HomeMarket NewsBill Ackman's Pershing Square raises stake in Alphabet in Q3, trims position...

Bill Ackman's Pershing Square raises stake in Alphabet in Q3, trims position in Lowe's

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# Bill Ackman’s Pershing Square Amplifies Investment in Alphabet and Adjusts Position in Lowe’s

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Billionaire investor Bill Ackman’s Pershing Square Capital Management has made strategic moves in the third quarter of 2023, as revealed in its latest 13F filing. The renowned hedge fund has significantly increased its stake in Google-parent Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) while making adjustments in its position with home improvement retailer Lowe’s Companies (LOW).

Pershing Square’s holdings in Alphabet showcase a noteworthy surge, with its class A capital stock reaching 4.35 million shares, notably up from 2.19 million shares in the previous quarter. Additionally, the fund maintained its robust position with 9.38 million shares of Alphabet’s class C capital stock in Q3, consistent with its Q2 holdings.

Conversely, Pershing Square has tactically decreased its stake in Lowe’s by 5.4%, amounting to 7.07 million shares in Q3 as opposed to 7.47 million shares in Q2.

The 13F filing also highlighted other notable maneuvers by the fund, including a 10.4% augmentation in its position with hotel giant Hilton Worldwide (HLT), now holding 10.31 million shares from the previous 9.33 million. Furthermore, Pershing Square adjusted its investment in real estate developer Howard Hughes (HHH) by 1.4%, now possessing 16.81 million shares compared to the previous 16.57 million.

Bill Ackman, recognized for his activist wins on companies such as Canadian Pacific, Fortune Brands, and Allergan, currently boasts a real-time net worth of $3.7 billion according to Forbes.

### Deciphering 13F Filings

In the world of finance, 13F filings serve as crucial insights into the investment activities of institutional investors, shedding light on their portfolio adjustments and strategic endeavors.

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