Meta Platforms, Inc.

Elite social-media/advertising franchise with high margins, strong growth, and huge free cash flow.

Strengths

• Elite margins and cash flow — operating margin 41.4% (92nd), FCF $46.11B (95th), OCF margin 57.6% (91st)
• Strong growth and returns — revenue +22.2%, ROE 27.8% (83rd), ROA 16.5%
• Strong balance sheet — current ratio 2.60, D/E 0.27

Risks

• Massive AI/data-center capex pressuring near-term FCF margin — per 10-K
• Regulatory/antitrust and privacy exposure per risk factors — per 10-K
• Reality Labs losses — per 10-K

Notable findings

• Exec changeRecent 8-K item 5.02 8-K ↗
• Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
• Buying back stockNet buyback — share count -2%/yr over 4y
• Strong balance sheetStrong balance sheet — $81.6B cash & investments
• AccumulatingInstitutional holders rose 67→68 QoQ (2025-12-31→2026-03-31)
• New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
• Notable holderHeld by 10 notable fund(s): FMR LLC, STATE STREET CORP, CITADEL ADVISORS LLC +7 more (as of 2026-03-31)
• Insider sellingInsider selling — 146 open-market sale(s) by 6 insider(s) (cluster of 6 insiders, ~$128M, last 6mo) Form 4 ↗