12 Gurus All Hold Meta
When hedge fund manager “titans” think alike, investors are wise to pay attention. At Holdings Channel, we have reviewed 6,685 13F filings for the 03/31/2022 reporting period, and noticed that Meta Platforms Inc (Symbol: FB) was held by 12 of the particular managers we have flagged as “titans” most widely followed by investors. It is not every day we see this many notable hedge fund managers thinking alike, so we wanted to take a closer look.
Before we continue, it is important to point out that 13F filings do not tell the whole story, because these funds are only required to disclose their long positions with the SEC, but are not required to disclose their short positions. A fund making a bearish bet against a stock by shorting calls, for example, might also be long some amount of stock as they trade around their overall bearish position. This long component could show up in a 13F filing and everyone might assume the fund is bullish, but this tells only part of the story because the bearish/short side of the position is not seen.
Having given that caveat, we believe that looking at groups of 13F filings can be revealing, especially when comparing one holding period to another. Below, let’s take a look at the change in FB positions for each of the titans that reported holding some amount of FB at 03/31/2022:
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Fund ManagerNew Position?Change In Share CountChange In Market Value ($ in 1000’s)Louis Bacon (Moore Capital Management) NEW +19,343+$4,301Chase Coleman (Tiger Global) Existing -1,150,655-$831,867Ray Dalio (Bridgewater) Existing +7,862+$1,401Jeremy Grantham (GMO) Existing +107,674-$112,441Joel Greenblatt (Gotham Asset Management) Existing +62,920+$2,184Ken Griffin (Citadel) Existing +2,537,324-$308,769Andreas Halvorsen (Viking Global) Existing -676,914-$365,563Seth Klarman (Baupost Group) Existing -14,589-$115,468Victor Mashaal (Senvest) NEW +138,000+$30,686Larry Robbins (Glenview) NEW +78,540+$17,464Jim Simons (Renaissance Tech) Existing +2,270,300+$421,531Prem Watsa (Fairfax) Existing +5,600+$1,085Aggregate Change: +3,385,405-$1,255,456
In terms of shares owned, we count 6 of the identified titans above having increased existing FB positions from 12/31/2021 to 03/31/2022, with 3 having decreased their positions and 3 new positions.
Looking beyond these particular hedge funds of interest, we tallied up the FB share count in the aggregate among all of the funds which held FB at the 03/31/2022 reporting period (out of the 6,685 we looked at). We then compared that number to the sum total of FB shares those same funds held back at the 12/31/2021 period, to see how the aggregate share count held by hedge funds has moved for FB. We found that between these two periods, hedge funds reduced their holdings by 90,336,690 shares in the aggregate, from 1,777,844,995 down to 1,687,508,305 for a share count decline of approximately -5.08%. The overall top three hedge funds holding FB on 03/31/2022 were:
»FundShares of FB Held1.Vanguard Group Inc. 180,453,3662.BlackRock Inc. 149,971,2993.FMR LLC 122,726,3074-10Find out the full Top 10 Hedge Funds Holding FB»
We’ll keep following the latest 13F filings by hedge fund managers and bring you interesting stories derived from a look at the aggregate information across groups of managers between filing periods. While looking at individual 13F filings can sometimes be misleading due to the long-only nature of the information, the sum total across groups of funds from one reporting period to another can be a lot more revealing and relevant, providing interesting stock ideas that merit further research, like Meta Platforms Inc (Symbol: FB).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.