In its Q3 2026 investor letter, Rowan Street Capital named Meta Platforms (META) its longest-held investment and the largest positive contributor to performance this year. The fund first bought shares more than eight years ago, and the position has appreciated about 4.4x, roughly a 19% annualized return. The letter recalls several sharp drawdowns: a roughly $120 billion loss in a single day in July 2018, a fall of more than 75% in 2022, and a 29% decline from its peak over the past year. META closed at $697.52 on October 21, 2026, with a $1.78 trillion market cap, up 5.67% year to date and within a 52-week range of $520.26 to $779.82.
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Related tickers and likely impact
META
▲ Likely positiveMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.9T |
| Close on 10/21/2026 | 698.43 |
| Change that session | +0.60% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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