Why Steve Romick Has So Much Microsoft In Crescent Fund

“Thank you, and we do apologize for the technical difficulties that we’re having. I told Mark Landecker we shouldn’t use a Microsoft product to facilitate this call, but you might want to get into that with him in the question-and-answer,” was a tongue-in-cheek gibe at Microsoft by renowned value investor Steve Romick during FPA’s Q3 conference call. But guess what? Microsoft Corporation (NASDAQ:MSFT) shows up as the top holding (6.82% of portfolio) in Steve Romick’s FPA Crescent Fund (MUTF:FPACX) which had a value of $8.24B as of December 31, 2013. FPA Crescent Fund The FPA Crescent Fund (MUTF:FPACX) is categorized…