Ackman Exits Alphabet, Adds Payment Giants to Portfolio

Billionaire investor Bill Ackman's hedge fund, Pershing Square Capital Management, made significant changes to its portfolio in the second quarter. The firm sold its entire stake in Alphabet, the parent company of Google, clearing out both Class A and Class C shares between April and June.

This move marks a full exit from one of Ackman's larger positions, which had ranked among his top holdings. In its place, Pershing Square opened stakes in Visa, Mastercard, and S&P Global, each of which ended the quarter inside the firm's top 10 holdings.

Ackman also re-entered Netflix, returning to a stock he had previously owned. The reshuffle left Brookfield as Pershing Square's largest single position at about 17.6% of the portfolio.