Decision Timeline

MSFT, decision by decision.

Not just who owns it now. This is the sequence of material choices managers reported, when each choice became visible, and the observed result after disclosure.

Material decisions: 80
Buy / add: 34
Trim / exit: 46

The cohort disagreed in Q2 2026.

At least one tracked manager bought or added while another trimmed or exited. The disagreement is the signal; it is not collapsed into a consensus score.

Eight-quarter evidence

8 reported quarters

Q2 2026
filed Sep 2, 2026
64d lag
ADD+42.9%
Joel Greenblatt · 0.8% of reported portfolio
Original SEC filing ↗
+1.7% vs SPY
21 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 24, 2026
55d lag
ADD+192.8%
First Eagle Investment Management · 1.2% of reported portfolio
Original SEC filing ↗
+4.5% vs SPY
28 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 17, 2026
48d lag
ADD+25.0%
AltaRock Partners · 20.5% of reported portfolio
Original SEC filing ↗
+7.1% vs SPY
33 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 14, 2026
45d lag
NEWNEW
Dennis Hong · 7.3% of reported portfolio
Original SEC filing ↗
+8.1% vs SPY
34 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 14, 2026
45d lag
ADD+21.1%
David Rolfe · 6.9% of reported portfolio
Original SEC filing ↗
+8.1% vs SPY
34 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 14, 2026
45d lag
TRIM-23.9%
Terry Smith · 5.6% of reported portfolio
Original SEC filing ↗
+8.1% vs SPY
34 sessions after disclosure
direction not supported so far
Q2 2026
filed Aug 14, 2026
45d lag
ADD+31.3%
Robert Vinall · 3.2% of reported portfolio
Original SEC filing ↗
+8.1% vs SPY
34 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 14, 2026
45d lag
TRIM-36.8%
Viking Global Investors · 2.4% of reported portfolio
Original SEC filing ↗
+8.1% vs SPY
34 sessions after disclosure
direction not supported so far
Q2 2026
filed Aug 14, 2026
45d lag
EXITEXIT
Chris Hohn · 2.2% of reported portfolio
Original SEC filing ↗
+8.1% vs SPY
34 sessions after disclosure
direction not supported so far
Q2 2026
filed Aug 14, 2026
45d lag
TRIM-25.8%
Duan Yongping · 1.9% of reported portfolio
Original SEC filing ↗
+8.1% vs SPY
34 sessions after disclosure
direction not supported so far
Q2 2026
filed Aug 14, 2026
45d lag
EXITEXIT
David Tepper · 0.6% of reported portfolio
Original SEC filing ↗
+8.1% vs SPY
34 sessions after disclosure
direction not supported so far
Q2 2026
filed Aug 7, 2026
38d lag
TRIM-37.0%
Jensen Investment Management · 8.5% of reported portfolio
Original SEC filing ↗
+2.6% vs SPY
39 sessions after disclosure
direction not supported so far
Q2 2026
filed Aug 4, 2026
35d lag
TRIM-26.3%
Polen Capital Management · 7.3% of reported portfolio
Original SEC filing ↗
+6.1% vs SPY
42 sessions after disclosure
direction not supported so far
Q2 2026
filed Jul 30, 2026
30d lag
TRIM-53.5%
Torray Funds · 4.2% of reported portfolio
Original SEC filing ↗
+8.3% vs SPY
45 sessions after disclosure
direction not supported so far
Q2 2026
filed Jul 29, 2026
29d lag
TRIM-93.8%
William Von Mueffling · 2.7% of reported portfolio
Original SEC filing ↗
+10.9% vs SPY
46 sessions after disclosure
direction not supported so far
Q2 2026
filed Jul 7, 2026
7d lag
EXITEXIT
Robert Olstein · 1.4% of reported portfolio
Original SEC filing ↗
+31.8% vs SPY
62 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
NEWNEW
Bill Ackman · 15.3% of reported portfolio
Original SEC filing ↗
+8.8% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed May 15, 2026
45d lag
TRIM-83.7%
Chris Hohn · 15.1% of reported portfolio
Original SEC filing ↗
+8.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
EXITEXIT
Bill & Melinda Gates Foundation Trust · 10.5% of reported portfolio
Original SEC filing ↗
+8.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
TRIM-54.4%
Chase Coleman · 8.9% of reported portfolio
Original SEC filing ↗
+8.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
TRIM-28.0%
AKO Capital · 7.5% of reported portfolio
Original SEC filing ↗
+8.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
EXITEXIT
Daniel Loeb · 6.1% of reported portfolio
Original SEC filing ↗
+8.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
TRIM-36.9%
Lee Ainslie · 6.0% of reported portfolio
Original SEC filing ↗
+8.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
EXITEXIT
Stephen Mandel · 4.4% of reported portfolio
Original SEC filing ↗
+8.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
TRIM-28.2%
Viking Global Investors · 4.1% of reported portfolio
Original SEC filing ↗
+8.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
TRIM-82.0%
David Tepper · 3.5% of reported portfolio
Original SEC filing ↗
+8.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 14, 2026
44d lag
TRIM-27.2%
Polen Capital Management · 8.1% of reported portfolio
Original SEC filing ↗
+12.4% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 14, 2026
44d lag
ADD+60.7%
Dodge & Cox Funds · 2.4% of reported portfolio
Original SEC filing ↗
+12.4% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed May 14, 2026
44d lag
TRIM-63.9%
John Rogers · 0.9% of reported portfolio
Original SEC filing ↗
+12.4% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 14, 2026
44d lag
ADD+137.6%
First Eagle Investment Management · 0.6% of reported portfolio
Original SEC filing ↗
+12.4% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed May 13, 2026
43d lag
EXITEXIT
John Armitage · 9.2% of reported portfolio
Original SEC filing ↗
+17.4% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 11, 2026
41d lag
ADD+119.3%
Robert Vinall · 2.5% of reported portfolio
Original SEC filing ↗
+19.2% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed May 1, 2026
31d lag
ADD+128.9%
Torray Funds · 4.2% of reported portfolio
Original SEC filing ↗
+12.4% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed Apr 22, 2026
22d lag
ADD+20.1%
David Katz · 5.8% of reported portfolio
Original SEC filing ↗
-12.5% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed Apr 21, 2026
21d lag
ADD+67.0%
Robert Olstein · 1.4% of reported portfolio
Original SEC filing ↗
-15.0% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2025
filed Feb 17, 2026
48d lag
TRIM-33.5%
Terry Smith · 8.1% of reported portfolio
Original SEC filing ↗
-1.7% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2025
filed Feb 17, 2026
48d lag
ADD+32.5%
Viking Global Investors · 4.1% of reported portfolio
Original SEC filing ↗
-1.7% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2025
filed Feb 17, 2026
48d lag
ADD+207.7%
Duan Yongping · 2.4% of reported portfolio
Original SEC filing ↗
-1.7% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2025
filed Feb 13, 2026
44d lag
ADD+23.5%
Lee Ainslie · 6.0% of reported portfolio
Original SEC filing ↗
-2.0% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2025
filed Feb 12, 2026
43d lag
TRIM-22.1%
Polen Capital Management · 8.4% of reported portfolio
Original SEC filing ↗
-7.8% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Dec 29, 2025
90d lag
TRIM-78.9%
Christopher Davis · 0.7% of reported portfolio
Original SEC filing ↗
-18.8% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 14, 2025
45d lag
TRIM-64.9%
Bill & Melinda Gates Foundation Trust · 27.3% of reported portfolio
Original SEC filing ↗
-24.5% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 14, 2025
45d lag
TRIM-36.8%
Terry Smith · 10.7% of reported portfolio
Original SEC filing ↗
-24.5% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 14, 2025
45d lag
ADD+175.0%
Daniel Loeb · 6.8% of reported portfolio
Original SEC filing ↗
-24.5% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2025
filed Nov 14, 2025
45d lag
TRIM-34.8%
Stephen Mandel · 6.7% of reported portfolio
Original SEC filing ↗
-24.5% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 14, 2025
45d lag
ADD+23.7%
Lee Ainslie · 6.5% of reported portfolio
Original SEC filing ↗
-24.5% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2025
filed Nov 14, 2025
45d lag
NEWNEW
Viking Global Investors · 3.3% of reported portfolio
Original SEC filing ↗
-24.5% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2025
filed Nov 14, 2025
45d lag
EXITEXIT
Stanley Druckenmiller · 2.6% of reported portfolio
Original SEC filing ↗
-24.5% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 14, 2025
45d lag
ADD+100.3%
Joel Greenblatt · 1.6% of reported portfolio
Original SEC filing ↗
-24.5% vs SPY
63 sessions after disclosure
direction not supported so far
Q2 2025
filed Aug 15, 2025
46d lag
NEWNEW
Stanley Druckenmiller · 2.6% of reported portfolio
Original SEC filing ↗
-7.3% vs SPY
63 sessions after disclosure
direction not supported so far
Q2 2025
filed Aug 14, 2025
45d lag
ADD+80.9%
Lee Ainslie · 5.8% of reported portfolio
Original SEC filing ↗
-8.1% vs SPY
63 sessions after disclosure
direction not supported so far
Q2 2025
filed Aug 14, 2025
45d lag
ADD+27.0%
Daniel Loeb · 2.6% of reported portfolio
Original SEC filing ↗
-8.1% vs SPY
63 sessions after disclosure
direction not supported so far
Q2 2025
filed Aug 14, 2025
45d lag
ADD+72.0%
John Rogers · 1.2% of reported portfolio
Original SEC filing ↗
-8.1% vs SPY
63 sessions after disclosure
direction not supported so far
Q2 2025
filed Aug 14, 2025
45d lag
ADD+1635.8%
Joel Greenblatt · 0.9% of reported portfolio
Original SEC filing ↗
-8.1% vs SPY
63 sessions after disclosure
direction not supported so far
Q2 2025
filed Aug 14, 2025
45d lag
EXITEXIT
Viking Global Investors · 0.8% of reported portfolio
Original SEC filing ↗
-8.1% vs SPY
63 sessions after disclosure
direction supported so far
Q2 2025
filed Aug 12, 2025
43d lag
ADD+38.8%
John Armitage · 9.4% of reported portfolio
Original SEC filing ↗
-8.6% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed May 15, 2025
45d lag
ADD+23.6%
Chris Hohn · 15.0% of reported portfolio
Original SEC filing ↗
+5.9% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 15, 2025
45d lag
TRIM-47.4%
David Tepper · 6.3% of reported portfolio
Original SEC filing ↗
+5.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed May 15, 2025
45d lag
TRIM-33.3%
Lee Ainslie · 4.7% of reported portfolio
Original SEC filing ↗
+5.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed May 15, 2025
45d lag
TRIM-47.5%
Daniel Loeb · 3.4% of reported portfolio
Original SEC filing ↗
+5.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed May 15, 2025
45d lag
TRIM-24.9%
Hillman Capital Management · 3.4% of reported portfolio
Original SEC filing ↗
+5.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed May 15, 2025
45d lag
TRIM-71.4%
Viking Global Investors · 3.3% of reported portfolio
Original SEC filing ↗
+5.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed May 15, 2025
45d lag
NEWNEW
Duan Yongping · 0.9% of reported portfolio
Original SEC filing ↗
+5.9% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 15, 2025
45d lag
TRIM-88.0%
Joel Greenblatt · 0.4% of reported portfolio
Original SEC filing ↗
+5.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed May 14, 2025
44d lag
ADD+44.7%
Triple Frond Partners · 20.4% of reported portfolio
Original SEC filing ↗
+5.8% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 14, 2025
44d lag
ADD+36.3%
AltaRock Partners · 19.5% of reported portfolio
Original SEC filing ↗
+5.8% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 9, 2025
39d lag
ADD+193.3%
Wallace Weitz · 2.7% of reported portfolio
Original SEC filing ↗
+7.0% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 6, 2025
36d lag
TRIM-24.4%
John Armitage · 8.6% of reported portfolio
Original SEC filing ↗
+8.3% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2024
filed Feb 14, 2025
45d lag
ADD+44.5%
Vulcan Value Partners · 8.4% of reported portfolio
Original SEC filing ↗
+13.9% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2024
filed Feb 14, 2025
45d lag
EXITEXIT
Josh Tarasoff · 5.1% of reported portfolio
Original SEC filing ↗
+13.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2024
filed Feb 14, 2025
45d lag
TRIM-31.0%
Daniel Loeb · 5.0% of reported portfolio
Original SEC filing ↗
+13.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2024
filed Feb 14, 2025
45d lag
TRIM-41.3%
John Rogers · 1.0% of reported portfolio
Original SEC filing ↗
+13.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2024
filed Feb 14, 2025
45d lag
EXITEXIT
Stanley Druckenmiller · 0.7% of reported portfolio
Original SEC filing ↗
+13.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2024
filed Feb 14, 2025
45d lag
TRIM-25.0%
Joel Greenblatt · 0.6% of reported portfolio
Original SEC filing ↗
+13.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2024
filed Feb 10, 2025
133d lag
TRIM-22.0%
Polen Capital Management · 10.1% of reported portfolio
Original SEC filing ↗
+12.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2024
filed Jan 22, 2025
22d lag
NEWNEW
Robert Vinall · 1.0% of reported portfolio
Original SEC filing ↗
-4.1% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2024
filed Nov 14, 2024
45d lag
TRIM-55.9%
Josh Tarasoff · 10.9% of reported portfolio
Original SEC filing ↗
-4.8% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2024
filed Nov 14, 2024
45d lag
TRIM-44.9%
Daniel Loeb · 8.1% of reported portfolio
Original SEC filing ↗
-4.8% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2024
filed Nov 14, 2024
45d lag
TRIM-89.2%
Stanley Druckenmiller · 6.3% of reported portfolio
Original SEC filing ↗
-4.8% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2024
filed Oct 31, 2024
31d lag
ADD+35.7%
Robert Olstein · 0.7% of reported portfolio
Original SEC filing ↗
-5.0% vs SPY
63 sessions after disclosure
direction not supported so far

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