Billionaire investor Bill Ackman announced Friday that Pershing Square has built a new position in Microsoft starting in February, arguing the company's massive AI investments aren't reflected in its slumping share price. The stake will be disclosed in regulatory filings later today.
Billionaire investor Bill Ackman announced Friday that Pershing Square has built a new position in Microsoft starting in February, arguing the company's massive AI investments aren't reflected in its slumping share price. The stake will be disclosed in regulatory filings later today.
Bill Ackman's Pershing Square Capital Management has taken a new stake in Microsoft (MSFT), a bet that the software giant's investments in artificial intelligence aren't reflected in the company's slumping share price.
Ackman said in a post on X Friday that Pershing had started building the position in Microsoft in February, after the company's shares declined following its earnings report. He plans to disclose the stake in regulatory filings later Friday.
The move marks one of the highest-profile institutional bets on the AI trade in 2026. Microsoft has been the largest single investor in OpenAI, having committed over $13 billion to the AI lab, and has been rapidly integrating AI capabilities across its Azure cloud platform, Microsoft 365 suite, and GitHub Copilot product line.
MSFT shares have been under pressure despite the company's AI positioning. The stock closed Thursday at approximately $440, down from highs above $470 earlier in the year, as investors questioned the timeline for AI revenue to materialize against massive capital expenditure commitments.
Pershing Square manages approximately $10 billion in assets. Based on the fund's typical position sizing—which concentrates on 6-8 core holdings—the Microsoft stake could represent $1-2 billion, making it one of the largest new positions taken by any hedge fund in a mega-cap AI stock this year.
The disclosure will come in the form of a 13F filing, which institutional managers with over $100 million in assets must file quarterly. Pershing Square's most recent 13F, filed in February, showed concentrated positions in companies including Hilton, Chipotle, and Brookfield. Microsoft would represent a significant pivot toward Big Tech for the activist investor.
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