Workday Inc (WDAY), Amazon.com, Inc. (AMZN) and Facebook Inc (FB): Glynn Capital Management’s Prominent Tech Picks
Glynn Capital Management’s equity portfolio leans heavily towards IT stocks with 72% of total portfolio being in that sector. The fund’s portfolio mix also contains Consumer Discretionary, Finance, Healthcare and Energy stocks. The portfolio of Glynn decreased 1Q2015 to $261 million from $284 million at the end of 4Q2014.
During 1Q, Glynn Capital Management altered its portfolio in more than one way. The fund initiated fresh positions in four stocks, including Zillow Group Inc (NASDAQ:Z) and Box Inc (NYSE:BOX). Elsewhere, the fund sold out of three stocks, namely, International Business Machine Corp. (NYSE:IBM), Jones Lang LaSalle Inc (NYSE:JLL) and Tiffany & Co. (NYSE:TIF).
In other developments, Glynn Capital Management increased holding in one stock and lowered stake in 18 stocks. Overall, Workday Inc (NYSE:WDAY), Amazon.com, Inc. (NASDAQ:AMZN) and Facebook Inc (NASDAQ:FB) emerged as the fund’s top-three largest stocks at the end of the quarter, which are also its most prominent technology holdings.
Here is a closer look at these tech stocks in the basket of Glynn Capital Management.
Glynn trims interest in Workday
Workday Inc (NYSE:WDAY) emerged Glynn’s largest equity pick overall at the end of 1Q and also its largest technology pick. The fund owned 274,359 shares worth more than $23 million in the enterprise cloud application provider in the latest quarter. Stake in the company decreased during 1Q because the fund held 277,259 shares in Workday at the end of 4Q.
Glynn retires some shares in Amazon
Glynn Capital Management retained Amazon.com, Inc. (NASDAQ:AMZN) among its top-three largest stocks overall and among its best technology picks. The fund reduced exposure to Amazon during 1Q as that it owned 60,384 shares valued at more than $22 million in the online retailer at the end of the quarter. The previous stake at the end of 4Q was 74,464 shares valued above $23 million.
Glynn cuts holding in Facebook
Glynn Capital Management cut its holding in Facebook Inc (NASDAQ:FB) during 1Q, lowering its holding to 254,195 shares worth nearly $21 million at the end of the quarter compared to 280,595 shares valued at about $22 million in the previous report.
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