Ackman Ditches Alphabet, Bets Big on Netflix and Visa

Billionaire fund manager Bill Ackman has made significant changes to his investment fund Pershing Square's portfolio this year. According to an analysis by the Motley Fool, Ackman raised $5 billion for Pershing Square USA last quarter and has already invested 95% of the capital.

Ackman has exited three prominent companies: Alphabet (Google parent), Universal Music Group (UMG), and Hertz Global. He sold his entire stake in Alphabet after preferring Microsoft's valuation and software business, despite both companies seeing AI-driven growth. UMG rejected Ackman's takeover bid, while he shed his small position in Hertz as the company's expected turnaround did not materialize.

Ackman has added six new stocks to his portfolio: Alcon, Intercontinental Exchange, Netflix, Mastercard, S&P Global, and Visa. He invested over $934 million in Netflix, making it around 5% of the portfolio. Pershing Square Capital Management also acquired private companies, aiming to seed a new fund called Pershing Square Ventures focused on late-stage private businesses before their IPOs.