Bill Ackman's Pershing Square Adds Microsoft, Cuts Alphabet Stake

Pershing Square Capital Management, the hedge fund run by Bill Ackman, reported a $13.71 billion equity portfolio for the quarter ending March 31, 2026. The fund’s top ten holdings accounted for roughly 99.93 % of assets, reflecting a highly concentrated strategy.

The filing shows a new position in Microsoft worth about $2.09 billion, giving the software giant a 15.26 % weight in the portfolio. Amazon holdings also rose, while positions in Uber and Brookfield saw modest reductions. In contrast, the fund sharply reduced its Alphabet stake, selling roughly 94.94 % of its Class C shares and leaving a residual value of $89.42 million (0.65 % of the portfolio). Ackman’s moves signal a stronger focus on U.S. technology and AI‑related infrastructure companies.

Analysts note the adjustments underscore Pershing Square’s confidence in cloud and artificial‑intelligence platforms as growth drivers, while maintaining its long‑term, low‑turnover investment philosophy.