Bill Ackman Sold Alphabet to Buy an AI Stock Down Roughly 20% From Its High. Was That the Right Call?

Published October 1, 2026 · Category: Finance

Overview

Hedge fund managers are making big moves to capitalize on the artificial intelligence (AI)-driven stock market gyrations. Billionaire Bill Ackman made some in his portfolio last quarter, completely selling out of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) for his investment fund, Pershing Square. Given the timing of the buys and sells, it is likely that Pershing Square reaped multibagger returns from its investment in Alphabet.

What did Ackman buy with his Google proceeds? He turned to another AI technology giant: Microsoft (NASDAQ: MSFT). It had been a laggard in the first half of 2026 and was down about 20% from its Q2 highs when Pershing Square topped off its position.

Bill Ackman. Image source: Getty Images.

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Originally published at www.fool.com.

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