Bill Ackman Just Disclosed 6 New Positions, and 4 of Them Are Financial Stocks. Here's What He's Betting On.
The famous long-term investor and his team made notable changes to Pershing Square's equity portfolio.
Overview
Star investor Bill Ackman of Pershing Square Capital Management (NYSE:PS) is well known for being highly selective with his company’s investments. Pershing’s equity portfolio is always considerably smaller than those of many peer investment managers. So Ackman and his team make news whenever they buy into, or sell out of, a single stock.
Headlines were made, then, when Pershing Square revealed, concurrently with its second-quarter earnings report, that it had taken positions in six new stocks. Four of those half-dozen were top names in the financial industry. Here’s the reasoning behind the move, and a glance at the quartet.
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Originally published at www.fool.com.