Bill Ackman's Pershing Square Builds $2.4 Billion Microsoft Stake

The Motley Fool··US·Read original
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Summary · why it matters

Pershing Square founder and CEO Bill Ackman has built a stake in Microsoft worth roughly $2.4 billion, calling it a core holding bought at a highly compelling valuation. The position became public in May, when Pershing Square disclosed it had bought more than 5.65 million Microsoft shares, worth nearly $2.1 billion as of the end of March. The firm then sold its relatively small holding in Google parent Alphabet to load up on more Microsoft, bringing the holding to slightly over 6.2 million shares as of the end of June, worth $2.3 billion. Leaning into tech has been a key plank of Pershing Square's strategy: the quartet of sector stocks it held at the end of last year, Alphabet, Uber, Meta Platforms and Amazon, accounted for 40% of the portfolio in dollar terms. In a letter to shareholders covering Pershing Square's inaugural quarter as a publicly traded company, Ackman noted that in the first half of this year two of the 24 industry groups comprising S&P 500 index components, semiconductors and IT hardware, were responsible for 85% of the index's year-to-date gains.

Impact on assets 7

Artificial Intelligence± Mixed · 4 stocks
Microsoft Corporation
MSFT
▲ PositiveCapitalrelevance

Pershing Square built a ~$2.4 billion Microsoft stake, calling it a core holding bought at a compelling valuation.

Alphabet Inc Class C
GOOG
▼ NegativeCapitalrelevance

Pershing Square sold its Alphabet holding to fund the Microsoft stake, signaling reduced conviction in the stock.

Financials▲ · 1 stocks
Pershing Square Inc.
PS
▲ PositiveCapitalrelevance

Pershing Square's disclosed Microsoft stake and tech-leaning strategy are the subject of the shareholder letter.

Spatial Computing / AR/VR▲ · 1 stocks
Robotics & Physical AI▲ · 1 stocks
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