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US House Builders Outperform Microsoft in BNY Mellon Multi-Asset Growth Portfolio

2024-04-19 12:24:29.026000

Benchmark Financial Wealth Advisors LLC has reduced its stake in Microsoft by 1.2% in the second quarter, according to its recent disclosure with the Securities and Exchange Commission. The firm now owns 10,358 shares of Microsoft's stock, making it the 16th largest position in its investment portfolio [4c217d9a].

Capital Planning Advisors LLC has $10 million worth of holdings in Alphabet Inc., making it the 14th largest holding in their investment portfolio [cb59c108].

Both Benchmark Financial Wealth Advisors LLC and Capital Planning Advisors LLC are investment firms that have made changes to their positions in tech giants Microsoft and Alphabet Inc. respectively. These firms are part of a larger trend where institutional investors are adjusting their stakes in major technology companies. This reflects the dynamic nature of the technology sector and the constant evaluation of investment strategies by financial advisors and institutions [4c217d9a] [cb59c108].

Ken Fisher, a renowned hedge fund investor and founder of Fisher Investments, has a portfolio worth over $176 billion. His investment portfolio includes top tech giants such as Microsoft Corporation, Adobe Inc., and Eli Lilly and Company [1d60201a].

In the current investment climate, Fisher's top three stock picks are Microsoft Corporation, Adobe Inc., and Eli Lilly and Company. These stocks have been performing well and are key components of Fisher's portfolio. Additionally, Fisher's portfolio includes other notable stocks such as The Home Depot, Taiwan Semiconductor Manufacturing Company, Advanced Micro Devices, ASML Holding, and Salesforce [1d60201a].

Katherine Owen, a portfolio manager at Mackenzie Investments, has been cautious about the global economy and focuses on stock picking. The top holdings of the $5.5-billion Mackenzie Global Dividend Fund include Microsoft Corp., SAP SE, JPMorgan Chase & Co, Amazon.com Inc., and Broadcom Inc. Owen has been buying Ferguson PLC, a plumbing and heating products distributor, and Colgate-Palmolive Co., a more defensive stock. She has been trimming Novo Nordisk, the pharmaceutical company, and sold Corteva, the U.S. agricultural chemical and seed company. Owen wishes she didn't sell as much of her position in Novo Nordisk. She advises new investors to have a globally diversified portfolio [71377229].

Stanley Druckenmiller, a successful investor with a net worth of nearly $6.2 billion, holds 50 stocks in his portfolio valued at roughly $3.11 billion. Over a third of his total portfolio is invested in just three large-cap stocks. One of the stocks dominating his portfolio is Microsoft (MSFT), with approximately 1.1 million shares accounting for roughly 13.1% of his total portfolio. Microsoft's strategic investments in generative AI and gaming, including a stake in OpenAI, have been paying off. The other stock dominating Druckenmiller's portfolio is Coupang Inc. (CPNG), one of the largest retail companies in the world. Druckenmiller owns approximately 22.91 million shares of CPNG, accounting for 11.93% of his total portfolio. CPNG has shown strong financials, and analysts have issued positive ratings and price targets for the stock. Both stocks have performed well so far in 2024. Microsoft shares have surged over 10% and CPNG stock has increased over 16% [232b4ac5].

Yacktman Focused Fund, known for its objective and patient investment approach, has disclosed its first-quarter portfolio for 2024. The Fund initiated a position in Kellanova Co, purchasing 300,000 shares. The Fund also increased its stake in Kenvue Inc, adding 216,255 shares. The Fund exited its position in Weatherford International PLC, selling off 350,000 shares. The Fund reduced its positions in Associated British Foods PLC and Brenntag SE. As of the first quarter of 2024, Yacktman Focused Fund's portfolio comprised 49 stocks, with top holdings including Samsung Electronics Co Ltd, Bollore SE, Canadian Natural Resources Ltd, Microsoft Corp, and Alphabet Inc. The investments are primarily concentrated across nine industries: Communication Services, Technology, Consumer Defensive, Energy, Industrials, Consumer Cyclical, Financial Services, Basic Materials, and Healthcare [b7505ebe].

US home builders have outperformed Microsoft in the BNY Mellon Multi-Asset Growth portfolio over the past 12 months. The fund, managed by Bhavin Shah, Simon Nichols, and Paul Flood, achieved top-quartile performance over 10, five, and three years. The fund has a flexible investment approach, investing in companies with long-term structural thematic support, proven business models, and attractive valuations. The fund has a low allocation to bonds, with a focus on government bonds, particularly UK gilts over US Treasuries. The fund is bullish on technology and industrials, particularly industries related to global warming reduction. The fund has zero exposure to real estate due to negative views on the sector. The worst-performing investments in the past year were in the electric vehicle supply chain, while the top performers were Microsoft and US home builder Toll Brothers. The market has underestimated the changing business model of US home builders, which have moved away from having all land development on their balance sheets. The US housing market benefits from low interest rates and a replacement cycle, as houses are built with wood. The fund managers engage in running and cycling to manage stress and think away from screens. [bcf62bc3]

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