Should You Follow SCGE Management Into Its Top Picks?

Let’s take a look at SCGE Management’s ownership in Facebook Inc (NASDAQ:FB). The fund reported holding 275,000 shares worth $31.43 million as of the end of June, and it saw the stock gain 12.2% in the following three months. Overall, Facebook was included in the equity portfolios of 148 funds from our database, down from 164 funds a quarter earlier. Among these investors, the number one position in the company was reported by Andreas Halvorsen’s Viking Global, which was worth close to $2.30 billion. On Viking Global’s heels was Lone Pine Capital, led by Stephen Mandel, holding a $1.25 billion position. Other peers that held long positions encompassed Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, John Armitage’s Egerton Capital Limited, and Alex Snow’s Lansdowne Partners.

And now, last but not least, Workday Inc (NYSE:WDAY), a provider of enterprise cloud applications for human resources and finance, saw SCGE Management cut its stake by 800,000 shares to  400,000 shares worth $29.87 million at the end of June. The stock surged by 22.8% during the third quarter. A total of 25 funds tracked by Insider Monkey were bullish on this stock heading into the third quarter. The largest stake in Workday Inc (NYSE:WDAY) was held by Matrix Capital Management, which reported holding $381.6 million worth of stock at the end of June. It was followed by Tybourne Capital Management with a $205.2 million position. Other investors bullish on the company included Criterion Capital, Citadel Investment Group, and SRS Investment Management.

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