5 Blue Chip Stocks to Buy Now According to Billionaire D. E. Shaw

In this piece, we’ll take a look at the 5 Blue Chip Stocks to Buy Now According to Billionaire D. E. Shaw. For more stocks, the risk/reward and the methodology of this list, head on to 10 Blue Chip Stocks to Buy Now According to Billionaire D. E. Shaw.

5. Meta Platforms, Inc. (NASDAQ:META)

D E Shaw’s stake value: $568 million

Percentage of D E Shaw’s Portfolio: 0.66%

Number of Hedge Fund Holders: 184

With 2.5 billion monthly active members, Meta Platforms, Inc. (NASDAQ:META) is the largest social network online. The company’s ecosystem primarily comprises of the Facebook app, Instagram, Messenger, and WhatsApp, as well as several services around these products. During Q2 2022, D E Shaw boosted its stake in the company by 117%. The fund’s total stake in the company amounted to roughly $568 million, which represented 0.66% of its 13F portfolio.

Here is what Saga Partners has to say about Meta Platforms, Inc. (NASDAQ:META) in its Q2 2022 investor letter:

“Meta (formerly known as Facebook, when I discuss the social media apps specifically, I’ll still refer to Facebook). The Portfolio first bought Meta in Q4’18. It was a controversial investment then and has continued to be to this day. The core mission of the company has been to make the world more open and connected. To do that, it needs to connect everyone in the world, which it largely has done with its nearly 3 billion monthly active users across its family of apps (Facebook, Instagram, and WhatsApp). That type of scale is hard to grasp and is getting pretty close to essentially every smartphone user outside of China and Russia.

From an investing perspective, there are questions surrounding Apple’s iOS App Tracking Transparency (ATT) changes that limit sharing of user data across apps, investments in virtual reality (VR) and augmented reality (AR) i.e. the metaverse, and competitive threats surrounding the rise of TikTok. It seems like only yesterday (or last year) that one of the major risks of Facebook was that the company was too powerful, had too much influence on public opinion, and faced antitrust and regulatory concerns…”

At the end of Q2 2022, 184 hedge funds tracked by Insider Monkey owned stakes in Meta Platforms, Inc. (NASDAQ:META). Fisher Asset Management was the stock’s leading stakeholder in Q2, owning Meta Platforms, Inc. (NASDAQ:META) shares worth over $1.8 billion. The fund’s position in the stock increased by 4% from Q1 2022.