Bill Ackman's Pershing Square Made Amazon Its Fourth-Largest Holding by Dumping Alphabet. Here's the Thesis Behind the Switch.
Bill Ackman's Pershing Square Capital Management started selling Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) in the fourth quarter of 2025 while continuing to hold a large stake in Amazon (NASDAQ: AMZN) and other tech stocks. Ackman also bought a new position in Microsoft. In a …