Key facts
- Bill Ackman has added Netflix, Visa, and Mastercard to his investment portfolio.
- The portfolio overhaul includes six new holdings acquired starting in the second quarter.
- Other new investments include Alcon, Intercontinental Exchange, and S&P Global.
- Ackman believes these companies are positioned for strong earnings growth.
- Pershing Square USA has seen a 3.5% decline year-to-date through July.
- Pershing Square Holdings is down 9.2% year-to-date through July, underperforming the S&P 500's 13% gain.
Billionaire investor Bill Ackman has significantly reshaped his investment portfolio, announcing six new holdings including major technology and financial firms like Netflix, Visa, and Mastercard. This marks the most substantial overhaul of his holdings in several years. Ackman began acquiring these shares in the second quarter, with the new positions set to be housed in funds such as his recently listed Pershing Square USA.
Alongside the prominent tech and payment companies, Ackman's funds are also investing in eye care firm Alcon, exchange operator Intercontinental Exchange, and financial data provider S&P Global. Ackman stated his conviction that these companies are poised for robust earnings growth, which he identifies as the primary driver of long-term investment value.
This strategic shift comes at a time when Ackman's funds have faced recent challenges. Through July, Pershing Square USA was down 3.5% for the year, and the London-listed Pershing Square Holdings had declined 9.2%. This performance lags behind the S&P 500's 13% gain over the same period. Earlier this year, Ackman added Microsoft to his portfolio, a move that has since proven successful following the software giant's rebound.
The new additions are expected to be formally disclosed in 13-F filings with the Securities and Exchange Commission, which are closely watched by investors for insights into institutional trends. Ackman, known for his value investing approach and cordial interactions with management, is anticipated to discuss these investments further on an analyst call.