Billionaire Bill Ackman Slashed His Stake in This Artificial Intelligence (AI) Stock in Q2. Should You Sell It, Too?

Some investors build highly diversified portfolios. But not billionaire Bill Ackman. His Pershing Square Capital Management hedge fund owns positions in only nine stocks.Two of those stocks share the same underlying business. Pershing Square owns Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) Class A and Class C shares, which trade under separate tickers. But Ackman slashed his stake in the artificial intelligence (AI) leader in the second quarter of 2024. Should you sell Alphabet stock, too?Ackman sold over 368,000 of Pershing Square's Alphabet Class A shares in Q2, reducing the hedge fund's stake by nearly 8.5%. He sold 1.83 million shares of the Class C shares, cutting Pershing Square's position by over 19.5%. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool