Pershing Square Boosts Amazon, Alphabet Holdings by 20.8% in Q2

In the second quarter, a prominent hedge fund, Pershing Square Capital Management, made significant adjustments to its portfolio. The fund initiated a position in Amazon, acquiring 5.8 million shares. This move was first hinted at during an investor event in May, where the fund highlighted Amazon's dual business model and its attractive valuation. Additionally, the fund increased its holdings in Alphabet Inc., the parent company of Google, by 20.8%, bringing the total to 5.4 million Class A shares. This strategic shift indicates a strong confidence in the tech giants' growth potential and market leadership.

The hedge fund also made notable exits and additions to its portfolio. It completely divested from Canadian Pacific Kansas City, a railway operator. Concurrently, the fund incrementally increased its stakes in Hertz Global, a leading car rental company, Hilton Worldwide, a major hotel chain, and Brookfield, a Canadian investment company. These moves suggest a focus on sectors that have shown resilience and growth potential in the current economic climate.

The fund's decision to build a position in Amazon and increase its holdings in Alphabet reflects a broader trend among institutional investors who are bullish on the technology sector. The tech giants have demonstrated strong financial performance and continue to innovate, making them attractive investment opportunities. The fund's strategic adjustments also indicate a shift towards companies with robust business models and growth prospects, aligning with its long-term investment philosophy.