Is This the Time to Add Microsoft Corporation (MSFT) to Your Portfolio?

Weitz Investment Management, an investment management firm, released its “Partners III Opportunity Fund” first-quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund’s Institutional Class returned +3.06% compared to a +7.18% return for the Russell 3000 Index. The fund returned -15.80% for the fiscal year ended March 31, 2023, compared to a -8.58% return for the benchmark. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Weitz Partners III Opportunity Fund highlighted stocks like Microsoft Corporation (NASDAQ:MSFT) in the first quarter 2023 investor letter. Headquartered in Redmond, Washington, Microsoft Corporation (NASDAQ:MSFT) is a multinational software company that develops, and licenses software, services, devices, and solutions. On June 26, 2023, Microsoft Corporation (NASDAQ:MSFT) stock closed at $328.60 per share. One-month return of Microsoft Corporation (NASDAQ:MSFT) was -0.79%, and its shares gained 28.12% of their value over the last 52 weeks. Microsoft Corporation (NASDAQ:MSFT) has a market capitalization of $2.443 trillion.

Weitz Partners III Opportunity Fund made the following comment about Microsoft Corporation (NASDAQ:MSFT) in its first quarter 2023 investor letter:

“Technology companies broadly delivered outsized gains in the quarter, including our holdings of Google parent Alphabet, Amazon.com, and Microsoft Corporation (NASDAQ:MSFT), each a top contributor to first quarter results. Notably, Microsoft’s timely addition to the portfolio during the fourth quarter was sufficient to drive a top result for the fiscal year.”

Roman Pyshchyk/Shutterstock.c.om

Microsoft Corporation (NASDAQ:MSFT) holds the first position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 289 hedge fund portfolios held Microsoft Corporation (NASDAQ:MSFT) at the end of first quarter 2023 which was 259 in the previous quarter.

We discussed Microsoft Corporation (NASDAQ:MSFT) in another article and shared the list of best esports stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.