Top 5 Technology Stocks to Buy According to Billionaire Cliff Asness

This article discusses Cliff Asness’ AQR Capital Management’s top 5 technology stock picks at the end of the second quarter. To know about Mr. Asness’s early career, the history of AQR Capital Management, its recent performance, and the other technology stocks it held in its portfolio, please read: Top 10 Technology Stocks to Buy According to Billionaire Cliff Asness.

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

AQR Capital Management’s Stake Value: $437,486,000

AQR Capital Management’s 13F Portfolio: 0.98%

Number of Hedge Fund Holders: 184

Despite many analysts considering Meta Platforms, Inc. (NASDAQ:META) a value buy at current levels, smart money investors seem to be fleeing the stock in droves. The ownership of a stake in Meta Platforms, Inc. (NASDAQ:META) among around hedge funds tracked by Insider Monkey has seen a steady decline to 184 at the end of June this year from 275 at the same time last year.

According to Bloomberg, US District Judge Edward Davila will hear Meta Platforms, Inc.’s (NASDAQ:META) plea against the Federal Trade Commission in December on a case related to the latter pre-emptively blocking the former’s acquisition of VR app maker Within. In July, the FTC had filed a suit to block Meta Platforms, Inc.’s  (NASDAQ:META) $400 million acquisition of Within. Following this, on August 5, Meta Platforms, Inc. (NASDAQ:META) said that it is temporarily putting the acquisition on hold as it prepares to fight the FTC in court over this deal.