The latest round of Form 13Fs has dropped, and that means investors get to see what billionaire hedge fund managers were up to during the second quarter.
One popular stock to buy was Meta Platforms (NASDAQ: META), and two prominent billionaire hedge fund managers bought the stock
Bill Ackman at Pershing Square increased their stake by 20% during the quarter, and it now makes up nearly 10% of its holdings. David Tepper of Appaloosa Management increased his Meta stake by more than 50%, and it now makes up a 5% position in his portfolio. That’s two smart investors dumping a lot of money into Meta’s stock, but that information is now a bit old.
The 13F filing reveals only what a firm’s positions were as of June 30. Since June 30, Meta’s stock is actually down 3% from where it ended the quarter. However, these two could have bought at any time during Q2.