Ackman Injects Fresh Capital, Overhauls Pershing Square's Portfolio

Pershing Square's portfolio has undergone significant changes as Bill Ackman injects fresh capital and exits positions.

Ackman raised $5 billion to launch Pershing Square USA, a closed-end fund that mirrors the portfolio of Pershing Square Holdings. The new fund has already invested 95% of its capital since launching in late April.

Ackman also received new capital from Howard Hughes' acquisition of Vantage Insurance, which brought over $1 billion in common equities to Pershing Square's balance sheet. Ackman expects the deal to contribute billions more to the equity portfolio over time.

Ackman exited positions in Alphabet, Universal Music Group, and Hertz Global last quarter, using proceeds from these sales to invest in new opportunities. He bought six new investments across various industries, including Visa, Mastercard, Netflix, S&P Global, Intercontinental Exchange, and Alcon.