Hedge Fund Takes $2 Billion Stake in Microsoft

A hedge-fund executive disclosed that he owns about $2 billion in Microsoft Corp. stock, stating that the value of the software giant’s businesses wasn’t appreciated by other investors.

Jeffrey W. Ubben, founder ValueAct Capital Management L.P., discussed the stake Monday at an investor conference. ValueAct hasn’t disclosed how many Microsoft shares it bought, but the stated value suggests ValueAct holds less than 1 percent of Microsoft’s total stock outstanding.

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