Billionaire hedge fund manager Bill Ackman has overhauled his Pershing Square Capital Management portfolio with six new equity stakes, the largest restructuring of his holdings in years.
According to a regulatory filing on Tuesday, Ackman’s fund acquired shares in Netflix, Visa, Mastercard, Hilton Worldwide, Lowe’s and a sixth undisclosed company. The positions were disclosed in a 13F filing with the U.S. Securities and Exchange Commission, which provides a quarterly snapshot of institutional investment portfolios.
The filing did not specify the size of the new positions or the timing of the purchases. Pershing Square’s previous 13F report, filed in May, showed a concentrated portfolio of just seven stocks, including Amazon, Alphabet and Howard Hughes Holdings. The latest filing reflects a broader diversification strategy, though the fund’s overall number of holdings remains limited.
Ackman, known for his activist investing approach and high-profile market calls, has historically maintained a relatively small number of concentrated bets. His recent investments suggest a renewed focus on consumer-facing businesses and financial services, sectors that have demonstrated resilience amid economic uncertainty.
The disclosure comes as Pershing Square navigates a challenging macroeconomic environment marked by elevated interest rates and volatile equity markets. Ackman has previously emphasized the importance of long-term value investing, even as short-term market conditions remain uncertain.
The fund’s latest moves will be closely watched by investors and analysts tracking Pershing Square’s strategy and performance in the coming quarters.
