Top 5 Stock Picks of Alexander Captain’s Cat Rock Capital

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

Cat Rock Capital’s Stake Value: $177,264,000
Percentage of Cat Rock Capital’s 13F Portfolio: 18.43%
Number of Hedge Fund Holders: 200

Meta Platforms, Inc. (NASDAQ:META) is a multinational technology business based in Menlo Park, California. In response to rising production costs, Meta Platforms (NASDAQ:META) increased the price of its Quest 2 virtual reality headsets by around $100 on July 26. Starting on August 1, the Quest 2 headsets will cost $399 for the 128 GB variant and $499.99 for the 256-gigabyte model.

In the first quarter of 2022, Alexander Captain’s Cat Rock Capital portfolio held 797,192 shares of Meta Platforms, Inc. (NASDAQ:META), worth about $177.26 million, representing 18.43% of the total 13F securities. Cat Rock Capital’s stake in Meta Platforms, Inc. (NASDAQ:META) increased by 54% in the first quarter of 2022.

As per Insider Monkey’s data, 200 hedge funds were bullish on Meta Platforms, Inc. (NASDAQ:META) at the end of the first quarter of 2022, down from 224 funds in the earlier quarter.

Here is what Boyar Value Group has to say about Meta Platforms, Inc. (NASDAQ:META) in its Q4 2021 investor letter:

“Corporate executives can have many different reasons for selling shares (anticipation of tax law changes, philanthropy, diversification, and much more), but the sheer number of billionaire founders who sold shares in 2021 should raise eyebrows and might well be signaling a market top. Bloomberg’s Ben Steverman and Scott Carpenter report not only that Mark Zuckerberg of Meta Platforms Inc. (formerly known as Facebook) sold shares in his company almost every day last year but also that the founders of Google sold ~$3.5 billion worth of stock (the first time either Sergey Brin or Larry Page has sold shares since 2017).”