Bill Ackman Just Made His Biggest Portfolio Overhaul in Years, Adding Netflix, Visa, and Mastercard to Pershing Square. What's the Thesis Behind the Switch?
This very concentrated portfolio has a bunch of new holdings -- including some investor favorites.
Overview
Bill Ackman is the Founder and CEO of the Pershing Square Capital Management hedge fund company. Many investors follow his moves, because he's pretty good at investing. Per Pershing Square, the fund's cumulative net gains since its inception in January 2004 are 2,644% as of the end of 2025 -- amounting to an average annual gain of around 16%.
That's pretty good, considering that the overall stock market averaged only about 11% over that same period, and its long-term average annual gain is around 10%. It's enough to have made Ackman a billionaire, recently worth $8.9 billion, perForbes.
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Source
Originally published at www.fool.com.