Bill Ackman's Pershing Square shifts to Microsoft, trims Alphabet in AI rally

Bill Ackman's Pershing Square hedge fund has increased its exposure to Microsoft, adding to the position after a share‑price pullback in February 2026, while cutting its stake in Alphabet. The move reflects Ackman's view that Microsoft’s Office suite and AI initiatives are undervalued and central to the ongoing artificial‑intelligence‑driven market rally.

At the same time, Pershing Square's portfolio includes sizable positions in Restaurant Brands International (QSR), Amazon.com (AMZN) and Berkshire Nashville (BN), which have been highlighted in recent quant‑rating analyses. The fund has also taken new stakes in Meta Platforms, joining other large investors who see the social‑media firm as an AI beneficiary.

These changes come as rival hedge fund Third Point pursues the opposite trade—reducing Microsoft holdings while building a position in Alphabet—underscoring divergent views among seasoned investors on which “Magnificent Seven” tech stocks will best sustain earnings growth in an increasingly competitive AI landscape.