Rowan Street Capital LLC, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be seen here. In its letter, the fund said that the recent quarter was particularly tough in terms of market performance for most digital economy stocks and for its focused strategy, where its portfolio declined -12.3%. This resulted in a -19.4% (gross) decline for the full year 2021. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
Rowan Street Capital, in its Q4 2021 investor letter, mentioned Meta Platforms, Inc. (NASDAQ: FB) and discussed its stance on the firm. Meta Platforms, Inc. is a Menlo Park, California-based multinational technology conglomerate holding company with an $843.3 billion market capitalization. FB delivered a -9.86% return since the beginning of the year, while its 12-month returns are up by 9.05%. The stock closed at $303.17 per share on January 21, 2022.
Here is what Rowan Street Capital has to say about Meta Platforms, Inc. in its Q4 2021 investor letter:
“MetaPlatforms (FB)
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Our calculations show that Meta Platforms, Inc. (NASDAQ: FB) ranks 2nd on our list of the 30 Most Popular Stocks Among Hedge Funds. FB was in 248 hedge fund portfolios at the end of the third quarter of 2021, compared to 266 funds in the previous quarter. Meta Platforms, Inc. (NASDAQ: FB) delivered a -7.76% return in the past 3 months.
In December 2021, we also shared another hedge fund’s views on FB in another article. You can find other 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.
