Alphabet out, Netflix in: Bill Ackman exits major stocks, reworks Pershing Square's portfolio - Here's what has changed

Billionaire Bill Ackman made major changes to his Pershing Square portfolio this year. He fully exited Alphabet, Universal Music Group, and Hertz. Meanwhile, he added six new companies, including Netflix, Visa, and Mastercard. Ackman bought over 13 million shares in Netflix, which now accounts for around 5% of his portfolio.