Ackman Loads Up on Microsoft with $2.4 Billion Bet

Pershing Square founder and CEO Bill Ackman has built a significant stake in Microsoft, investing over $2.4 billion in the company.

Ackman's investment in Microsoft is part of his broader strategy to focus on tech stocks, which he believes are undervalued and poised for growth.

Pershing Square acquired more than 5.65 million shares of Microsoft in May, worth nearly $2.1 billion at the end of March. The company later sold its holding in Alphabet to load up on more Microsoft shares, bringing its total holding to over 6.2 million shares worth $2.3 billion by June.

Ackman's letter to shareholders explained that two industry groups - semiconductors and IT hardware - were responsible for 85% of the S&P 500 index's year-to-date gains in the first half of this year, making tech a compelling investment opportunity.