Here Are Yacktman Asset Management’s Top Tech Picks

#3 Microsoft Corporation (NASDAQ:MSFT)

Shares held (as of September 30): 17.11 million

Total Value (as of September 30): $757.37 million

Percent of Portfolio (as of September 30): 4.97%

Yacktman Asset Management’s stake in Microsoft Corporation (NASDAQ:MSFT) was trimmed by 5% between July and September. The company’s stock is trading up by 14.03% year-to-date. Jeffrey Ubben’s ValueAct Capital recently unloaded over 18 million shares of Microsoft Corporation (NASDAQ:MSFT), but still owns more than 56 million shares of the tech giant. At the end of the second quarter, the number of billionaires invested in Microsoft Corporation (NASDAQ:MSFT) increased to 14 from 13 at the end of the first quarter, according to our database. The value of their stakes surged to $7.14 billion from $5.75 billion during the second quarter.

#2 Cisco Systems Inc. (NASDAQ:CSCO)

Shares held (as of September 30): 36.11 million

Total Value (as of September 30): $948 million

Percent of Portfolio (as of September 30): 6.22%

Yacktman Asset Management unloaded nearly 6.0 million shares of Cisco Systems Inc. (NASDAQ:CSCO) during the last quarter. The company reported solid first-quarter fiscal 2016 results with revenue of $12.7 billion, representing a year-over-year increase of 4% and above the consensus estimate of $12.6 billion. The company’s income for the quarter went up to $2.4 billion, from $1.8 billion in the year-ago quarter. Cisco Systems Inc. (NASDAQ:CSCO)’s stock has lost 6.24% year-to-date. John A. Zaro’s Bourgeon Capital, in its latest 13F, disclosed holding 166,700 shares of the company as of the end of September.

#1 Oracle Corporation (NYSE:ORCL)

Shares held (as of September 30): 26.36 million

Total Value (as of September 30): $952.12 million

Percent of Portfolio (as of September 30): 6.25%

Yacktman Asset Management reduced its position in Oracle Corporation (NYSE:ORCL) by around 3.70 million shares during the third quarter. Oracle Corporation (NYSE:ORCL)’s income for the fiscal 2016 first quarter decreased to $1.7 billion from $2.2 billion a year earlier, while the revenue stood at $8.5 billion, compared to $8.6 billion in the same period of fiscal 2015. Recently, Oracle inked a non-binding memorandum of understanding with China’s Tencent Cloud to offer cloud services in China. Shares of Oracle Corporation (NYSE:ORCL) have declined by 16.92% year-to-date. Another investor that sees value in Oracle is Leighton Welch‘s Welch Capital Partners, which holds 432,951 shares, worth over $15 million.

Disclosure: none