The Motley Foolยท2025-09-13 07:30Group 1: Meta Platforms - Philippe Laffont sold 76,900 shares of Meta Platforms, which has outperformed the S&P 500 by 16 percentage points this year [2] - Meta Platforms reported Q2 revenue of $47.5 billion, a 22% increase from the previous year, with GAAP earnings rising 38% to $7.14 per diluted share [6] - The company is leveraging AI to enhance user engagement, resulting in a 5% increase in time spent on Facebook and a 6% increase on Instagram [5] - Analysts expect Meta's earnings to grow at 17% annually over the next three years, making its current valuation of 27 times earnings appear reasonable [8] - Despite selling shares, Laffont still holds a significant position in Meta, indicating continued confidence in the company [8] Group 2: The Trade Desk - Philippe Laffont acquired 998,900 shares of The Trade Desk, which is the largest demand-side platform for the open internet [2][9] - The Trade Desk reported Q2 revenue of $694 million, a 19% increase, but this was a slowdown from the previous quarter's 25% growth [11] - The company faces competitive pressure from Amazon, which has enhanced its DSP capabilities and secured ad inventory from Roku and Netflix [10] - Wall Street projects The Trade Desk's earnings to grow at 20% annually over the next three years, although its current valuation of 55 times earnings is considered somewhat expensive [13] - Laffont's purchase of The Trade Desk represents a small position in his portfolio, suggesting a cautious approach rather than high conviction [12]