Highfields Capital Management’s Microsoft MSFT Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2017 Q1	–	Sell	-2,497,304	Closed	-$155M	–	82
2016 Q4	$155M	Sell	2,497,304 -26,371	-1%	-$1.59M	1.29%	23
2016 Q3	$145M	Sell	2,523,675 -2,927,535	-54%	-$165M	1.36%	23
2016 Q2	$279M	Buy	+5,451,210	New	+$283M	2.43%	17
2016 Q1	–	Sell	-12,792,446	Closed	-$710M	–	78
2015 Q4	$710M	Sell	12,792,446 -2,750,000	-18%	-$145M	6.11%	3
2015 Q3	$688M	Buy	15,542,446 +5,099,699	+49%	+$229M	6.07%	3
2015 Q2	$461M	Buy	10,442,747 +300,000	+3%	+$13.7M	4.14%	7
2015 Q1	$412M	Buy	10,142,747 +2,195,000	+28%	+$95.6M	3.68%	8
2014 Q4	$369M	Hold	7,947,747	–	–	3.14%	9
2014 Q3	$368M	Hold	7,947,747	–	–	2.87%	11
2014 Q2	$331M	Hold	7,947,747	–	–	2.43%	10
2014 Q1	$326M	Sell	7,947,747 -8,350,000	-51%	-$313M	2.73%	10
2013 Q4	$610M	Sell	16,297,747 -15,000,000	-48%	-$545M	4.96%	4
2013 Q3	$1.04B	Buy	31,297,747 +26,297,747	+526%	+$865M	8.23%	2
2013 Q2	$173M	Buy	+5,000,000	New	+$164M	1.43%	22