When the set is of 12, that's 4 of 12, which is exactly one third, assuming independent participation (which obviously is what makes the number optimistic/ a ceiling).
> Given a sample size of one pipeline
Fair! If the OP only ever hires one person, you are correct. At Microsoft's scale, they are more like "the house" at a casino, and so their ratios should more closely approximate the population.
I am making the larger point that yes, in one instance, this hiring manager could have experienced a challenge building a diverse pipeline, but that this experience is not generalizable to Microsoft or the industry as a whole. And the related takeaway that if your pipeline is routinely not presenting you with the significant plurality represented by "diverse" candidates, then you have a solvable process problem.