By Joel South
Publication Date: 2026-06-12 15:38:00
David Tepper’s Appaloosa Management cut its Microsoft position by roughly 82% in the first quarter of 2026, while Bill Ackman’s Pershing Square went the other direction, initiating a brand-new stake of roughly 5.65 million shares worth about $2.09 billion at quarter-end. Ackman started accumulating in February after Microsoft (NASDAQ:MSFT | MSFT Price Prediction) sold off following fiscal Q2 earnings, calling the stock a “highly compelling valuation” on the strength of Azure and AI. It was his only new buy of the quarter, and the name is also a core holding in Pershing Square USA, giving Ackman dual-vehicle conviction here.
So far, Tepper looks like the one positioned correctly.
What Ackman Actually Bought, And Why
Ackman’s thesis rests on the same engine that has powered Microsoft for three years: cloud and AI. In the most recent quarter, Azure grew 40%, the Intelligent Cloud segment hit $34.68 billion (+30% YoY), and the AI business surpassed a $37 billion…
