Billionaire Bill Ackman Just Sold 25% of His Stake in This Big Tech Giant for 2 AI Rivals
Ackman sold shares of Amazon and Alphabet while buying shares of Microsoft and Meta Platforms.
Overview
Bill Ackman is one of the world's most renowned investors. The billionaire hedge fund manager runs a very concentrated portfolio of fewer than 15 stocks, so when he makes moves, investors take notice. While he added new positions in credit card networks Visa and Mastercard, financial intelligence company S&P Global, and video streamer Netflix, those weren't his only notable moves.
During the quarter, he made some big moves with stocks of hyperscalers (owners of large data centers). Ackman finished selling off his remaining small Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) stake, while slashing his position in Amazon (NASDAQ: AMZN) by 25%. He also added to his positions in Microsoft (NASDAQ: MSFT) and Meta Platforms (NASDAQ: META).
Details
Let's take a closer look at these hyperscaler stocks to see if investors should follow suit.
Source
Originally published at www.fool.com.