Sir Christopher Hohn’s activist hedge fund, TCI, sold nearly its entire $8 billion stake in Microsoft.
The fund reduced its Microsoft position from 10% of its portfolio at the end of 2025.
The stake dropped to 1% by the end of March 2026.
An investor letter cited concerns that rapid AI advancements threaten Microsoft’s core revenue streams.
TCI warned that AI could disrupt Office software workflows and Azure cloud computing.
The fund noted these risks could enable the rise of new competing platforms.