Bill Ackman unveils 6 new investments including Netflix, Visa, Mastercard in major portfolio overhaul

Bill Ackman unveiled six new holdings, including Netflix, Visa and Mastercard, marking the billionaire investor’s biggest portfolio overhaul in years.Ackman said Thursday he acquired shares starting in the second quarter that will be held in his investment funds, including his newest offering Pershing Square USA, which was listed on the New York Stock Exchange in April.Along with Netflix, which Ackman held briefly in 2022 before selling at a loss, his funds are also investing in eye care firm Alcon, exchange operator Intercontinental Exchange and financial data provider S&P Global.Ackman said he believes the firms’ earnings are poised for strong growth, which he views as the greatest driver of investment value over time.Shares of the firms were mostly higher on Thursday on a broad up day for US stocks.Netflix rose 3.3%, S&P Global added 1.1% and others were mostly modestly higher.

Pershing Square USA shares were up 1.7% following the investment disclosures and second-quarter earnings released on Wednesday evening.Ackman, whose stock picks are closely tracked by professional investors and his 2.7 million followers on social media platform X, added Microsoft to the portfolio this year after its stock price dropped following an earnings report, arguing that the software company would rebound when investors acknowledged its investments in AI.Microsoft has since bounced back, thanks in part to outsize gains following its latest earnings report.The new additions mark the biggest overhaul in years for Ackman’s portfolio, which traditionally owns no more than a dozen companies.Ackman’s funds have performed strongly over the long haul but have faced challenges recently. 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 10% gain for the S&P 500  total return index, which includes dividends.In addition to Microsoft, Ackman’s portfolio includes Uber Te...