How Viking Global Played Major Tech Stocks in Q3

Viking Global raised its stake in Microsoft Corporation (NASDAQ:MSFT) by 142% in the third quarter to 13.667 million shares at the end of September. Microsoft recently received some good news after the European Commission gave its thumbs up to Microsoft’s purchase of LinkedIn. Although LinkedIn won’t improve Microsoft’s financials in the near term, the social network could help Microsoft in the long run, especially as it relates to Enterprise and the cloud. Of the 742 top funds we track, 126 owned shares of Microsoft Corporation (NASDAQ:MSFT) at the end of September, down 5 funds from the previous quarter.

Viking Global Investors slashed its holding of Broadcom Ltd (NASDAQ:AVGO)  by 55% during the September quarter to 4.55 million shares. The market value of the holding stood at $785.99 million and formed 3.39% of Viking Global Investors’ 13F portfolio. John Vinh of Pacific Crest recently issued a note saying that he believes the stock should be owned into fourth quarter earnings, due December 8. To the analyst, the Street’s estimates are achievable and the equity’s risk/reward is good. Vinh has a $215 price target and an ‘Overweight’ rating. 76 top funds owned shares of Broadcom Ltd (NASDAQ:AVGO) as of the most recent 13-F reporting period, up 2 funds from the previous quarter.

Salesforce.com Inc. (NYSE:CRM) was a new position for Viking in Q3 as the fund initiated a new stake of just over 3.01 million shares in the cloud software company. The new stake amounted to $214.9 million and 0.93% of Viking’s 13F portfolio on September 30. After dropping earlier in the year on worries that Salesforce.com might make a run at Twitter, shares have stabalized somewhat and are now down just 9.9% year-to-date. 66 elite funds had a bullish position in salesforce.com, inc. (NYSE:CRM) as of the most recent 13-F reporting period, up 6 funds from the previous quarter.

DISCLOSURE – NONE