Bill Ackman, the chief executive officer of Pershing Square Capital Management, announced on Friday via a post on X that his hedge fund has taken a new position in Microsoft Corp.
The investment follows a recent decline in the software company's share price, which is down roughly 16% year-to-date. Ackman indicated that he believes the tech company is currently underpriced.
The specific size of the new stake will be disclosed in regulatory 13F filings later on Friday.