Ackman Takes $2.1 Billion Microsoft Stake in Tech Bet (1)

Bill Ackman’s Pershing Square has built a $2.1 billion stake in Microsoft Corp., taking advantage of a decline in the company’s share price to invest in a business that he said is stronger and more resilient than investors think.

The hedge fund has made Microsoft a core holding, Ackman said in a post on X on Friday, calling its 365 suite of products including Word and Excel and its Azure cloud service “two of the most valuable franchises in enterprise technology.” Pershing Square’s position amounts to less than a tenth of 1% of the company’s market value.

Ackman ...