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Funds
6
Score
9.83
vs SPY
+27.8%
Stock return (since Q-end)
+31.8%
SPY return (since Q-end)
+4.0%
Current price
$741.90
Days to cover (short int.)
1.6d↑+7.6%
as of 2026-09-15
News Summary
NeutralMeta delivered strong Q2 revenue growth (28% YoY) and won a major antitrust case, but issued weaker-than-expected forward guidance and reported sharply declining free cash flow ($784M) amid aggressive AI infrastructure spending ($130-145B capex guidance for 2026). The company faces execution risk on AI monetization and near-term margin pressure from elevated legal/operational costs, though AI investments are already boosting core ad performance metrics.
Red flags
- •Weaker-than-expected revenue guidance issued despite Q2 beat
- •Free cash flow collapsed to $784M in Q2, signaling deteriorating cash generation
- •Capex guidance raised to $130-145B annually with unclear near-term ROI; monetization of AI spending remains unproven
- •Operating income down 8% YoY (before adjustments) due to legal and severance charges; elevated legal expenses anticipated for FY26
- •Key AI talent departures (Osofsky to Nscale, Devanathan to OpenAI) amid competitive pressure
- •Stock valuation increasingly dependent on 'Muse' AI initiative delivering returns per analysts; stock down 7% from September peak despite strong trailing performance
Funds Buying (6)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Pershing Square | Bill Ackman | 3.2M | +535K | $1.8B | 9.2% | +20% | Existing |
| Viking Global | Andreas Halvorsen | 1.9M | +805K | $1.1B | 3.0% | +76% | Existing |
| Maverick Capital | Lee Ainslie | 764K | +764K | $430M | 3.9% | — | NEW |
| Appaloosa LP | David Tepper | 675K | +239K | $380M | 5.1% | +55% | Existing |
| D1 Capital | Dan Sundheim | 567K | +567K | $319M | 0.9% | — | NEW |
| Glenview Capital | Larry Robbins | 357K | +234K | $201M | 4.0% | +191% | Existing |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where META ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
Viking Global
position #6 of this fund's book
- 3AIR PRODUCTS AND CHEMICALS I$1,390M
- 4SHERWIN WILLIAMS CO$1,335M
- 5FORTIVE CORP$1,218M
- 6META PLATFORMS INC$1,052M
- 7SCHWAB CHARLES CORP$982M
- 8THERMO FISHER SCIENTIFIC INC$971M
- 9JPMORGAN CHASE & CO$949M
Appaloosa LP
position #7 of this fund's book
- 4ALPHABET INC$654M
- 5UBER TECHNOLOGIES INC$555M
- 6ISHARES INC$490M
- 7META PLATFORMS INC$380M
- 8VISTRA CORP$351M
- 9NVIDIA CORPORATION$305M
- 10NRG ENERGY INC$257M
Pershing Square
position #7 of this fund's book
- 4AMAZON COM INC$2,041M
- 5HOWARD HUGHES HOLDINGS INC$1,991M
- 6RESTAURANT BRANDS INTL INC$1,872M
- 7META PLATFORMS INC$1,800M
- 8VISA INC$1,122M
- 9MASTERCARD INCORPORATED$1,091M
- 10S&P GLOBAL INC$1,056M
Glenview Capital
position #8 of this fund's book
- 5AMAZON COM INC$303M
- 6AGILENT TECHNOLOGIES INC$262M
- 7DANAHER CORP DEL$218M
- 8META PLATFORMS INC$201M
- 9ADVANCED MICRO DEVICES INC$173M
- 10TEVA PHARMACEUTICAL INDS LTD$172M
- 11VIATRIS INC$157M
Maverick Capital
position #8 of this fund's book
- 5ALPHABET INC$510M
- 6AMAZON COM INC$482M
- 7NU HLDGS LTD$475M
- 8META PLATFORMS INC$430M
- 9GFL ENVIRONMENTAL INC$375M
- 10NATERA INC$368M
- 11TAIWAN SEMICONDUCTOR MANUFAC$340M
D1 Capital
position #17 of this fund's book
- 14SOMNIGROUP INTERNATIONAL INC$390M
- 15FLOWSERVE CORP$368M
- 16APPLOVIN CORP$345M
- 17META PLATFORMS INC$319M
- 18FERGUSON ENTERPRISES INC$304M
- 19DISNEY WALT CO$277M
- 20ALPHABET INC$264M
Values are quarter-end position sizes. Shown only for funds where META ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | LONG | 6 | 9.83 | +27.8% |
| Q1 2026 | LONG | 8 | 12.34 | -16.5% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| Olivan Javier | Chief Operating Officer | SELL | 946 | $750.42 | $0.71M | 2026-09-28 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 82 | $748.91 | $0.06M | 2026-09-28 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 57 | $748.91 | $0.04M | 2026-09-28 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 82 | $748.91 | $0.06M | 2026-09-28 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 408 | $748.91 | $0.31M | 2026-09-28 | ↗ |
| Zuckerberg Mark | COB and CEO | SELL | 2K | $775.39 | $1.62M | 2026-09-24 | ↗ |
| Zuckerberg Mark | COB and CEO | SELL | 3K | $776.56 | $1.95M | 2026-09-24 | ↗ |
| Zuckerberg Mark | COB and CEO | SELL | 8K | $777.63 | $5.92M | 2026-09-24 | ↗ |
| Zuckerberg Mark | COB and CEO | SELL | 4K | $778.36 | $3.37M | 2026-09-24 | ↗ |
| Zuckerberg Mark | COB and CEO | SELL | 600 | $779.33 | $0.47M | 2026-09-24 | ↗ |
| Zuckerberg Mark | COB and CEO | SELL | 1K | $775.32 | $0.88M | 2026-09-24 | ↗ |
| Zuckerberg Mark | COB and CEO | SELL | 2K | $776.56 | $1.37M | 2026-09-24 | ↗ |
| Zuckerberg Mark | COB and CEO | SELL | 5K | $777.66 | $3.74M | 2026-09-24 | ↗ |
| Zuckerberg Mark | COB and CEO | SELL | 2K | $778.40 | $1.67M | 2026-09-24 | ↗ |
| Zuckerberg Mark | COB and CEO | SELL | 476 | $779.28 | $0.37M | 2026-09-24 | ↗ |
| Cox Christopher K | Chief Product Officer | SELL | 20K | $700.50 | $14.01M | 2026-09-21 | ↗ |
| Cox Christopher K | Chief Product Officer | SELL | 20K | $725.02 | $14.50M | 2026-09-21 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 946 | $680.27 | $0.64M | 2026-09-21 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 82 | $680.27 | $0.06M | 2026-09-21 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 57 | $680.27 | $0.04M | 2026-09-21 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 82 | $680.27 | $0.06M | 2026-09-21 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 408 | $680.27 | $0.28M | 2026-09-21 | ↗ |
| Cox Christopher K | Chief Product Officer | SELL | 20K | $675.23 | $13.50M | 2026-09-15 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 946 | $657.73 | $0.62M | 2026-09-14 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 82 | $657.73 | $0.05M | 2026-09-14 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 57 | $657.73 | $0.04M | 2026-09-14 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 82 | $657.73 | $0.05M | 2026-09-14 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 408 | $657.73 | $0.27M | 2026-09-14 | ↗ |
| Cox Christopher K | Chief Product Officer | SELL | 19K | $650.21 | $12.08M | 2026-09-09 | ↗ |
| Cox Christopher K | Chief Product Officer | SELL | 1K | $651.15 | $0.93M | 2026-09-09 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 258 | $612.99 | $0.16M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 117 | $614.22 | $0.07M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 262 | $615.23 | $0.16M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 855 | $616.32 | $0.53M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 555 | $617.28 | $0.34M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 529 | $618.18 | $0.33M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 120 | $618.93 | $0.07M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 78 | $620.37 | $0.05M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 40 | $621.03 | $0.02M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 24 | $622.99 | $0.01M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 328 | $616.06 | $0.20M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 228 | $616.06 | $0.14M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 328 | $616.06 | $0.20M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 52 | $612.21 | $0.03M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 40 | $613.30 | $0.02M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 200 | $614.49 | $0.12M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 354 | $615.88 | $0.22M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 473 | $616.79 | $0.29M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 304 | $618.00 | $0.19M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 157 | $619.11 | $0.10M | 2026-09-08 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 52 | $620.27 | $0.03M | 2026-09-08 | ↗ |
| Anderson Aaron | Chief Accounting Officer | SELL | 3K | $618.06 | $2.00M | 2026-09-03 | ↗ |
| Mahoney Curtis J. | Chief Legal Officer | SELL | 2K | $558.00 | $0.87M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 2K | $547.51 | $1.01M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 2K | $548.20 | $1.02M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 1K | $549.25 | $0.67M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 708 | $550.20 | $0.39M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 1K | $551.25 | $0.57M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 561 | $552.47 | $0.31M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 768 | $553.42 | $0.43M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 160 | $554.39 | $0.09M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 40 | $555.83 | $0.02M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 720 | $557.57 | $0.40M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 120 | $558.12 | $0.07M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 40 | $559.59 | $0.02M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 120 | $560.63 | $0.07M | 2026-08-18 | ↗ |
| Bosworth Andrew | Chief Technology Officer | SELL | 8K | $558.00 | $4.38M | 2026-08-18 | ↗ |
| LI SUSAN J | Chief Financial Officer | SELL | 2K | $689.85 | $1.47M | 2026-08-15 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 149 | $600.00 | $0.09M | 2026-08-10 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 113 | $602.41 | $0.07M | 2026-08-10 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 92 | $604.08 | $0.06M | 2026-08-10 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 40 | $605.97 | $0.02M | 2026-08-10 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 40 | $607.14 | $0.02M | 2026-08-10 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 164 | $600.00 | $0.10M | 2026-08-10 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 114 | $600.00 | $0.07M | 2026-08-10 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 164 | $600.00 | $0.10M | 2026-08-10 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 816 | $600.00 | $0.49M | 2026-08-10 | ↗ |
| Andreessen Marc L | — | SELL | 250 | $588.16 | $0.15M | 2026-08-04 | ↗ |
| Andreessen Marc L | — | SELL | 87 | $589.24 | $0.05M | 2026-08-04 | ↗ |
| Andreessen Marc L | — | SELL | 44 | $590.39 | $0.03M | 2026-08-04 | ↗ |
| Andreessen Marc L | — | SELL | 45 | $591.69 | $0.03M | 2026-08-04 | ↗ |
| KIMMITT ROBERT M | — | SELL | 500 | $561.56 | $0.28M | 2026-08-03 | ↗ |
| Alford Peggy | — | SELL | 464 | $543.56 | $0.25M | 2026-07-31 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 837 | $607.85 | $0.51M | 2026-07-27 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 82 | $607.85 | $0.05M | 2026-07-27 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 57 | $607.85 | $0.03M | 2026-07-27 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 82 | $607.85 | $0.05M | 2026-07-27 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 408 | $607.85 | $0.25M | 2026-07-27 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 837 | $645.85 | $0.54M | 2026-07-20 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 82 | $645.85 | $0.05M | 2026-07-20 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 57 | $645.85 | $0.04M | 2026-07-20 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 82 | $645.85 | $0.05M | 2026-07-20 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 408 | $645.85 | $0.26M | 2026-07-20 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 2K | $660.98 | $1.01M | 2026-07-13 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 82 | $661.13 | $0.05M | 2026-07-13 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 57 | $661.13 | $0.04M | 2026-07-13 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 82 | $661.13 | $0.05M | 2026-07-13 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 408 | $661.13 | $0.27M | 2026-07-13 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 2K | $600.40 | $1.25M | 2026-07-06 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 816 | $601.45 | $0.49M | 2026-07-06 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 376 | $602.63 | $0.23M | 2026-07-06 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 80 | $603.14 | $0.05M | 2026-07-06 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 246 | $600.00 | $0.15M | 2026-07-06 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 171 | $600.00 | $0.10M | 2026-07-06 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 246 | $600.00 | $0.15M | 2026-07-06 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 736 | $600.32 | $0.44M | 2026-07-06 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 314 | $601.44 | $0.19M | 2026-07-06 | ↗ |
| Olivan Javier | Chief Operating Officer | SELL | 174 | $602.75 | $0.10M | 2026-07-06 | ↗ |
| KIMMITT ROBERT M | — | SELL | 500 | $607.75 | $0.30M | 2026-07-01 | ↗ |
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| FMR LLC | SC 13G/A | 96.2M | 4.4% | 2026-08-06 | ↗ |
| Vanguard Capital Management | SC 13G | 163.8M | 7.5% | 2026-04-30 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.
Congressional Trading
| Member | Chamber | State | Type | Amount Range | Transaction Date | Filed | Src |
|---|---|---|---|---|---|---|---|
| Matthew Robert Van Epps | house | TN07 | SELL | $1,001 - $15,000 | 2026-06-16 | 2026-06-17 | ↗ |
| Daniel Crenshaw | house | TX02 | SELL | $1,001 - $15,000 | 2026-06-01 | 2026-07-16 | ↗ |
| Daniel Crenshaw | house | TX02 | SELL | $1,001 - $15,000 | 2026-05-05 | 2026-07-16 | ↗ |
| Daniel Crenshaw | house | TX02 | BUY | $1,001 - $15,000 | 2026-04-28 | 2026-07-16 | ↗ |
| Alan Armstrong | senate | — | BUY | $15,001 - $50,000 | 2026-03-27 | 2026-07-21 | ↗ |
| John Boozman | senate | — | BUY | $1,001 - $15,000 | 2025-04-15 | 2026-08-20 | ↗ |
Periodic Transaction Reports filed under the STOCK Act. Amounts are disclosed as ranges, not exact dollar figures.