Pershing Square disclosed new stakes in late June 2026, including about 3.27 million Visa shares worth roughly $1.12 billion (about 5.4% of the portfolio) and roughly 2.12 million Mastercard shares around $1.09 billion (about 5.3%), making these two payments giants among the hedge fund’s larger holdings.

Together with S&P Global, Visa and Mastercard represent over $3 billion of Pershing Square’s new exposure in the quarter, signaling a deliberate tilt toward payments ecosystems and financial data players.

In addition to Visa, Pershing Square initiated positions in Mastercard and added exposure to S&P Global, collectively committing over $3 billion to payments networks and data providers.

Ackman appears to be betting that these companies’ strategic moves in streaming monetization, advertising growth, and AI-enabled efficiency could unlock value despite recent declines.

Overall, the overhaul signals a shift toward opportunistic capital deployment, leveraging a balance-sheet-backed private-investment angle and rebalance toward higher-conviction opportunities in AI-adjacent and diversified sectors.

The fund fully exited three positions—Alphabet, Universal Music Group, and Hertz Global—with Alphabet sold to free capital for Microsoft amid perceived AI-driven growth and higher value opportunities.

Executions cited: Alphabet exited to reallocate to Microsoft; Universal Music Group exited following a failed US HQ move; Hertz exited due to limited turnaround impact.

Motley Fool notes the firm fully exited these three names, aligning with Ackman’s broader strategy of concentrated, long-term bets elsewhere.

The coverage places Ackman’s moves in the context of Motley Fool’s Stock Advisor recommendations, highlighting a broader investment landscape rather than praising specific picks.

The article emphasizes Ackman’s strategic shifts and capital deployment across public stocks, private investments, and new fund structures rather than endorsements.

The new stakes underscore a strategic focus on payments ecosystems—low-capital, high-fee revenue with upside from inflation and the shift to electronic payments.

Pershing Square’s entry occurred amid market volatility, as AI-related and large-cap names underperformed, creating what it views as attractive entry points.