버크셔는 1분기 구글 지분을 3배로 늘린 반면, 빌 애크먼은 장기적으로 구글에 매우 낙관적임에도 불구하고 95%를 매도하고 마이크로소프트를 매수한 이유는? 🤔

Should Ackman’s market moves even be in the same breath as Berkshires?

Berkshire buys with the intention to hold long term. That doesn’t always happen, but that’s how they pick stocks.

Ackman buys whatever he thinks will make money, he isn’t a multi-decade buy and hold investor. GOOG is up 140% in the last year while MSFT is down 7%. Perhaps he thinks this is a good short term move.

He thinks MSFT has more upside potential than GOOG. How does this deserve a post?

Because If you exclude the profit on Spacex and Anthropic. Google is trading at a 40x forward PE while Microsoft is trading at a near 20 forward PE.

You take the absolute worst moment to have sold Google as an example while excluding the fact that he could have also sold in February when Google was at 345. You’re just cherry picking data to match your narrative.

I didn’t touch Microsoft one year ago due to its valuation. I bought heavily into Google. Now it’s exactly the opposite.

Ackman is a hack. If I was a name caller with a cult following like the President, he’d already be widely known as “Hackman”

He wants the dividend next week

Saying msft is a value trap is hilarious

These are all major changes reported yesterday from major institutional fund managers;

* **Delta Air Lines (DAL):** Berkshire Hathaway made a massive return to airlines, dropping **$2.65B** to build a 39.8M share stake in Delta—reversing Buffett's 2020 pandemic exit.
* **Alphabet (GOOGL):** Berkshire aggressively tripled its stake in Google's parent company, adding **36.4M shares** to make it their 7th largest holding ($15.6B total). Bill Ackman aggressively gutted his existing Google position, cutting it down to just over 311k shares.
* **Microsoft (MSFT):** Bill Ackman’s Pershing Square bought the dip after MSFT's early-year pullback, establishing a massive new **5.65M share** flagship position.
* **Amazon (AMZN) & Entertainment:** Berkshire completely exited its legacy positions in **Amazon** and trimmed down its consumer stakes to consolidate firepower.
* **Visa (V), Mastercard (MA), & UnitedHealth (UNH):** Berkshire liquidated its entire stake in these financial and healthcare giants, reducing its total stock count from 42 down to 29.
* **Chevron (CVX):** Berkshire took massive profits on energy, dumping roughly **$8 billion** worth of Chevron shares after it hit all-time highs in March.

Yes it's true, I have used AI to make this list.

Before Buffet left his office, he stuck a sticky note on the chair that said: “*Long GOOGL you fool*”.

He also paper handed Netflix at a huge loss right before it ripped

Because people do what they do, dont overthink it

not sure i’d call a 95% exit panic just because GOOG ripped after. if my own 7% GOOGL slot needed to fund something with better risk/reward i’d still judge it on thesis/valuation, not the next 6 weeks of price action.

He’s an idiot - never forget

I bought MSFT during the Financial Crisis. It's up 1600%. Let's not act like MSFT is dome sort of dog here.

Ackman runs a very concentrated portfolio, so him trimming a recent winner to add to one with value makes sense.

Both are great companies.

the missing context here is the relative position size. ackmans pershing square runs like 10 positions on around 11b aum so a 14% goog slot dropping to a 12% msft slot is basically normal rebalancing at his concentration. its a portfolio decision not a directional bet against alphabet.

berkshires "tripled" is also misleading framing. they dca'd through q1 which means they were buying through the 200-280 range across the entire quarter. nobody made one big call at the bottom. theyre averaging in at probably mid 200s vs goog now at 393.

the valuation gap is actually interesting. goog forward pe on fy26 is around 27 and msft is around 32 if you back out their net cash. so ackman swapped from the cheaper one to the more expensive one which is the opposite of what value investors usually do. the call he must be making is on azure growth trajectory eating into aws share, plus relative msft having reset more than goog did during the q1 selloff.

calling a 95% trim a panic move only makes sense if you think the next 6 weeks are the relevant window. if youre running a concentrated 10 position book and you see better risk reward in something thats already down 20%, doing the swap inside one quarter is just how that book works.

22B is still tiny comparing to how much cash they have

I can see Bill Ackman's logic. If you look [this fundamentals of GOOGL vs. MSFT table](https://www.stock-table.com/fundamentals?public_uuid=bd32db83-e45f-49c0-aa00-58137d5067c8), at this point in time, MSFT's P/E, Foward P/E, PEG, and EV/FCF, are all better than GOOGL's. That's not to say Alphabet is not going to be a great company long-term, it simply means MSFT is a better bargain right now. I'm long on both GOOGL and MSFT, but i would also rather load up on MSFT than GOOGL right now. Both companies are well-positioned to do great with AI infrastructure and applications.