Wednesday, July 17, 2024
HomeFinanceBill Ackman's Pershing Square reveals new Alphabet stake of 10.3 million shares

Bill Ackman’s Pershing Square reveals new Alphabet stake of 10.3 million shares


Pershing Square Capital Management LP acquired a new position in Alphabet Inc. during the first quarter, new disclosures showed Monday.

Bill Ackman’s entity scooped up nearly 10.3 million shares of the Google parent company in the latest quarter, according to a 13-F filing with the Securities and Exchange Commission put out after the close of Monday’s trading. The position is made up of roughly 8.1 million shares of Alphabet’s Class C stock
GOOG,
-0.81%

and 2.2 million shares of its Class A stock
GOOGL,
-0.85%
.

Don’t miss: Alphabet’s stock catches a rare downgrade, with analyst citing AI threat to Google

Pershing also cut its positions in Chipotle Mexican Grill Inc.
CMG,
+0.07%
,
Hilton Worldwide Holdings Inc.
HLT,
+1.19%

and Lowes Co. Inc.
LOW,
-0.84%
.
It owned 1.03 million shares of Chipotle as of the end of the first quarter, down from 1.11 million as of the end of the fourth quarter. The Hilton position fell to 9.3 million shares from 10.0 million shares, while the Lowes position declined to 10.0 million shares from 10.4 million.

See also: Chipotle plans to pause price hikes and lean into menu ‘hidden gems,’ as new stores and cheaper avocados boost earnings

Ackman narrowly bumped up his position in Howard Hughes Corp.
HHC,
-0.54%

to about 16.0 million shares from 15.9 million shares, while keeping his position of 24.2 million Restaurant Brands Inc. shares
QSR,
+0.25%

unchanged.

Read: Warren Buffett’s Berkshire Hathaway switched stakes in two banks, and the stocks head in opposite directions

Also from MarketWatch: David Tepper’s Appaloosa reveals new Tesla, Nvidia, FedEx positions



This story originally appeared on Marketwatch

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