Bill Ackman Loads Up on Microsoft with $2.4 Billion Stake

Pershing Square's Bill Ackman has built a $2.4 billion stake in Microsoft, calling it a 'core holding' acquired at a 'highly compelling valuation.'

The investment was made earlier this year, with Pershing Square buying over 5.65 million shares worth nearly $2.1 billion as of the end of March.

Ackman's team has shifted their tech allocation to load up on more Microsoft, selling their relatively small holding in Alphabet and bringing the company's holding in Windows maker to slightly over 6.2 million shares worth $2.3 billion by the end of June.

Pershing Square's investment strategy has been leaning into tech, with Ackman noting 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.