Macquarie Large Cap Growth Fund’s Views on Meta Platforms (META)

Core Insights - Macquarie Asset Management's "Macquarie Large Cap Growth Fund" reported positive returns in Q3 2025 but underperformed the Russell 1000 Growth Index due to an unfavorable market environment and missteps [1][3] - AI-themed stocks were the primary drivers of market gains, contributing to approximately 75% of market returns in the quarter [1] Fund Performance - The fund's performance lagged behind the benchmark, primarily due to underweight positions in key stocks like Meta Platforms, Inc. [1][3] - Despite the underperformance, the fund still delivered positive returns in a record-gaining equity market [1] Meta Platforms, Inc. Analysis - Meta Platforms, Inc. (NASDAQ:META) had a one-month return of -8.65% but a 52-week gain of 22.86%, closing at $708.65 per share with a market cap of $1.78 trillion on October 14, 2025 [2] - The fund holds an underweight position in Meta, recognizing its quality characteristics but citing valuation and quality hurdles that need to be addressed before increasing its position [3] Hedge Fund Interest - Meta Platforms, Inc. ranked third among the 30 most popular stocks among hedge funds, with 260 hedge fund portfolios holding the stock at the end of Q2 2025, down from 273 in the previous quarter [4] - The company reported Q2 2025 revenue of $47.5 billion, reflecting a 22% increase in both reported and constant currency [4]