META — tear sheet

The document-constrained engine assesses META as Overweight rather than stronger. Its reasoning: the printed record in management's Q2 2026 release favors the bull side on direction — revenue of $60.80 billion, up 28% year-over-year (27% constant currency), with ad impressions +14% and price per ad +12% alongside 3.60 billion daily active people, and $18.8 billion of operating income even in the heaviest capex quarter (SEC 8-K Item 2.02 press release, 2026-07-29). The risk review still calls the margin trajectory unresolved — costs +55% versus +28% revenue, operating margin 31% versus 43%, diluted EPS -13% — and flags the QuantOrb snapshot (MFI 81.47, CONTINUATION, strength 0.6533, 2026-09-17 session) as conventionally overbought and explicitly a screen output, not a recommendation. The engine also treats the March 31 13F snapshot, which shows several top holders trimming, as stale by design (statutory lag up to 45 days). Sources: SEC 8-K Item 2.02 press release (2026-07-29); QuantOrb money-flow snapshot (2026-09-17); SEC 13F-HR via quantorb filers data (2026-03-31).

Source: SEC 13F-HR holdings (as of 2026-03-31) via quantorb filers data — quarter-end snapshots, statutory lag up to 45 days

Quarter-end 13F-HR snapshot for META as tracked in the quantorb filers dataset (5 institutional filer rows on file; positions as of 2026-03-31, a quarter-end snapshot subject to the statutory 13F reporting lag of up to 45 days). Quarter-over-quarter share changes where the dataset carries them:

This is the dataset's tracked top-holder snapshot, not an exhaustive list of 13F filers; it is a periodic regulatory disclosure, not real-time portfolio data.

Management's disclosures are confident on growth. In the Q2 2026 release, CEO Mark Zuckerberg said 'AI is accelerating our core business today,' that 'the results are already showing,' and that he is 'optimistic about the potential ahead' (management's 8-K Item 2.02 press release, 2026-07-29). It reports revenue of $60.80 billion (+28% year-over-year), daily active people of 3.60 billion (+3%), ad impressions +14%, and average price per ad +12%, with a 16% effective tax rate versus 11%. Announced items include $2.40 billion of legal-proceeding charges, $1.18 billion of severance from the May 2026 headcount reduction, and capital expenditures of $31.08 billion. The 10-K (filed 2026-01-29) frames an AI ecosystem strategy spanning AI glasses, VR, and a next computing platform; its MD&A excerpt is not available in provided documents, and the press-release excerpt carries no forward guidance. The engine flags as catalysts the next quarterly filing's cost trajectory, June-quarter 13F data, and any QuantOrb signal change. Sources: management's 8-K press release (2026-07-29); SEC 10-K (2026-01-29); engine outputs.

The engine's risk review centers on the cost curve: Q2 expenses rose 55% against 28% revenue growth, operating margin compressed to 31% from 43%, and diluted EPS fell 13% (SEC 8-K press release, 2026-07-29); the engine's adjusted arithmetic implies roughly 1.5:1 inverted leverage and is not company-reconciled. The $2.40 billion legal-proceeding charge's nature and recurrence profile are not available in provided documents, and the 11%-to-16% tax-rate step's cause is undisclosed — the engine estimates roughly $0.9 billion of net-income effect. Capital expenditures of $31.08 billion, about half of quarterly revenue per the engine, lack cash-flow detail to verify funding (MD&A excerpt not available in provided documents). The 13F snapshot (2026-03-31, lag up to 45 days) shows FMR down 4.4%, BlackRock 1.6%, and State Street 2.5%, against Geode up 2.6%. MFI 81.47 is flagged as overbought, no post-July-29 price data appears in the provided documents, and news/social sentiment data is not available in provided documents. Sources: SEC 8-K press release (2026-07-29); QuantOrb snapshot (2026-09-17); SEC 13F-HR via quantorb filers data (2026-03-31); engine risk review.