The Development that Will Strengthen Hedge Funds’ Confidence in the Tech Sector

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Microsoft Corporation (NASDAQ:MSFT) came pretty close to Google’s figures as 107 funds reported holding $18.32 billion worth of stock, equal to 5.10% of the company at the end of June. Moreover, the number of funds with stakes in Microsoft also fell by three during the second quarter, while the total value of their holdings went up from $16.13 billion. However, Microsoft’s stock advanced by 9% during the second quarter as opposed to declines of 2.6% and 5.0% registered by Google’s class A and class C shares. Jeff Ubben’s ValueAct Capital is the top shareholder of Microsoft among the funds we track with a $3.3 billion stake that contains 75.27 million shares.

The deal between Microsoft and Google shows that the fierce competition in the tech space is slowing down, with the deal coming on the heels of last year’s Samsung and Apple Inc. (NASDAQ:AAPL) agreement to drop the litigation against one another on patent infringement outside the US.

Disclosure: None

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