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ValueAct Hedge Fund's Big Microsoft Bet Is Paying Off So Far

When Jeffrey Ubben’s ValueAct Capital Management disclosed its $2 billion position in in April, it seemed like the activist hedge fund could be in over its head in trying to shake things up and bring change to the long-languishing Microsoft. Ubben was betting a big chunk of his hedge fund’s $12 billion under management, but it was a tiny stake in the software giant amounting to 0.8% of the company’s shares.