Pershing Square liquidates Alphabet position

Pershing Square Capital Management, led by Bill Ackman, reported approximately $19.47 billion in assets under management for the second quarter, according to SEC 13F filings.

The quarterly report reveals a significant shift in the firm's portfolio strategy. Most notably, Pershing Square has completely liquidated its position in Alphabet. While the firm added four new positions and increased several existing holdings, the total exit from Alphabet marks a major realignment of its US equity bets.