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Facebook (FB) Has Risen 67% in Last One Year, Outperforms Market

If you are looking for the best ideas for your portfolio you may want to consider some of Wedgewood Partners top stock picks. Wedgewood Partners, an investment management firm, is bullish on Facebook Inc (NASDAQ:FB) stock. In its Q2 2019 investor letter – you can download a copy here – the firm discussed its investment thesis on Facebook Inc (NASDAQ:FB) stock. Facebook Inc (NASDAQ:FB) is a social media company.

On July 16, 2019, Wedgewood Partners had released its Q2 2019 investor letter. The investment firm said that Facebook Inc (NASDAQ:FB) was one of the biggest contributors to its performance in Q2 2019. The stock has posted a return of 67.2% in the trailing one year period, outperforming the S&P 500 Index which returned 20.5% in the same period. This suggests that the investment firm was right in its decision. On a year-to-date basis, Facebook Inc (NASDAQ:FB) stock has risen by 48.1%.

Last month, we published an article revealing Wedgewood Partners bullish investment thesis on Facebook Inc (NASDAQ:FB) stock in its Q2 2020 investor letter. This suggests that the investment firm has been bullish for a long time on Facebook.

Wedgewood Partners fund posted a return of 4.3% in the second quarter of 2019, in-line with the S&P 500 Index which also returned 4.3% in the same quarter. Let’s take a look at comments made by Wedgewood Partners about Facebook Inc (NASDAQ:FB) in the Q2 2019 investor letter.

“Facebook reported revenue growth of +26% in the previous quarter as well as steady growth in both daily and monthly active users. Management has also indicated that the growth of expenses will abate, and we saw evidence of this in the most recent quarter. Their advertising and user trends remain strong and the company continues to deliver successful ROI for its advertising customers offering an attractive growth and valuation profile.”

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Earlier this month, we published an article revealing that Facebook Inc (NASDAQ:FB) is one of the 10 most profitable companies in America in 2020.

In Q1 2020, the number of bullish hedge fund positions on Facebook Inc (NASDAQ:FB) stock increased by about 8% from the previous quarter (see the chart here), so a number of other hedge fund managers seem to agree with Facebook’s growth potential. Our calculations showed that Facebook Inc (NASDAQ:FB) is ranked #3 among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, legal marijuana is one of the fastest growing industries right now, so we are checking out ideas like this under-the-radar stock to identify the next tenbagger. We go through lists like the 10 most profitable companies in America to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. You can subscribe to our free enewsletter below to receive our stories in your inbox:

Disclosure: None. This article is originally published at Insider Monkey.