Jeffrey Ubben’s ValueAct Capital has disclosed its holdings for the second quarter, revealing 16 investments which have a current market value of $13.5 billion. The portfolio remains focused on the tech industry, which makes about 50% of the total, and finance plus healthcare, which together make around 33% of the portfolio. Ubben is a long-term investor and usually does not make more than a few purchases a year. In addition, the investor does not look to be highly diversified, his three top picks make around 55% of the total portfolio value.
The top pick for the quarter is Microsoft Corporation (NASDAQ:MSFT), where the investor has acquired additional 2.9 million shares, taking its stake to 74.2 million shares which have a market value of $3 billion. The Microsoft Corporation (NASDAQ:MSFT) stake makes 22.88% of the total portfolio value. In addition to Ubben, Boykin Curry’s Eagle Capital Management is bullish on Microsoft Corporation (NASDAQ:MSFT) owning 33 million shares worth $1.3 billion.
On the second place there is Canadian Valeant Pharmaceuticals Intl Inc (NYSE:VRX), where Ubben holds a stake of 18 million shares, unchanged from the last quarter. The shares are worth 2.3 billion and make as much as 17.64% of the entire portfolio. Valeant Pharmaceuticals Intl Inc (NYSE:VRX) is currently involved together with Bill Ackman’s Pershing Square in a high-profile takeover battle with Allergan, Inc. (NYSE:AGN). Andreas Halvorsen’s Viking Global is bullish on Valeant Pharmaceuticals Intl Inc (NYSE:VRX) as well, as it has increased its stake in the last quarter by 2.5 million shares, to 11.8 million. The stake is worth $1.4 billion.
Motorola Solutions Inc (NYSE:MSI) has grabbed the third place in ValueAct’s portfolio, the same as the previous quarter. Jeffrey Ubben owns 28 million shares in the company which have a market value of $1.9 billion. The stake in Motorola Solutions Inc (NYSE:MSI) makes 14.2% of the entire portfolio. Motorola Solutions Inc (NYSE:MSI) is also owned by Leon Cooperman, who holds 2.9 million shares worth $195 million, according to his latest 13F.