As part of the weekly research here at The Acquirer’s Multiple we’re always interested in superinvestors who hold the same stocks that appear in our Acquirer’s Multiple Stock Screeners, based on their latest 13F’s. Investors such as Warren Buffett, Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, and Howard Marks.
While doing this research we’ve also uncovered a number of stocks that superinvestors have sold, or reduced in their portfolios, according to their latest 13f’s. So we’re now providing a new weekly feature article called ‘One Stock Superinvestors Are Selling‘. This week we’ll take a look at:
Facebook, Inc. Common Stock (NASDAQ: FB)
Facebook is the world’s largest online social network, with 2.5 billion monthly active users. Users engage with each other in different ways, exchanging messages and sharing news events, photos, and videos. On the video side, the firm is in the process of building a library of premium content and monetizing it via ads or subscription revenue. Facebook refers to this as Facebook Watch. The firm’s ecosystem consists mainly of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. Users can access Facebook on mobile devices and desktops. Advertising revenue represents more than 90% of the firm’s total revenue, with 50% coming from the U.S. and Canada and 25% from Europe. With gross margins above 80%, Facebook operates at a 30%-plus margin.
A quick look at the price chart below for Facebook shows us that the stock is up 49% in the past twelve months.
(Source: Morningstar)
Superinvestors who sold, or reduced Facebook stock in their portfolios include:
(Remaining shares held)
Cliff Asness – 5,418,054 shares
Chris Davis – 4,173,578 shares
David Tepper – 2,233,000 shares
Steve Romick – 1,646,531 shares
Israel Englander – 544,590 shares
Wally Weitz – 337,200 shares
Stanley Druckenmiller – 231,998 shares
Jonathon Soros – 92,000 shares
Ken Griffin – 18,719 shares
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