Billionaire Ken Fisher’s Favorite Tech Stocks for Q3

#4. United Technologies Corporation (NYSE:UTX)

– Shares owned by Fisher Asset Management as of June 30: 8.36 Million

– Value of Fisher Asset Management’s holding as of June 30: $869.32 Million

The multi-billion-dollar asset manager reduced its exposure to United Technologies Corporation (NYSE:UTX) by a mere 13,501 shares during the second quarter of 2016, ending the period with 8.36 million shares. The trimmed stake was worth $869.32 million at the end of the quarter and made up 1.6% of the firm’s portfolio. The shares of the global provider of high technology products and services to the building systems and aerospace industries are up 8% so far in 2016 despite investor worries over economic risks related to the United Kingdom’s imminent exit from the European Union and slowing growth in China. These economic risks could lead to lower levels of end-market demand in construction, as well as in both the commercial and defense segments of the aerospace industry. United Technologies, which manufactures jet engines and elevators, produces actuation systems for the aerospace industry in west-central England, so the company does face certain risks associated with the so-called Brexit. Mason Hawkins’ Southeastern Asset Management was the owner of 7.10 million shares of United Technologies Corporation (NYSE:UTX) on March 31.

#3. Microsoft Corporation (NASDAQ:MSFT)

– Shares owned by Fisher Asset Management as of June 30: 18.30 Million

– Value of Fisher Asset Management’s holding as of June 30: $962.44 Million

The asset manager founded by billionaire Ken Fisher increased its position in Microsoft Corporation (NASDAQ:MSFT) by 80,138 shares during the April-to-June quarter. The investment firm owns 18.30 million Microsoft shares as of June 30, valued at $962.44 million. Just recently, Microsoft announced it would pay $26.2 billion for LinkedIn Corp (NYSE:LNKD), with Microsoft bears saying this deal would be just another bad acquisition made by the tech giant. The $26.2 billion-price tag gives Microsoft a very unique asset, namely LinkedIn’s valuable user base. However, Ken Fisher is not one of those bears, as he believes Microsoft represents a strong buying opportunity at the moment. “It sounds boring, but buy Microsoft”, said Mr. Fisher in a recent monthly Forbes column. The billionaire investor called Microsoft “a solid pick in a surprisingly solid year”. Microsoft shares are down 4% since the beginning of 2016. Ray Carroll’s Breton Hill Capital upped its stake in Microsoft Corporation (NASDAQ:MSFT) by 8% during the June quarter to 29,416 shares.