RV Capital, an investment management firm, published its “Business Owner Fund” second quarter 2022 investor letter – a copy of which can be seen here. The NAV of the Business Owner Fund was €600.80 as of 30 June 2022. The NAV decreased 40.2% since the start of the year and increased 505.5% since inception on 30 September 2008. The compound annual growth rate since inception is 14.0%. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.
In its Q2 2022 investor letter, RV Capital mentioned Meta Platforms, Inc. (NASDAQ:META) and explained its insights for the company. Founded in 2004, Meta Platforms, Inc. (NASDAQ:META) is a Menlo Park, California-based multinational technology conglomerate with a $358.6 billion market capitalization. Meta Platforms, Inc. (NASDAQ:META) delivered a -60.32% return since the beginning of the year, while its 12-month returns are down by -59.57%. The stock closed at $133.45 per share on October 07, 2022.
Here is what RV Capital has to say about Meta Platforms, Inc. (NASDAQ:META) in its Q2 2022 investor letter:
“Meta Platforms, until recently known as Facebook, is the single most frustrating investment I have ever made. Since the initial investment in 2016, the company has been dogged by a near-constant drumbeat of negative news flow. Despite the doomsday prophecies though, the financial development has been excellent. At the time of our investment, I expected the company to earn an EPS of $4.20. In the most recent year, it earned $13.77, whereby earnings will likely dip temporarily in 2022. Taking a contrarian position in a company that subsequently has a great financial development is normally a recipe for investment success. In the case of Meta, however, the share price has only modestly gained versus our initial investment. Plenty of pain, no gain.
This begs the question as to whether I missed something. For much of the holding period, I would answer “no”. Facebook’s critics see it as being at least in some part responsible for most of what is wrong with the world. Brexit, the election of Trump, and mass shootings were generally accompanied by accusations of the nefarious role played by Facebook…” (Click here to see the full text)
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Our calculations show that Meta Platforms, Inc. (NASDAQ:META) ranks 4th on our list of the 30 Most Popular Stocks Among Hedge Funds. Meta Platforms, Inc. (NASDAQ:META) was in 184 hedge fund portfolios at the end of the second quarter of 2022, compared to 200 funds in the previous quarter. Meta Platforms, Inc. (NASDAQ:META) delivered a -21.90% return in the past 3 months.
In October 2022, we also shared another hedge fund’s views on Meta Platforms, Inc. (NASDAQ:META) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.
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Disclosure: None. This article is originally published at Insider Monkey.
