Billionaire Bill Ackman Has 10.5% of His $19.5 Billion Portfolio in Amazon. What's the Thesis Behind Pershing Square's Bet?
The high-profile investor believes the company is crushing it in two key areas of its business.
Overview
Pershing Square (NYSE: PS), the company headed by high-profile investor Bill Ackman, has emerged as one of the largest corporate bulls on Amazon (NASDAQ: AMZN). Despite recently trimming its stake in the monster retailer as part of a portfolio reallocation, Pershing still holds nearly 8.6 million shares of the company.
According to Pershing's latest 13F filing detailing its equity portfolio, it held more than 8.56 million shares of Amazon as of the end of June. In dollar terms, this amounted to over $2 billion, and 10.5% of that portfolio. Since both numbers are considerable, it's worth looking into Ackman's rationale for being long on Amazon.
Bill Ackman. Image source: Getty Images.
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Originally published at www.fool.com.