May 16 (Reuters) - Billionaire investor Bill Ackman said

on Saturday that the sale of Google parent Alphabet's

shares was not a bet against the company.

Ackman on Friday said his firm Pershing Square had built a

new position in tech giant Microsoft ( MSFT ) after its stock

price dropped recently, and sold his long-owned investment in

Alphabet to help pay for it.

"To be clear, our sale of Google was not a bet against the

company. We are very bullish long term on Alphabet. But at

current valuations and in light of our finite capital base, we

used as a source of funds for Microsoft ( MSFT )," Ackman wrote on X on

Saturday.