Third Point Acquires 175,000 Alphabet Shares as Pershing Square Exits Stake
Daniel Loeb’s hedge fund Third Point acquired 175,000 Alphabet shares in the first quarter while Bill Ackman’s Pershing Square sold most of its position during the same period and fully exited by Q2, per SEC filings. Both firms also opened new stakes in Meta Platforms in early 2026.
1. Contrasting Tech Strategies
Bill Ackman’s Pershing Square and Daniel Loeb’s Third Point have taken opposite approaches to major tech names in early 2026, with Pershing Square reducing its Alphabet stake while Third Point increased exposure ahead of AI-driven growth trends.
2. Pershing Square’s Alphabet Exit
Pershing Square trimmed its Alphabet position through the first quarter and fully exited in Q2, shifting capital into Microsoft shares that Ackman judged undervalued given its Microsoft 365 suite and artificial intelligence investments.
3. Third Point’s Alphabet Acquisition
Third Point disclosed a purchase of 175,000 Alphabet shares in the first quarter, marking a strategic reentry into the search and advertising giant; the fund simultaneously liquidated 925,000 Microsoft shares to rebalance its tech portfolio.
4. Shared Pivot to Meta Platforms
Both Pershing Square and Third Point initiated new positions in Meta Platforms during Q1 2026, signaling a broader search for AI-driven growth opportunities beyond their technology legacy holdings.