Philippe Laffont Stock Portfolio: 5 Top Stock Picks

2. Meta Platforms, Inc. (NASDAQ:META) 

Number of Hedge Fund Holders: 225    

Meta Platforms, Inc. (NASDAQ:META) is a tech firm that owns and runs social media platforms.  Latest 13F filings show that Coatue Management owned 6 million shares of Meta Platforms, Inc. (NASDAQ:META) at the end of September 2023 worth $1.8 billion, representing 9.40% of the portfolio of the fund. 

At the end of the second quarter of 2023, 225 hedge funds in the database of Insider Monkey held stakes worth $30 billion in Meta Platforms, Inc. (NASDAQ:META), compared to 220 in the preceding quarter worth $25 billion. 

In its Q3 2023 investor letter, Weitz Investment Management, an asset management firm, highlighted a few stocks and Meta Platforms, Inc. (NASDAQ:META) was one of them. Here is what the fund said:

“As for other quarterly contributors, Alphabet, Inc., (GOOG) and Meta Platforms, Inc. (NASDAQ:META) added to their exceptional year-to-date returns. Meta Platforms and Alphabet were the true year-to-date standouts. After steep declines in 2022, both stocks rebounded sharply due to a combination of solid fundamentals, disciplined operational execution, and improved sentiment. Despite outsized gains and attention, we think both Alphabet and Meta remain undervalued.”