Billionaire Jeffrey Ubben Trims 13F Portfolio, but Remains Bullish on These Stocks

#2 Twenty-First Century Fox Inc (NASDAQ:FOX)

 – Shares Owned by ValueAct Capital (as of March 31): 47.33 million

 – Value of Holding (as of March 31): $1.33 billion

Twenty-First Century Fox Inc (NASDAQ:FOX) jumped three spots to become the ValueAct’s second largest equity holding at the end of first quarter, even though the fund didn’t make any changes to its stake in the company during that time and shares of Twenty-First Century Fox Inc (NASDAQ:FOX) were up only marginally during the first quarter. Last month shares of the media giant saw an unprecedented rally of over 10%, but they have given up nearly all of those gains since the company came out with its first quarter numbers and are currently trading up by 4% year-to-date. For its fiscal 2016 first quarter, the company reported EPS of $0.47 on revenue of $7.23 billion, which was largely in-line with analysts’ expectation of EPS of $0.47 on revenue of $7.17 billion. On May 6, analysts at Stifel Nicolaus reiterated their ‘Buy’ rating on the stock while upping their price target on it to $32 from $29. Vinit Bodas‘ Deccan Value Advisors brought up its holding in the company by 36% to 5.53 million shares during the first quarter.

#1 Microsoft Corporation (NASDAQ:MSFT)

 – Shares Owned by ValueAct Capital (as of March 31): 56.62 million

 – Value of Holding (as of March 31): $3.13 billion

With ValueAct Capital keeping its stake in Microsoft Corporation (NASDAQ:MSFT) unchanged during the first quarter, the software giant continued to remain the fund’s largest equity holding at the end of that period. Shares of Microsoft Corporation (NASDAQ:MSFT) are currently trading down by over 10% year-to-date mainly owed to the drop they saw last month after the company had posted its first-quarter numbers. Though the drop of the stock have made a lot of investors nervous, they can take some respite in the fact that the stock hasn’t yet fallen convincingly below the $50 mark, which according to technical analysts is a strong support for it. In the last few days, the short interest in Microsoft’s stock has gone up significantly because many traders believe that the stock is trading at a very high multiple. However, most analysts  feel that the stock  is not overvalued at these levels, taking into account the growing cloud business of the company, and hence, they are cautioning investors from shorting it. On May 18, Microsoft Corporation announced that it is selling its feature phone business to FIH Mobile (a subsidiary of Foxconn) and HMD Global for $350 million. Billionaire Ken Fisher‘s Fisher Asset Management inched up its stake in the company by 1% to 18.22 million shares during the first quarter.

Disclosure: None