Ackman adds Netflix, Visa and Mastercard in portfolio revamp

Investing.com -- Bill Ackman disclosed six new portfolio holdings on Thursday, including Netflix, Visa, and Mastercard, representing his largest portfolio restructuring in several years.

The billionaire investor said he began purchasing the shares during the second quarter for his investment funds, including Pershing Square USA, which started trading on the New York Stock Exchange in April.

The additions also include eye care company Alcon, exchange operator Intercontinental Exchange, and financial data provider S&P Global. Netflix previously appeared in Ackman's portfolio briefly in 2022 before he sold the position at a loss.

Ackman said he expects the companies' earnings to show strong growth, which he considers the primary driver of investment value over time.

The investor, who maintains 2.7 million followers on social media platform X, added Microsoft to his holdings earlier this year after the stock declined following an earnings report. He argued the software company would recover once investors recognized the value of its artificial intelligence investments. Microsoft has since recovered, supported by gains after its most recent earnings report.

The new positions represent the largest changes in years to Ackman's portfolio, which typically holds no more than a dozen companies.

Through July, Pershing Square USA was down 3.5% for the year and London-listed Pershing Square Holdings was down 9.2%, compared with a 13% gain for the S&P 500.

Ackman's current portfolio also includes Uber Technologies, Meta Platforms, Amazon.com, Fannie Mae, and Freddie Mac.

Ackman will discuss the investments on an analyst call later Thursday. The holdings are expected to appear in 13-F filings on Friday, which the Securities and Exchange Commission requires from fund managers with ownership stakes in U.S. companies at the end of each quarter.

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