Should You Follow Sachem Head’s Stock Picks: CDK Global Inc (CDK), FleetCor Technologies, Inc. (FLT) & More

Sachem Head Capital upped its stake in FleetCor Technologies, Inc. (NYSE:FLT) by 60% and left it unchanged at 800,000 shares in the third one as the stock advanced by 21.4%. In this way, the value of the holding advanced to $138.98 million from $114.50 million during the third quarter. The number of funds tracked by us that held shares of FleetCor Technologies, Inc. (NYSE:FLT) at the end of June went up by four to 52. Stephen Mandel’s Lone Pine Capital had the biggest position in FleetCor Technologies, Inc. (NYSE:FLT), worth close to $823.1 million at the end of June. Sitting at the No. 2 spot was Tiger Global Management LLC, led by Chase Coleman, holding a $466.6 million position. Remaining members of the smart money with similar optimism consisted of Daniel S. Och’s OZ Management, John Griffin’s Blue Ridge Capital and Eric W. Mandelblatt’s Soroban Capital Partners.

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Sachem Head Capital trimmed its exposure to Team Health Holdings LLC (NYSE:TMH) by 9% to 2.55 million shares worth $83.03 million during the third quarter. Meanwhile, the stock lost 19.9% in the same period. At the end of the second quarter, 25 funds from our database amassed long positions in Team Health Holdings LLC (NYSE:TMH), compared to 22 funds at the end of March. Among these funds, JANA Partners, managed by Barry Rosenstein, amassed the biggest stake, which was worth $239.6 million at the end of June. Remaining professional money managers that were bullish included Alan Fournier’s Pennant Capital Management, Keith Meister’s Corvex Capital, and Matthew Knauer and Mina Faltas’s Nokota Management.

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Disclosure: none