Bill Ackman’s Pershing Square Capital Increases Bet on Alphabet and Reduces Stake in Lowe’s
Pershing Square Increases Investment in Alphabet
During the second quarter, Pershing Square Capital purchased approximately 1.3 million shares of Alphabet’s class C stock, bringing its position to $1.1 billion. The hedge fund’s existing stake in Alphabet’s A shares remained unchanged at $261 million.
Pershing Square Reduces Stake in Lowe’s
In contrast, Pershing Square decreased its position in Lowe’s by more than 25% during the second quarter, resulting in a total stake of $1.6 billion, down from about $2 billion.
Other Portfolio Changes
Pershing Square also downsized its holdings in Chipotle and Restaurant Brands International. Furthermore, its position in Canadian Pacific Railway dissolved due to a merger with Kansas City Southern. However, the hedge fund now holds a stake in the new company, known as Canadian Pacific Kansas City, worth $1.2 billion.
Overall Portfolio Value
At the end of the second quarter, Ackman’s fund managed approximately $10.8 billion in 13F securities, as reported by WhaleWisdom.com.
