Bill Ackman’s Pershing Square allocates 15% of its portfolio to Microsoft, citing long-term AI strategy and undervalued OpenAI stake.
Bill Ackman’s Pershing Square holds a $2.4 billion stake in Microsoft, representing 15% of its portfolio. The position was built after Microsoft’s stock declined in early 2026 amid cloud growth concerns and heavy capital expenditure plans.
Ackman acquired the stake at roughly 21 times forward earnings, near the broader market multiple. He argues Microsoft’s 27% stake in OpenAI, potentially worth $200 billion, is undervalued by the market. The firm’s portfolio weight signals strong conviction in Microsoft’s long-term AI strategy.
The investment thesis focuses on Microsoft’s AI assets and capital spending, rather than short-term earnings performance. Ackman’s filings emphasize the stock’s potential despite its recent rally.