Legendary Value Investor Bill Miller’s Portfolio: Top 5 Stock Picks

In this post we will take a look at legendary value investor Bill Miller’s portfolio: Top 5 stock picks. For more details about Mr. Miller, his hedge fund, its investment strategy and more stocks in its portfolio, head on over to Legendary Value Investor Bill Miller’s Portfolio: Top 10 Stock Picks.

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

Miller Value Partners’ Stake Value: $101.7 million

Percentage of Miller Value Partners’ 13F Portfolio: 2.35%

Number of Hedge Fund Holders: 248

Meta Platforms, Inc. (NASDAQ:FB) earned $29 billion in revenue and $3.22 in GAAP EPS for its Q3, beating estimates for EPS only. UBS increased the company’s price target to $425 from $416 in December 2021, outlining that advertisement and other spending budgets for the company’s customers will increase soon.

Mr. Miller’s hedge fund owned 299,560 Meta Platforms, Inc. (NASDAQ:FB) shares during Q3 2021 which were worth $101 million and represented 2.35% of its portfolio. 248 of the 867 hedge funds part of Insider Monkey’s third quarter of 2021 survey owned stakes in the communications company.

Ken Fisher’s Fisher Asset Management is Meta Platforms, Inc. (NASDAQ:FB) largest investor. It owns 7.5 million shares worth $2.5 billion.

Jefferies Group mentioned Meta Platforms, Inc. (NASDAQ:FB) in its Q3 2021 investor letter. It stated that:

“While still early, FB is in the process of building the platforms that will ultimately support the development of the Metaverse. We look at FB’s position through the lens of 4 current investment initiatives: 1) Oculus VR hardware, 2) Smart glasses, 3) Augmented Reality lenses, and 4) “Horizon Workrooms”

Oculus Virtual Reality hardware: Since acquiring Oculus in 2014 ($2B deal), FB has been focused on developing best-in-class hardware and complementary software & services to support VR experiences. The Oculus Quest 2 is FB’s newest VR headset; it retails at $299 and allows users to play games, try fitness classes, play sports, and watch concerts in virtual environments. Most importantly, Quest 2 is linked to users’ Facebook accounts, which means users can seamlessly connect with friends in virtual environments to play games or spend time together. We believe one of FB’s biggest differentiators in VR is its large array of non-gaming experiences that were designed for Oculus. For instance, users can explore extreme terrain in National Geographic Explore VR, join virtual fitness classes, or simulate being a chef. As FB’s hardware continues to improve and becomes less cumbersome, we would expect a flywheel of greater developer and user adoption of VR…”