5 Best Long-Term Stocks to Buy According to Bill Ackman

4. Alphabet Inc. (NASDAQ:GOOGL)

Pershing Square’s Stake: $1.9 Billion

Alphabet Inc. (NASDAQ:GOOGL) has been a mainstay in the 13F portfolio of Pershing Square since the first quarter of 2023. Back then, this position comprised just over 8 million shares. In the second quarter of 2023, the fund added to this position, growing it by more than 16% to just under 10 million shares. The holding stayed relatively stable for a few quarters before the fund trimmed the stake, reducing it by close to 20% to 7.5 million shares in the second quarter of 2024. In the first quarter of 2025, this was reduced by another 16%, bringing share ownership down to around 6.3 million shares. Filings for the fourth quarter of 2025 show that the fund owned 6.1 million shares in the firm.

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Alphabet Inc. (NASDAQ:GOOGL) is grabbing headlines after investing heavily in AI chips to bypass reliance on NVIDIA. Earlier this month, Google Cloud unveiled TPU v8, split into training 8t and inference 8i chips. This custom silicon allows Google to run AI models at a significantly lower cost than competitors relying solely on third-party GPUs, a move BMO Capital recently called a structural margin advantage. The Cloud segment of the firm is also in the middle of blockbuster deals with Thinking Machines Lab and a potential $1 billion partnership with Merck. Analysts expect Google Cloud growth to exceed 50% year-over-year in Q1 2026, driven by the new Gemini Agent platform which allows enterprises to build autonomous AI workers.