Investment management giant BlackRock has sliced its Microsoft stake by almost 10%, joining several other large investors who took a machete to their holdings of the software giant this year as its share price significantly underperformed the market, according to a Reuters report.

BlackRock (BLK) reduced its Microsoft holdings to 425 million shares, or a 4.97% stake, down from 470 million shares, or roughly a 5.5% stake, at the end of the quarter.

Other investors that have reduced their holdings this year include Fidelity and T. Rowe Price, according to Reuters, which noted that major hedge funds have moved in as buyers. During the year, Microsoft (MSFT) shares have taken a beating despite posting strong quarterly results, falling nearly 13% while the tech-heavy Nasdaq has climbed 11%.