Top 10 Tech Stock Picks of Adam Parker’s Center Lake Capital

Published November 3, 2021 at 8:07 am EDT Updated August 19, 2026 at 12:03 pm EDT

In this article, we discuss the top 10 tech stock picks of Adam Parker’s Center Lake Capital.

Adam Parker established Center Lake Capital in 2014 and has been the managing partner of the hedge fund since its inception. He oversees a portfolio worth $696.5 million in managed 13F securities, and assets under management valued at $646.1 million. At 35, Parker is one of the youngest hedge fund managers to hold such an impressive portfolio.

Before launching Center Lake Capital, Parker worked at PointState Capital as the managing director for four years. Starting out, he was handed securities worth $150 million to manage at PointState, which he executed brilliantly. Parker attended the University of Pennsylvania, where he received a Bachelor’s degree, specializing in Finance and Real Estate.

About 56.17% of Adam Parker’s 13F portfolio for the second quarter is concentrated on the information technology sector, with the biggest holding being Adobe Inc. (NASDAQ:ADBE), which comprises 10.94% of Parker’s 13F portfolio.

Some of the most popular tech stock picks of Adam Parker’s Center Lake Capital are Amazon.com, Inc. (NASDAQ:AMZN), Facebook, Inc. (NASDAQ:FB), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG). Hedge funds are very interested in these tech stocks as well.

Why should we pay attention to hedge fund sentiment while choosing stocks? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021, our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the S&P 500 ETF (SPY). Our stock picks outperformed the market by more than 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Top 10 Tech Stock Picks of Adam Parker's Center Lake Capital

Our Methodology

With this context in mind, here are some of the top stock picks of Adam Parker’s Center Lake Capital. We used Center Lake Capital’s 13F portfolio for the second quarter of 2021 to rank these stocks. The list was compiled according to the value of each holding in the investment portfolio.

The analyst ratings for each company are also discussed to provide readers with some more context about their investment decisions. The hedge fund sentiment around each stock was gauged using the data of 873 hedge funds tracked by Insider Monkey.

Top Tech Stock Picks of Adam Parker’s Center Lake Capital

10. Cloudflare, Inc. (NYSE:NET)

Center Lake Capital’s Stake Value: $24,872,000

Percentage of Center Lake Capital’s 13F Portfolio: 3.57%

Number of Hedge Fund Holders: 43

Cloudflare, Inc. (NYSE:NET) is an American internet and cloud computing company, focused on web infrastructure and website security. Cloudflare, Inc. allows protection of external, public-facing web properties, secures internal operations and private data, and also offers a server-less platform to customers so they can build scalable applications without deploying web infrastructure. Cloudflare, Inc. is one of the top tech stock picks of Adam Parker’s Center Lake Capital.

Cloudflare, Inc. is quite popular among hedge funds, with 43 funds long Cloudflare, Inc. at the end of June. Center Lake Capital owns stakes worth $24.8 million in Cloudflare, Inc., which represents 3.57% of Parker’s 13F portfolio.

Cowen analyst Shaul Eyal kept an Outperform rating on Cloudflare, Inc., raising the price target from $135 to $200 on October 19. He is expecting solid results from the web security company, now that Cloudflare, Inc. is prioritizing digital transformation, information asset protection, and compliance accelerating revenue growth.

Cloudflare, Inc. is a top technology stock in Adam Parker’s 13F portfolio, just like Amazon.com, Inc., Facebook, Inc., Microsoft Corporation, and Alphabet Inc..

Here is what Alger has to say about Cloudflare, Inc. in its Q2 2021 investor letter:

“Cloudflare provides a broad range of network services to businesses of all sizes across the world. Cloudflare’s intelligent global network spans more than 200 cities in over 100 countries. It offers network security, performance and reliability to a growing portion of global web traffic with over 17% of global internet requests going through Cloudflare. The company’s serverless network design allows this global network to be a key component layer as new developments for edge computing, 5G and the Internet of Things increase the importance of secure, reliable edge networks.

Cloudflare stock outperformed in the second quarter following a strong earnings report for the first three months of this year during which the company reaccelerated revenue growth. This revenue reacceleration was driven by momentum in Cloudflare’s large customer segment. Cloudflare added a record number of large customers who now account for more than half of Cloudflare’s total revenue. We think that Cloudflare is currently still in the early stages of market penetration, which means it has potential to maintain high levels of growth within its large customer segment as the company continues to innovate within its product offerings to better serve these large, complex customers. Cloudflare’s leadership in product innovation was further validated by the company’s second quarter announcement of a new partnership with NVIDIA Corporation to develop Al-based applications on Cloudflare’s edge network.”

9. Coupa Software Incorporated (NASDAQ:COUP)

Center Lake Capital’s Stake Value: $27,479,000

Percentage of Center Lake Capital’s 13F Portfolio: 3.95%

Number of Hedge Fund Holders: 54

Coupa Software Incorporated (NASDAQ:COUP) is a platform that is employed globally for Business Spend Management. Coupa Software Incorporated enables companies to manage their finances and budget properly, to control the resources spent within their organization. The company provides cloud architecture, executive dashboards, alerts, expense management, and real-time benchmarking in a single user interface. Coupa Software Incorporated is one of the top tech stocks in Adam Parker’s 13F portfolio.

Adam Parker’s Center Lake Capital owns 104,836 shares in Coupa Software Incorporated, valued at $27.4 million, making up 3.95% of Parker’s 13F portfolio.

Out of the hedge funds tracked by Insider Monkey, 54 funds were bullish on Coupa Software Incorporated at the end of Q2, up from 50 in the first quarter.

UBS analyst Taylor McGinnis initiated coverage of Coupa Software Incorporated with a Neutral rating and a $230 price target on October 1. She stated that the company can sustain revenue growth of more than 30% over the medium-term, but she is not entirely convinced about the stock’s durability.

Coupa Software Incorporated is one of the top tech stocks selected by Adam Parker, just like Amazon.com, Inc., Facebook, Inc., Microsoft Corporation, and Alphabet Inc..

Here is what ClearBridge Investments has to say about Coupa Software Incorporated in its Q2 2021 investor letter:

“Within IT, we added positions in Coupa Software, a leader in the fast growing Business Spend Management market with opportunity to double its total addressable market by harnessing B2B payments with its Coupa Pay product; and AppLovin, a leading mobile gaming advertising network in a unique position to utilize its ad expertise to grow its own mobile game business at low user acquisition costs.”

8. Everbridge, Inc. (NASDAQ:EVBG)

Center Lake Capital’s Stake Value: $31,312,000

Percentage of Center Lake Capital’s 13F Portfolio: 4.5%

Number of Hedge Fund Holders: 26

Everbridge Inc. (NASDAQ:EVBG) is the next top stock pick by Adam Parker’s Center Lake Capital. The company provides enterprise software that is meant to offer critical information during times of crisis to enable public safety and business continuity. Founded in 2002, Everbridge Inc. has headquarters in Pasadena, California, Burlington, and Massachusetts.

Adam Parker’s Center Lake Capital owns about 230,100 shares in Everbridge Inc., amounting to $31.3 million, and making up 4.5% of Parker’s 13F portfolio.

At the end of the second quarter of 2021, 26 hedge funds in Insider Monkey’s database held stakes amounting to $1.2 billion in Everbridge Inc., up from 49 in the previous quarter with stakes worth over $1.08 billion.

Baron Discovery Fund mentioned Everbridge Inc. in their Q1 2021 investor letter. Here is what the fund said:

“Everbridge, Inc. provides a cloud-based software solution to companies for critical event management (“CEM”) as well as general population alerts for public authorities. Shares declined during the first quarter as part of the broader market rotation from high-valuation software stocks coupled with continued pandemic-related pressure on Everbridge’s organic growth rates. We retain conviction given the company’s significant lead over its competition and the early stage of CEM adoption, with just 2% of Everbridge’s 5,000-plus population alert customers having adopted CEM thus far.”

7. DocuSign, Inc. (NASDAQ:DOCU)

Center Lake Capital’s Stake Value: $41,936,000

Percentage of Center Lake Capital’s 13F Portfolio: 6.02%

Number of Hedge Fund Holders: 58

DocuSign, Inc. (NASDAQ:DOCU) is a California-based business software company that enables organizations to manage electronic signatures on documents. DocuSign, Inc. has millions of users worldwide, spread across 180 countries. DocuSign, Inc. is traded as a NASDAQ 100 Component, and is one of the top tech stock picks by Adam Parker.

Center Lake Capital owns stakes worth $41.9 million in DocuSign, Inc., representing 6.02% of Parker’s 13F portfolio at the end of June.

Aubrey Capital Management is the leading stakeholder in DocuSign, Inc. as of the end of Q2, with 34,600 shares valued at $9.67 billion. Overall, 58 hedge funds were long DocuSign, Inc. at the end of June.

Here is what Carillon Tower Advisers has to say about DocuSign, Inc. in its Q2 2021 investor letter:

“DocuSign provides electronic signature solutions. The firm reported an excellent quarter and investors have appreciated the strong growth combined with the excellent margins the company has posted. DocuSign has a long runway of growth ahead and we believe that it remains in a favorable position to continue gaining market share from traditional manual and paper-based signature solutions.”

6. Elastic N.V. (NYSE:ESTC)

Center Lake Capital’s Stake Value: $41,957,000

Percentage of Center Lake Capital’s 13F Portfolio: 6.03%

Number of Hedge Fund Holders: 55

Elastic NV (NYSE:ESTC) is a company engaged in self-managed and SaaS solutions for search, logging, analytics, and security purposes. The Elasticsearch tech is used by leading companies including eBay Inc. (NASDAQ:EBAY), Wikipedia, Yelp Inc. (NYSE:YELP), Uber Technologies, Inc. (NYSE:UBER), Lyft, Inc. (NASDAQ:LYFT), Tinder, and Netflix, Inc. (NASDAQ: NFLX). Founded in 2012, Elastic NV was first established in Amsterdam and later incorporated in California, and is one of the top tech stock picks of Adam Parker’s Center Lake Capital.

Center Lake Capital owns about 287,850 shares in Elastic NV, amounting to $41.95 million, and making up 6.03% of Parker’s 13F portfolio.

At the end of the second quarter of 2021, 55 hedge funds in Insider Monkey’s database held stakes amounting to $3.06 billion in Elastic NV, up from 52 in the previous quarter with stakes worth over $1.88 billion.

Greenhaven Road Capital, in their Q2 2021 investor letter, mentioned Elastic NV and shared their insights about the company. Here is what they said:

“Our top five holdings represent more than half of our total long exposure and therefore five greatly influence overall returns. Elastic Software (ESTC) – Management continues to innovate and execute, rolling out new products and converting existing users from free to paid versions. They made adjustments to their licensing agreements, making it more difficult for Amazon to rip them off, and provided forward guidance that convinced investors that the growth train will continue to run for at least a few more years.”

5. Facebook, Inc. (NASDAQ:FB)

Center Lake Capital’s Stake Value: $56,262,000

Percentage of Center Lake Capital’s 13F Portfolio: 8.08%

Number of Hedge Fund Holders: 266

Facebook, Inc. is another top tech stock to invest in today according to Adam Parker’s Center Lake Capital. Facebook, Inc. is a multinational tech giant operating a social networking service, with more than 2.9 billion users per month as of 2021.

Parker’s Center Lake Capital owns 149,000 shares in Facebook, Inc. as of the end of the second quarter, valued at $56.26 million, representing 8.08% of Parker’s 13F portfolio.

The stock is immensely popular with hedge funds. 266 funds in Insider Monkey’s database were bullish on Facebook, Inc. at the end of June, up from 257 in the previous quarter.

Wedgewood Partners mentioned Facebook, Inc. in its Q3 2021 investor letter. Here is what they said:

“Facebook detracted from performance despite posting a staggering +56% growth in advertising revenues. Much of the stock’s underperformance was driven by non operating concerns that we view as mostly political in nature. The Company’s digital properties command a massive audience of over 2.7 billion daily users, so any government or state actor would be able to wield tremendous power by controlling that audience and it should not be a surprise when those actors attempt to do that. However, Facebook has invested aggressively in its content curation capabilities that address many of the concerns raised by media and political critics. We continue to carry Facebook at our maximum weighting as the stock is trading in line with a market multiple despite unrivaled competitive positioning and rapid growth, representing one of the best risk-rewards available in the market.”

4. Amazon.com, Inc. (NASDAQ:AMZN)

Center Lake Capital’s Stake Value: $68,803,000

Percentage of Center Lake Capital’s 13F Portfolio: 9.89%

Number of Hedge Fund Holders: 271

Amazon.com, Inc. is an immensely popular tech stock according to Adam Parker’s Center Lake Capital. The American multinational tech corporation is focused on e-commerce, cloud computing, digital streaming, and artificial intelligence.

Parker’s Center Lake Capital, as of the end of the second quarter, owns stakes worth $68.8 million in Amazon.com, Inc., making up 9.89% of Parker’s 13F portfolio.

Amazon.com, Inc. is the most popular tech stock amongst the smart money. Of the hedge funds tracked by Insider Monkey, 271 funds were bullish on Amazon.com, Inc. at the end of June, up from 243 in the previous quarter.

Credit Suisse analyst Stephen Ju kept an Outperform rating on the stock on October 22, while lowering the price target from $4700 to $4200.

Worm Capital LLC mentioned Amazon.com, Inc. in its Q3 2021 investor letter. Here is what they said:

“Our core portfolio as of this writing—TSLA, SPOT, SHOP, ABNB, and AMZN—are all premier examples of companies that use the concept of aggregation of marginal gains to continuously improve their value proposition for customers. After all, what is innovation if not just a continuous search for fractional advantages in business?
Amazon, for instance, accumulates marginal gains by compressing their costs year after year for consumers, creating an infrastructure and logistics network unrivaled by its peers. In the short-term, the market can often misunderstand the intentions of the “marginal gain accumulators,” but over time, their value-creation becomes obvious in hindsight.”

3. Microsoft Corporation (NASDAQ:MSFT)

Center Lake Capital’s Stake Value: $71,789,000

Percentage of Center Lake Capital’s 13F Portfolio: 10.32%

Number of Hedge Fund Holders: 238

As of the end of June, Parker’s Center Lake Capital owns 265,000 shares in Microsoft Corporation, amounting to $71.78 million, representing 10.32% of Parker’s 13F portfolio.

Out of the 873 hedge funds tracked by Insider Monkey, 238 funds were bullish on Microsoft Corporation at the end of Q2, with stakes worth $62.46 billion.

Baron Opportunity Fund mentioned Microsoft Corporation in its Q2 2021 investor letter. Here is what the fund said:

“Shares of Microsoft Corporation, a cloud-software leader and provider of software productivity tools and infrastructure, rose during the quarter following a strong earnings report highlighting solid demand for its broad product stack and continued momentum migrating its business to the cloud. Microsoft was a top contributor in the period because it trades at reasonable free cash flow and earnings valuations, has cloud and digital transformation tailwinds at its back, reported a solid March quarter, and beat Street expectations by a wide margin. Microsoft’s results continued to be strong across the board, with Azure cloud computing revenues up 46% in constantcurrency (“cc”) terms and commercial cloud bookings growth of 38% cc, the best in years. Microsoft also reported robust profitability growth, with operating income expanding 31% and GAAP earnings up 45%. We believe the company is well positioned for continued solid growth and profitability through market share gains as more companies look to transform and digitize their businesses as they move operations to the cloud.”

2. Alphabet Inc. (NASDAQ:GOOG)

Center Lake Capital’s Stake Value: $75,695,000

Percentage of Center Lake Capital’s 13F Portfolio: 10.88%

Number of Hedge Fund Holders: 190

Parker’s Center Lake Capital owns 31,000 shares in Alphabet Inc. as of the end of June, valued at $75.69 million, and making up 10.88% of Parker’s 13F portfolio.

At the end of June, 155 hedge funds in Insider Monkey’s database were long Alphabet Inc., down from 159 in the previous quarter.

Wedgewood Partners mentioned Alphabet Inc. in its Q3 2021 portfolio. Here is what they said:

“Alphabet’s core Google search business accelerated to multiyear highs, up nearly +70% driven in part by advertisers rushing to the Company’s Android platform. We estimate Android runs on nearly three-quarters of all smartphones; however, its share of ad spend is lower. Recent policy changes to Apple’s iOS operating system have made it more difficult for advertisers to get a return on its ad spend across the Apple ecosystem. These changes should help close the gap between Android and iOS advertising share and sustain Alphabet’s torrid growth.”

1. Adobe Inc. (NASDAQ:ADBE)

Center Lake Capital’s Stake Value: $76,133,000

Percentage of Center Lake Capital’s 13F Portfolio: 10.94%

Number of Hedge Fund Holders: 89

Adobe Inc. is the top tech stock pick of Adam Parker’s Center Lake Capital. A multinational computer software company, Adobe Inc. offers software applications for graphics, photography, illustration, animation, multimedia/video, motion pictures and print. With millions of users around the globe, the signature products by Adobe Inc. include Adobe Photoshop, Adobe Illustrator, Adobe Creative Cloud, and Adobe Acrobat Reader.

Parker’s Center Lake Capital owns 130,000 shares in Adobe Inc., valued at $76.1 million, representing 10.94% of Parker’s 13F portfolio.

At the end of Q2, 89 hedge funds were bullish on Adobe Inc., down from 107 in the previous quarter.

Here is what Richie Capital Group has to say about Adobe Inc.. in its Q2 2021 investor letter:

“Adobe Systems (ADBE – up 24.8%) – In the last 15 years, Adobe has transformed itself into a software behemoth, more than tripling its revenue since 2010. The company is famous for its namesake PDF-reader and photo-editing software Photoshop. However, ADBE sells a full suite of software products through a recurring subscription model. The company transitioned from selling boxed software to recurring subscriptions in 2013 and revenues have grown consistently since. The company achieved $13B in revenue in 2020 with 88% Gross Margins.”

You can also take a look at 10 Best Stocks to Buy According to Peter Lewis’ LFL Advisers and Top 10 Stock Picks of Terry Smith’s Fundsmith LLP.

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