Top 5 Stock Picks of Christopher Lyle’s SCGE Management

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1. Shopify Inc. (NYSE:SHOP)

SCGE Management: $1,212,067,000
Percentage of SCGE Management’s 13F Portfolio: 11.24%
Number of Hedge Fund Holders: 73

Shopify Inc. (NYSE:SHOP) is a popular e-commerce platform for small and medium-sized enterprises. In December, Evercore ISI analyst Mark Mahaney upgraded Shopify Inc. (NYSE:SHOP) to “Outperform” from “In Line” with a price target of $1,770.

In the third quarter of 2021, SCGE Management owned 894,000 shares in Shopify Inc. (NYSE:SHOP), worth $1.21 billion. The stock represents 11.24% of the Q3 investment portfolio of the hedge fund.

As of the end of the third quarter, 73 hedge funds in Insider Monkey’s database of 867 elite funds held stakes in Shopify Inc. (NYSE:SHOP), as compared to 85 funds in the second quarter.

ClearBridge Investments, in its second-quarter 2021 investor letter mentioned Shopify Inc. (NYSE:SHOP). Here is what the fund said:

“Shopify (is one of the) companies that have become go-to platforms for small and medium size businesses (SMBs) engaged in e-commerce and social media marketing, rebounded strongly in the quarter after being caught in the selloff among high-multiple growth names since Vaccine Monday. These and the portfolio’s other disruptors had thrived through the first part of the pandemic, leading us to trim positions into strength and reallocate cash into more attractively priced evolving opportunities and steady compounders that had been overly punished by lockdowns and a drop in economic activity.”

You can also take a peek at Legendary Value Investor Seth Klarman’s Portfolio: Top 10 Stock Picks and Billionaire Ken Griffin’s Portfolio: Top 10 Stock Picks

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