Value investing firm Pzena Investment Management established a significant new position in Microsoft (MSFT) during the third quarter of 2026, according to a recent SEC disclosure. The firm's quarterly commentary confirmed the move, stating, "We initiated a position in Microsoft." The filing, which reflects holdings as of September 30, 2026, revealed the acquisition of nearly 241,000 shares valued at approximately $123.6 million.
This trade is a notable addition for the firm, making Microsoft a new 0.36% position in its portfolio. The investment preceded Microsoft's late October earnings report, where the company announced strong results, including a 48% increase in Azure revenue. As 13F filings are delayed, this represents a position taken between July and September and may not reflect the firm's current holdings.