In this article, we discuss the top 5 stocks to invest in according to Kevin D. Eng’s Columbus Hill Capital Management. If you wish to see our detailed analysis of Eng’s history, investment philosophy, and hedge fund performance, go directly to the Top 10 Stocks To Invest In According To Kevin D. Eng’s Columbus Hill Capital Management.
5. Meta Platforms, Inc. (NASDAQ:FB)
Columbus Hill Capital Management’s Stake Value: $52.67 million
Percentage of Columbus Hill Capital Management’s 13F Portfolio: 4.48%
Number of Hedge Fund Holders: 266
Formerly known as Facebook, Multinational technology conglomerate Meta Platforms, Inc. (NASDAQ:FB) announced a partnership with Microsoft Corporation (NASDAQ:MSFT) to integrate access and engagement for the workplace and teams, on November 12. Now known as Meta workplace, the users of the workplace of Meta Platforms, Inc. (NASDAQ:FB) can comment and react to what will be posted inside Microsoft’s Teams, while the users of Microsoft can do the same at Meta.
According to the third quarter 13F filings, Columbus Hill Capital Management holds 155,202 shares of Meta Platforms, Inc. (NASDAQ:FB), amounting to more than $52.67 million in worth and accounting for 4.48% of the hedge fund’s investment portfolio.
Ken Fisher of Fisher Asset Management is one of the biggest stakeholders of Meta Platforms, Inc. (NASDAQ:FB) as of the end of the third quarter, according to the data tracked by Insider Monkey. Overall, 266 funds were bullish on Meta Platforms, Inc. (NASDAQ:FB) by the end of the June quarter, compared to 51 in the previous quarter.
On October 26, Truist analyst Youssef Squali lowered the price target on Meta Platforms, Inc. (NASDAQ:FB) to $400 from $425, but kept a Buy rating on the shares after its Q3 results.
Here is what Polen Capital has to say about Meta Platforms, Inc. (NASDAQ:FB) in its Q3 2021 investor letter:
“Facebook’s stock was pressured on concerns about regulation in the quarter. We are constantly monitoring the potential regulatory risks to Facebook (and all of our holdings). At this point, we see very little chance that regulation changes Facebook’s business model in a meaningful and adverse way. Regarding the recent data shared by a former Facebook employee and the company itself on some of the unfortunate negative consequences of social media, we recognize these types of issues will inevitably linger in different forms and fashions well into the future. We have been focused on the ability of Facebook to identify and mitigate these negative consequences while amplifying the value users typically cite for its apps across a long list of use cases. We continuously monitor the vibrance of the user base on Facebook’s apps to confirm that value.”
