GreenWood Investors, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. The fund’s fourth-quarter performance was impacted along with most other stocks, -12.3% for the Global Micro Fund and -10.9% for the euro-denominated Luxembourg Global Fund. Both funds were up 13.0% and 24.2% respectively for the year, highlighting the impact of our unhedged currency position that we believe is transitory. These returns frustratingly compare poorly to the MSCI ACWI benchmark returns of +6.0% in the quarter and +18.2% YTD (+16.6% and +27.2% respectively in euro-denominations). Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
Greenwood Investors, in its Q4 2021 investor letter, mentioned Meta Platforms, Inc. (NASDAQ:FB) and discussed its stance on the firm. Founded in 2004, Meta Platforms, Inc. (NASDAQ:FB) is a Menlo Park, California-based multinational technology conglomerate holding company with a $575.7 billion market capitalization, and is currently spearheaded by its CEO, Mark Zuckerberg. Meta Platforms, Inc. (NASDAQ:FB) delivered a -35.64% return since the beginning of the year, while its 12-month returns are down by -25.38%. The stock closed at $216.49 per share on March 18, 2022.
Here is what Greenwood Investors has to say about Meta Platforms, Inc. (NASDAQ:FB) in its Q4 2021 investor letter:
“Ironically, the only company to articulate a vision beyond the next quarter, Meta Platforms (FB), is facing significant short-term issues on its ability to execute. This is a humble reminder that while short-term treadmills are tough to stay on, relying only on the long-term vision, like Jack Welch’s successor did, or even Masayoshi Son has done with his 300-year plan, can be even more sobering. The ideal combination is a balancing of the two, something that Meta’s management has historically been very good at. The competition for mobile ad dollars will likely end up being one of the driving forces for Meta’s future innovation, a mostly foreign concept to its valley neighbors. Competition driving innovation, fancy that.”
Photo by Joshua Hoehne on Unsplash
Our calculations show that Meta Platforms, Inc. (NASDAQ:FB) ranks 3rd on our list of the 30 Most Popular Stocks Among Hedge Funds. Meta Platforms, Inc. (NASDAQ:FB) was in 224 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 248 funds in the previous quarter. Meta Platforms, Inc. (NASDAQ:FB) delivered a -35.14% return in the past 3 months.
In February 2022, we published an article that includes Meta Platforms, Inc. (NASDAQ:FB) in the 5 Technology Stocks Hedge Funds Are Talking About. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
