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Bill Ackman adds six stocks to Pershing Square portfolio

The new holdings started in the second quarter and include Netflix, Visa, Mastercard, Alcon, Intercontinental Exchange, and S&P Global, expanding the manager’s typical concentrated lineup.

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Bill Ackman has carried out his largest portfolio overhaul in years at Pershing Square, adding six companies to the firm’s holdings as it broadens exposure to businesses he expects to support earnings growth, according to Hedgeweek, citing a Reuters report.

The new positions include streaming company Netflix, payments firms Visa and Mastercard, eye-care provider Alcon, exchange operator Intercontinental Exchange, and financial information provider S&P Global. Ackman said the purchases began during the second quarter and will be held across his investment vehicles, including Pershing Square USA, which launched on the New York Stock Exchange in April.

Hedgeweek noted that Pershing Square’s strategy represents a notable expansion for a manager whose funds have typically concentrated in fewer than a dozen companies. Ackman pointed to earnings growth as a key long-term driver of investment value, and said he views the added holdings as having attractive prospects on that basis.

The changes also come as Pershing Square’s recent performance has lagged broader markets, with Pershing Square USA down 3.5% through July and London-listed Pershing Square Holdings down 9.2%, compared with about a 10% total return for the S&P 500 over the same period. The newly disclosed stocks are expected to appear in Pershing Square’s latest 13F filing.

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