Senator John Hickenlooper Latest Portfolio: 3 Stocks to Watch

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

Number of Hedge Fund Holders: 248    

Meta Platforms, Inc. (NASDAQ:FB), formerly known as Facebook, rebranded itself last year as it aimed to transition away from the social media business to the metaverse. Hedge funds have given the company their thumbs up in this regard albeit with some exceptions. At the end of the third quarter of 2021, 248 hedge funds in the database of Insider Monkey held stakes worth $38 billion in Meta Platforms, Inc. (NASDAQ:FB), down from 266 in the preceding quarter worth $42 billion. 

Latest data shows that Hickenlooper sold off his stake in Meta Platforms, Inc. (NASDAQ:FB), worth $250,00 and $500,000, on October 27. The transaction was disclosed by the lawmaker in the report filed on December 10. 

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.”