$PS

Bill Ackman's Pershing Square has 44.4% of its $19.5B portfolio in Uber (UBER), Microsoft (MSFT), Amazon (AMZN), and Meta (META), focusing on AI applications. These companies have strong market positions and attractive valuations, according to Ackman.

Bill Ackman's Pershing Square Capital Management sold its Alphabet stake and increased its Microsoft (MSFT) position to $2.3 billion, making it the largest AI holding. Microsoft reported Q4 revenue of $90 billion, net income of $35.76 billion, and positive free cash flow. Pershing cited Microsoft's software suite, Azure growth, and AI investments as reasons for its bullish stance.

Pershing Square Capital Management disclosed a $1.12B stake in Visa (5.4% of portfolio) and new positions in Mastercard and S&P Global, totaling $3B. Visa reported Q3 2026 revenue of $11.6B (+14% YoY) and EPS up 11%. The company is expanding into AI-driven commerce and stablecoin infrastructure.

Bill Ackman's Pershing Square raised $5B for a new fund, PSUSA, investing 95% of it. Ackman exited Alphabet, Universal Music Group, and Hertz, adding Visa, Mastercard, Netflix, S&P Global, Intercontinental Exchange, and Alcon. He also plans a private investment fund, Pershing Square Ventures, to gain insights into tech and private companies.

William A. Ackman, an insider of Pershing Square (PS), gifted 10 million shares to The Ackman Oxman Institute, a charity he and his spouse oversee. The shares were transferred for no consideration and are subject to the same lock-up restrictions as Ackman's initial public offering agreement. Ackman retains indirect holdings through various entities and disclaims beneficial ownership of the gifted shares.

Netflix (NFLX) shares rose after Bill Ackman's Pershing Square disclosed a 3.15 million-share stake, representing 4.9% of its portfolio. Pershing Square cited Netflix's dominant position in streaming and discounted valuation. Netflix's Q2 revenue grew 13.4% YoY to $12.56 billion, with a 33.4% operating margin. The stock has a Buy consensus rating with an average price target of $91.62.

Bill Ackman has significantly altered Pershing Square's (PSH) portfolio, with seven new purchases and four sales this year, an unusual level of turnover. Analysts are divided on whether these changes will improve performance or reduce the fund's distinctiveness.

Pershing Square Holdings, Ltd. (LN:PSH, LN:PSHD) disclosed a purchase of its public shares by Julian Ide for his SIPP, as required by UK market abuse regulations. The company is a closed-ended investment holding fund.

Pershing Square Capital Management, led by Bill Ackman, sold Alphabet shares in Q4 2025 and said it did so to free cash for a new Microsoft position, while keeping Amazon as its fourth-largest holding at about 10% of assets. Pershing Square’s mid-year update expects Amazon earnings growth above 20% annually, citing AWS revenue growth of 37% and Q2 operating income up 43% to $27 billion.

Pershing Square Holdings, managed by Bill Ackman, initiated new positions in Netflix and five other stocks in Q2 after a sell-off. According to Pershing’s interim report, Netflix shares were bought after a 50% drop from June 2025 highs and a valuation de-rating. Other buys were Visa, Mastercard, S&P Global, Intercontinental Exchange, and Alcon, amid AI-disruption concerns.