Ackman Exits Alphabet, Buys into Payment Giants

Pershing Square Capital Management, led by Bill Ackman, has made significant changes to its portfolio in the second quarter. The hedge fund sold its entire stake in Alphabet during this period, clearing out both its Class A and Class C shares between April and June.

This move marks a full exit from a stock that had ranked among Ackman's larger positions. 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, followed closely by Amazon at 17.4%, Uber at 15.7%, Microsoft at 15.3%, and Restaurant Brands International at 12.2%.