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Equity Research Database
Institutional Investment Pitches
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Microsoft’s share price increased 38% during the third quarter and 27% year-to-date from our average cost. The company is...
— William A. Ackman
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Other investors who've written on Microsoft Corporation
Microsoft (1.9 pp) and ServiceNow (1.4 pp) were among the main contributors to performance as their shares rose 37.8% and 35.0% respectively. Earlier this year,...
Selection within Information Technology contributed most, including overweight positions in Microsoft Corp. (Information Technology sector), Meta Platforms Inc. (Communication Services sector), Salesforce Inc. (Information Technology sector) and Workday Inc. (Information Technology sector).
Microsoft was the Fund’s second best-performing stock over the third quarter, with the majority of the outperformance coming in July following an exceptionally strong earnings release. Microsoft has one...
More institutional theses from Pershing Square Holdings
QSR's share price declined 1% during the third quarter but remains up 7% year-to-date, as we believe investors are beginning to better appreciate the durability of its growth. While peers have...
ICE’s share price rose 2% from our average cost in the third quarter as record volumes on ICE’s futures and options exchanges and accelerating growth in its data businesses have been somewhat offset by concerns around the sustainability of recent Exchanges volumes, the perceived threat of perpetual futures, and the impact of higher rates on Mortgage Technology. We remain confident...
Meta’s share price increased 29% during the third quarter and 10% year-to-date. Its core advertising...