Pansing Square liquidates Alphabet holdings while establishing a position in Microsoft.

AIMPACT News on May 16 (UTC+8) reported that Pershing Square Capital Management, the hedge fund firm founded and managed by the well-known investor Bill Ackman, has built a new position and sold its long-held shares of Alphabet, the parent company of tech giant Google, following the recent decline in Microsoft’s stock price. At the end of the first quarter, Pershing Square still held some Alphabet shares, but a person familiar with its portfolio said that Bill Ackman no longer holds any Alphabet shares and has fully liquidated them in the second quarter. Ackman believes that after the recent drop in the stock price, Microsoft’s current valuation is “extremely attractive.” He said that investing in Microsoft is the latest in a series of investments in technology companies, all of which have attractive valuations and long-term dominant growth potential. Ackman also said that Microsoft has two of the most valuable enterprise technology businesses—its Azure cloud services division and the M365 Office productivity suite, which includes the $30-per-month Copilot AI assistant—placing Microsoft at the core of the rapidly growing enterprise AI application market. (Source: BlockBeats)