Meta Platforms (META): Wedgewood Partners’ Top YTD Performer

Core Insights - Wedgewood Partners' third-quarter 2025 investor letter highlights the ongoing popularity of AI stocks on Wall Street, with the Wedgewood Composite's net return at 5.9%, underperforming compared to the S&P's 8.1% and Russell 1000 Growth Index's 10.5% [1] Group 1: Meta Platforms, Inc. (NASDAQ:META) - Meta Platforms, Inc. reported a one-month return of -3.60% but a 52-week gain of 30.08%, with a stock price of $733.27 and a market capitalization of $1.801 trillion as of October 21, 2025 [2] - The company has significantly expanded its data center footprint, finishing 2024 with over $200 billion in gross property, plant, and equipment, an increase of $135 billion from five years prior [3] - Meta's annual gross cash flows increased from $29 billion in 2019 to $82 billion in 2024, demonstrating the effectiveness of its capital expenditures [3] - Meta is recognized as a major player in the AI space, having developed PyTorch, a key software library used in AI labs, and is considered to have a low valuation multiple [4] - In Q2 2025, Meta reported revenue of $47.5 billion, reflecting a 22% increase, and was held by 260 hedge fund portfolios, down from 273 in the previous quarter [4]