Where a 4-star manager sees value in stocks

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Inside First Eagle's portfolio: MSFT, NOV & more

A couple of old-tech stocks offered a good deal of value, four-star portfolio manager Matthew McLennan said Monday.

"We view it as entrenched technology," he said. "There's always a new flavor of the month in technology—social media today, go back 15 years ago it was the B2B Internet IPOs and the like."

McLennan, who manages $101 billion in assets, runs the First Eagle Global Fund Class A fund, which has a four-star rating from Morningstar.

On CNBC's "Halftime Report," McClennan said three of his top picks include Microsoft, Intel and National Oilwell Varco.

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