BOSTON Nov 14 Jonathon Jacobson's Highfields
Capital raised its stake in Microsoft sixfold during
the third quarter to 31 million shares, a regulatory filing
The Boston-based fund firm has been steadily increasing its
Microsoft holdings over the last quarters, but this increase was
particularly noteworthy because it was so dramatic.
Highfields oversees roughly $13 billion in assets and told
investors that it would be returning some cash at year's end as
it feels it can deliver better returns with less money.
In August, Microsoft Chief Executive Steve Ballmer told
employees that he planned to resign the position within the next
Hedge fund ValueAct, an activist investment firm run by
Jeffrey Ubben and already a very large shareholder, also upped
its investment by buying 9 million shares to raise its holdings
to 66.8 million shares as of Sept. 30. Microsoft shares now make
up one-fifth of ValueAct's portfolio, according to the
regulatory filing made by the hedge fund.
Microsoft offered ValueAct a board seat.
The software company's stock price has risen 17 percent in
the last three months.