Top 5 Tech Stock Picks of Adam Parker’s Center Lake Capital

In this article, we discuss the top 5 tech stock picks of Adam Parker’s Center Lake Capital. If you want our detailed analysis of Adam Parker’s history, investment philosophy, and hedge fund performance, go directly to the Top 10 Tech Stock Picks of Adam Parker’s Center Lake Capital. 

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. (NASDAQ:FB) is another top tech stock to invest in today according to Adam Parker’s Center Lake Capital. Facebook, Inc. (NASDAQ:FB) 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. (NASDAQ:FB) 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. (NASDAQ:FB) at the end of June, up from 257 in the previous quarter.  

Wedgewood Partners mentioned Facebook, Inc. (NASDAQ:FB) 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.”