Disagreement Dossier · Q2 2026

Why great investors disagree on MSFT.

Microsoft Corp

6 tracked managers bought or added while 10 trimmed or exited in Q2 2026. These are disclosed position changes; the filings do not reveal why the managers disagreed.

Buying: 6
Selling: 10
Disagreement: 83
Later evidence: Buyers lead so far

Compare the changes and SEC sources ↓

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The buy side

Joel Greenblatt43%
0.8% current reported weight · 0.7% before → 0.8% after · filed 2026-09-02
+1.7% vs SPY · 21 sessions
SEC source ↗
First Eagle Investment Management193%
1.2% current reported weight · 0.6% before → 1.2% after · filed 2026-08-24
+4.5% vs SPY · 28 sessions
SEC source ↗
AltaRock Partners25%
20.5% current reported weight · 16.8% before → 20.5% after · filed 2026-08-17
+7.1% vs SPY · 33 sessions
SEC source ↗
Dennis HongNEW
7.3% current reported weight · 0.0% before → 7.3% after · filed 2026-08-14
+8.1% vs SPY · 34 sessions
SEC source ↗
David Rolfe21%
6.9% current reported weight · 5.7% before → 6.9% after · filed 2026-08-14
+8.1% vs SPY · 34 sessions
SEC source ↗
Robert Vinall31%
3.2% current reported weight · 2.5% before → 3.2% after · filed 2026-08-14
+8.1% vs SPY · 34 sessions
SEC source ↗

The sell side

Terry Smith24%
5.6% prior reported weight · 5.6% before → 4.2% after · filed 2026-08-14
+8.1% vs SPY · 34 sessions
SEC source ↗
Viking Global Investors37%
2.4% prior reported weight · 2.4% before → 1.6% after · filed 2026-08-14
+8.1% vs SPY · 34 sessions
SEC source ↗
Chris HohnEXIT
2.2% prior reported weight · 2.2% before → 0.0% after · filed 2026-08-14
+8.1% vs SPY · 34 sessions
SEC source ↗
Duan Yongping26%
1.9% prior reported weight · 1.9% before → 1.5% after · filed 2026-08-14
+8.1% vs SPY · 34 sessions
SEC source ↗
David TepperEXIT
0.6% prior reported weight · 0.6% before → 0.0% after · filed 2026-08-14
+8.1% vs SPY · 34 sessions
SEC source ↗
Jensen Investment Management37%
8.5% prior reported weight · 8.5% before → 6.7% after · filed 2026-08-07
+2.6% vs SPY · 39 sessions
SEC source ↗
Polen Capital Management26%
7.3% prior reported weight · 7.3% before → 6.7% after · filed 2026-08-04
+6.1% vs SPY · 42 sessions
SEC source ↗
Torray Funds53%
4.2% prior reported weight · 4.2% before → 1.8% after · filed 2026-07-30
+8.3% vs SPY · 45 sessions
SEC source ↗
William Von Mueffling94%
2.7% prior reported weight · 2.7% before → 3.9% after · filed 2026-07-29
+10.9% vs SPY · 46 sessions
SEC source ↗
Robert OlsteinEXIT
1.4% prior reported weight · 1.4% before → 0.0% after · filed 2026-07-07
+31.8% vs SPY · 62 sessions
SEC source ↗

Buy-side stakes use current reported weights; sell-side stakes use prior weights to show what was reduced. Both before and after are shown. Each stock return begins after that manager's filing, so observation windows can differ.

Eight-quarter decision map

How the disagreement evolved

Each row preserves the managers and their material reported action. A split means both sides acted in the same quarter; a one-sided row supplies the surrounding context.

Quarter

Bought or added

Trimmed or exited

Q2 2026
Split
Bought or added
- Joel GreenblattADD 43%
- First Eagle Investment ManagementADD 193%
- AltaRock PartnersADD 25%
- Dennis HongNEW
- David RolfeADD 21%
- Robert VinallADD 31%
Trimmed or exited
- Terry SmithTRIM 24%
- Viking Global InvestorsTRIM 37%
- Chris HohnEXIT
- Duan YongpingTRIM 26%
- David TepperEXIT
- Jensen Investment ManagementTRIM 37%
- Polen Capital ManagementTRIM 26%
- Torray FundsTRIM 53%
- William Von MuefflingTRIM 94%
- Robert OlsteinEXIT
Q1 2026
Split
Bought or added
- Bill AckmanNEW
- Dodge & Cox FundsADD 61%
- First Eagle Investment ManagementADD 138%
- Robert VinallADD 119%
- Torray FundsADD 129%
- David KatzADD 20%
- Robert OlsteinADD 67%
Trimmed or exited
- Chris HohnTRIM 84%
- Bill & Melinda Gates Foundation TrustEXIT
- Chase ColemanTRIM 54%
- AKO CapitalTRIM 28%
- Daniel LoebEXIT
- Lee AinslieTRIM 37%
- Stephen MandelEXIT
- Viking Global InvestorsTRIM 28%
- David TepperTRIM 82%
- Polen Capital ManagementTRIM 27%
- John RogersTRIM 64%
- John ArmitageEXIT
Q4 2025
Split
Bought or added
- Viking Global InvestorsADD 32%
- Duan YongpingADD 208%
- Lee AinslieADD 23%
Trimmed or exited
- Terry SmithTRIM 34%
- Polen Capital ManagementTRIM 22%
Q3 2025
Split
Bought or added
- Daniel LoebADD 175%
- Lee AinslieADD 24%
- Viking Global InvestorsNEW
- Joel GreenblattADD 100%
Trimmed or exited
- Christopher DavisTRIM 79%
- Bill & Melinda Gates Foundation TrustTRIM 65%
- Terry SmithTRIM 37%
- Stephen MandelTRIM 35%
- Stanley DruckenmillerEXIT
Q2 2025
Split
Bought or added
- Stanley DruckenmillerNEW
- Lee AinslieADD 81%
- Daniel LoebADD 27%
- John RogersADD 72%
- Joel GreenblattADD 1636%
- John ArmitageADD 39%
Trimmed or exited
- Viking Global InvestorsEXIT
Q1 2025
Split
Bought or added
- Chris HohnADD 24%
- Duan YongpingNEW
- Triple Frond PartnersADD 45%
- AltaRock PartnersADD 36%
- Wallace WeitzADD 193%
Trimmed or exited
- David TepperTRIM 47%
- Lee AinslieTRIM 33%
- Daniel LoebTRIM 48%
- Hillman Capital ManagementTRIM 25%
- Viking Global InvestorsTRIM 71%
- Joel GreenblattTRIM 88%
- John ArmitageTRIM 24%
Q4 2024
Split
Bought or added
- Vulcan Value PartnersADD 45%
- Robert VinallNEW
Trimmed or exited
- Josh TarasoffEXIT
- Daniel LoebTRIM 31%
- John RogersTRIM 41%
- Stanley DruckenmillerEXIT
- Joel GreenblattTRIM 25%
Q3 2024
Split
Bought or added
- Robert OlsteinADD 36%
Trimmed or exited
- Polen Capital ManagementTRIM 22%
- Josh TarasoffTRIM 56%
- Daniel LoebTRIM 45%
- Stanley DruckenmillerTRIM 89%

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The disagreement score ranks the balance of opposing managers, decision breadth, portfolio stakes, and change magnitude. Later evidence compares each stock with SPY after disclosure; it does not estimate a manager's trade return.