Story perspectives

Pershing Square Takes Microsoft Stake, Sells Alphabet Holdings

5/17/2026

Summary

Ackman Buys Microsoft

Pershing Square Capital Management disclosed a new Microsoft stake in a 13F filing on May 16, 2026.
The fund built the position since February 2026 at about 21 times forward earnings, financed by exiting a $2.1 billion Alphabet holding.
Microsoft shares, down 15% YTD, rose 1%-3% to close at $421.92 after the filing.
Bill Ackman (billionaire investor) cited Azure’s 39%-40% growth, a $190 billion 2026 cap-ex plan, and a $200 billion OpenAI stake as catalysts.

Summary

Third Point Repositions

Third Point sold 925,000 Microsoft shares in Q1, ending a position held since late 2022.
Third Point bought 175,000 Alphabet shares in Q1 while Pershing Square exited its Alphabet stake in Q2.
Both Pershing Square and Third Point opened Meta Platforms positions in Q1, adding AI exposure.
Bill Ackman and Daniel Loeb have shifted to a stock-selection-focused style, reflecting a trend of selective investing in the Magnificent Seven AI giants.

History

Historical Context

The 1995 Netscape IPO, priced at $28 and soaring to $75 on its first day, helped launch the dot-com boom that drove the Nasdaq up about 400% by March 2000. Decades later, 2026 moves by Pershing Square and Third Point into the “Magnificent Seven” stocks such as Microsoft echo that earlier surge, prompting regulators to watch market concentration.

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Ackman Buys Microsoft

Pershing Square Capital Management disclosed a new Microsoft stake in a 13F filing on May 16, 2026.
The fund built the position since February 2026 at about 21 times forward earnings, financed by exiting a $2.1 billion Alphabet holding.
Microsoft shares, down 15% YTD, rose 1%-3% to close at $421.92 after the filing.
Bill Ackman (billionaire investor) cited Azure’s 39%-40% growth, a $190 billion 2026 cap-ex plan, and a $200 billion OpenAI stake as catalysts.

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