Top 5 Stock Picks of Girish Kumar’s TenCore Partners

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

Girish Kumar’s TenCore Partners’ Stake Value: $87,055,000

Percentage of Girish Kumar’s TenCore Partners’ 13F Portfolio: 12.03%

Number of Hedge Funds: 248

Stock Price as of December 31: $336.35

Meta Platforms, Inc. (NASDAQ:FB) has been a part of TenCore Partners’ portfolio since Q4 2019.

Colin Sebastian at Baird has termed Meta Platforms, Inc. (NASDAQ:FB) as one of the top internet stock picks for 2022. The analyst thinks that the investors in internet stocks are more concerned about near-term trends, growth outlook, and macroeconomic events as opposed to long–term secular growth drivers. As a result, they would be more interested in growth and margin numbers and less in secular growth trends or total addressable market. The analyst anticipates more positive development related to the core advertising trends in 2022. Meta Platforms, Inc. (NASDAQ:FB) is also considered as a top internet pick for 2022 by Mark Mahaney at Evercore ISI.

Investment management firm Canterbury Tollgate shared its stance on Meta Platforms, Inc. (NASDAQ:FB) in its Q3 2021 investor letter. Here’s what the firm said:

To say traditional media is anti-Facebook would not be an overstatement. An already intense and multi-year critique of (or attack on) Facebook has ratcheted up in recent weeks. Facebook’s research efforts have been reported on, if often derided, for nearly a decade. Going back to 2014, Slate.com called their research practices “unethical” when FB tried to study the impact social posts had on users. Now those efforts have been turned against them for the kill shot.

My job is to observe, assess, and allocate. Not to commentate on all the whims and wishes of media narrative. However, in the case of Facebook I cannot avoid going into some detail re: the onslaught against them, which I find to be most unwarranted and insincere.

Last month the Wall Street Journal ran a five-piece series titled “The Facebook Files” which allegedly shows how toxic Instagram is for teens. The foundation of their argument was a single slide from an internal presentation claiming, based on FB’s own research, that of teens who had a negative self-image, one-third said Instagram “made them feel worse.”iii Somehow the implication here is that this is not an inescapable aspect of either the human psyche and/or society-atlarge, but that it is of Facebook’s doing…” (Click here to see the full text)