Billionaire Izzy Englander’s 5 Favorite Stocks Heading Into 2021

3. Facebook, Inc. (NASDAQ:FB)

The billionaire Izzy Englander’s hedge fund increased position by 122% in the social media giant Facebook, Inc. (NASDAQ: FB) in the latest quarter. FB now accounts for 0.39% of the overall portfolio compared to 0.17% in the previous quarter. Shares of Facebook rallied 33% this year.

Facebook is one of the favorite stocks of hedge funds. It was in 230 hedge funds’ portfolios at the end of the third quarter of 2020, up sharply from the previous all-time high of 213.

Wedgewood Partners has also been bullish on Facebook’s fundamentals. Here is what Wedgewood Partners stated about Facebook in an investor’s letter.

“Facebook reported 32% growth in constant currency ad revenue, along with expectations for 50-55% growth in expenses as the Company continued with their telegraphed plan to accelerate investments in privacy and security across their social platforms. The Federal Trade Commission (FTC) also approved a $5 billion fine for violating a 2012 FTC order by misrepresenting users’ ability to control data privacy. While this removed an overhang dating back to early 2018, continued pressure from politicians and regulators kept Facebook’s earnings multiple in check.”