Retirement Stock Portfolio: 5 Safe Tech Stocks To Consider

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

Number of Hedge Fund Holders: 248    

Despite rebranding and a lot of negative media attention in the past few months, hedge funds continue to hold Meta Platforms, Inc. (NASDAQ:FB) in high regard. At the end of the third quarter of 2021, 248 hedge funds in the database of Insider Monkey were long on Meta Platforms, Inc. (NASDAQ:FB) with stakes worth $38 billion. Fisher Asset Management is a leading shareholder in Meta Platforms, Inc. (NASDAQ:FB) with 7.5 million shares worth $2.5 billion. 

Meta Platforms, Inc. (NASDAQ:FB) stands out among other tech giants since it owns and runs the largest social media platforms across the world, boasting a user base in the billions. Meta Platforms, Inc. (NASDAQ:FB) is now focusing more on the “metaverse” while advertising spend on social media platforms holds steady and future prospects look bright. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Meta Platforms, Inc. (NASDAQ:FB) was one of them. Here is what the fund said:

“We continued to keep our learnings from 2020 in mind during the quarter as we sought to increase the up capture of the portfolio. We also made adjustments to the portfolio’s top 10 holdings to increase the participation of select stocks, including Facebook, while trimming our weighting to stable names, which now represent 47% of the portfolio. Our repositioning has been encouraging so far with the portfolio performing better on up days in the market while maintaining good down capture during more turbulent sessions.”