Ackman Doubles Down on Stocks Amid Concentrated Market

Billionaire investor Bill Ackman has been busy putting billions of dollars to work after completing one of the biggest milestones in the history of Pershing Square.

In its second-quarter update, Pershing Square highlighted the $5 billion initial public offering of PSUS, the New York Stock Exchange listing of Pershing Square USA, Ltd. (PSUS), and the deployment of the new fund's capital.

Ackman said in a shareholder letter that it was 'a highly productive few months since our IPO,' with more than 95% of PSUS's capital deployed across 14 investments.

These include six new positions: Visa (V), Mastercard (MA), Intercontinental Exchange (ICE), Netflix (NFLX), Alcon (ALC), and S&P Global (SPGI).