Ackman Shifts Pershing Square from AI Surge to Broader Investment Focus

Billionaire investor Bill Ackman is recalibrating his investment portfolio in 2026, shifting away from the AI sector. As the head of Pershing Square, he has made significant adjustments to his holdings this year.

Ackman has raised $5 billion for a new initiative called Pershing Square USA, a closed-end fund that aims to facilitate investment for U.S. investors alongside Ackman's team. Almost all of the newly acquired funds have already been allocated, with approximately 95% of the $5 billion raised since its inception in late April deployed.

Ackman has also garnered new capital through the acquisition of Vantage Insurance by Howard Hughes Holdings. Following this transaction, he liquidated Vantage's intermediate and long-term bonds, reinvesting in short-term U.S. Treasuries and an equity portfolio that now holds over $1 billion in common stocks.

Ackman has divested from three prominent stocks: Alphabet, Universal Music Group, and Hertz Global. The decision to sell these shares was influenced by the opportunity to acquire Microsoft, which Ackman favored due to its robust enterprise software segment.