Bill Ackman says he built Microsoft position in first quarter

“As two of the largest forces in equity markets — growing index ownership and increasing amounts of capital controlled by extremely short-term-oriented, leveraged, volatility-intolerant investors — converge, we have found occasional opportunities to acquire some of the most dominant long-term compounding franchises at attractive valuations,” the post said. “In our 13F which we will file later today, we will disclose a new  position in Microsoft, a company we have followed for many years now offered at a highly compelling valuation.”

While Ackman didn’t note the size of his stake in the tech giant, he called it a “core holding.”

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