The Polen 5Perspectives Large Growth Composite returned 0.0% in Q3 2026, trailing the Russell 1000 Growth Index's 0.9%, as AI equities sold off amid concerns over hyperscaler capex and crowded trades. In its investor letter, the fund said its underweight position in Microsoft detracted from relative performance as the shares gained roughly 39% in the quarter, the stock's best quarter since 1991. The rally followed fiscal fourth-quarter results in which Azure and other cloud services revenue grew 43% year over year, Azure surpassed $100 billion in annual revenue for the first time, and Microsoft 365 Copilot passed 30 million paid seats. MSFT closed at $520.99 on November 3, 2026, with a market capitalization of $3.88 trillion. Microsoft ranked second on a list of 40 most popular hedge fund stocks, held by 273 hedge fund portfolios at the end of Q2 versus 282 in the prior quarter.
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Related tickers and likely impact
MSFT
▲ Likely positiveMicrosoft
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 11/03/2026 | 520.77 |
| Change that session | +2.69% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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