Bill Ackman Exits Alphabet, Raises Bets on Microsoft & Meta
Bill Ackman‘s Pershing Square unveiled the latest changes to the hedge fund on Friday, including the newly announced re-entry into Netflix Inc (NASDAQ:NFLX).
New Positions
Pershing Square unveiled several new positions in the second quarter, which ended June 30, 2026. Here’s a look at the changes to the portfolio compared to first quarter.
- Netflix Inc (NASDAQ:NFLX): Add 13,081,465 shares
- Mastercard (NYSE:MA): Add 2,124,646 shares
- Visa Inc (NYSE:V): Add 3,270,470 shares
- S&P Global Inc (NYSE:SPGI): Add 2,593,155 shares
- Pershing Square USA (NYSE:PSUS): Add 4,000,000 shares
Exited Positions
In the second quarter, Pershing Square exited positions in the following stocks:
Portfolio Changes
The second-quarter 13F showed changes in the existing stocks held by Pershing Square. Here are the top decreases in stakes by Pershing Square in the second quarter, by percentage.
- Amazon.com Inc (NASDAQ:AMZN): -25.2%
- Brookfield Corp (NYSE:BN): -3.7%
- Hertz Global Holdings (NASDAQ:HTZ): -1.6%
Here are the top additions in the second quarter by percentage:
- Meta Platforms (NASDAQ:META): +20.1%
- Uber Technologies (NYSE:UBER): +14.6%
- Restaurant Brands International (NYSE:QSR): +14.0%
- Microsoft Corporation (NASDAQ:MSFT): +9.8%
Top Holdings
At the end of the second quarter, these were the largest stock holdings in the Pershing Square portfolio and their valuation at the time:
- Uber: $2.48 billion
- Brookfield: $2.45 billion
- Microsoft: $2.32 billion
- Amazon: $2.04 billion
- Howard Hughes: $1.99 billion
- Restaurant Brands: $1.87 billion
- Meta Platforms: $1.80 billion
- Visa: $1.12 billion
- Mastercard: $1.09 billion
- S&P Global: $1.06 billion
- Netflix: $934 million
New stakes in Visa, Mastercard and S&P Global all landed in the top 10 to end the quarter. Ackman’s Magnificent Seven exposure went in two directions: he added to Microsoft and Meta, both top-10 holdings, while cutting Amazon and exiting Alphabet’s Class A and Class C shares outright. Amazon is still a top-five position.
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