Meta Platforms (META) in RGA Investment Advisors Q1 2024

Strategic Position Adjustment Amidst Market Dynamics

May 23, 2025

Summary

Meta remains one of the fund's largest positions despite partial sell-off.
Strong recovery in digital ad market and macroeconomic conditions.
Capital intensity rising, with growth expected to moderate.
Opportunity cost drives reallocation to smaller-cap life science firms.

In RGA Investment Advisors' Q1 2024 fund letter, Meta Platforms (META, Financial) was highlighted as a significant holding, despite a strategic decision to sell a portion of the investment. The fund managers, Jason Gilbert and Elliot Turner, emphasized the importance of adjusting the position size to maintain a balanced risk-reward profile and to capitalize on emerging opportunities in smaller-cap life science firms.

"META had earned its way to a substantially outsized position and we felt it appropriate to pullback the sizing to more appropriate levels. The pendulum between risk and reward swung back in such a way that the skew is no longer as favorable and the opportunity is far more balanced." — Jason Gilbert and Elliot Turner, RGA Investment Advisors, Q1 2024 Fund Letter

Read full letter at gurufocus RGA Investment Advisors 2024 Q1 page.

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