Bill Ackman Cuts Alphabet Stake As Warren Buffett's Berkshire Hathaway Builds Its Own

Core Insights - Pershing Square Capital Management, led by Bill Ackman, made several small adjustments to its portfolio in the third quarter, with no new positions taken [1][2]. New and Exited Positions - The fund did not acquire any new stakes in companies during the third quarter [2]. - The fund reduced its stake in Alphabet Class A shares by 10%, bringing the total to 4,843,973 shares [4]. - Small portions of holdings in three other companies were sold, each representing less than 1% of the respective stakes [4]. Changes to Positions - No increases in stakes were made in any positions during the third quarter [5]. - The reduction in Alphabet Class A shares coincided with a new position taken by Warren Buffett and Berkshire Hathaway in the same shares [4]. Top Holdings - As of the end of the third quarter, the top holdings in the fund included: - Uber Technologies: 20% - Brookfield: 19% - Howard Hughes Holdings: 11% - Alphabet Class C: 11% - Restaurant Brands: 10% - Amazon.com: 8.7% - Alphabet Class A: 8.0% - Chipotle Mexican Grill: 5.8% - Hilton Worldwide Holdings: 5.4% - Seaport Entertainment Group: 0.8% [9].