Billionaire Bill Ackman Dumps Alphabet and Loads Up On a Mega-Cap Stock Down 15% From Its Peak

Bill Ackman's Pershing Square Capital Management sold its Alphabet stake in Q2 and increased its Meta Platforms position by 20%. Meta has rallied 19% since Q2 ended, outperforming Alphabet, driven by enthusiasm over Meta's successful AI product launch Muse. Despite Meta's recent gains, it remains cheaper than Alphabet on valuation metrics, presenting potential investment opportunities in both stocks.