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Bill Ackman exits Alphabet, UMG and Hertz from Pershing Square
Pershing Square also added six new public holdings and bought more than 13 million shares of Netflix worth over $934 million.
Bill Ackman’s Pershing Square Capital Management has reshaped its portfolio in 2026, including fully exiting Alphabet, Universal Music Group, and Hertz Global, according to analysis cited by LiveMint Markets. The outlet said Ackman raised $5 billion for Pershing Square USA last quarter, launched in April, with the fund aiming to match portfolios with Pershing Square Holdings, and that 95% of the capital had already been invested.
LiveMint Markets reported that Pershing Square added six companies, including Alcon, Intercontinental Exchange, Netflix, Mastercard, S&P Global, and Visa. The article notes that the large-cap additions have faced negative returns in the first half, Netflix faces concerns about overgrowth, and Alcon has consistent revenue growth.
The report also highlighted Netflix buying activity, saying Pershing Square bought more than 13 million shares worth over $934 million, which is about 5% of the portfolio. LiveMint Markets added that Pershing Square plans to seed a new private markets vehicle, Pershing Square Ventures, which is expected to launch later in 2026 to give shareholders exposure to late-stage private companies before IPOs.
LiveMint Markets further cited performance figures, stating that since 2004 Pershing Square has delivered a cumulative return of 2,530% and a compound annual return of 15.6%, compared with about 964% and 11% for the S&P 500.
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