Ackman Unveils Big Portfolio Shake-Up with Netflix and Visa Additions

Billionaire investor Bill Ackman has unveiled six new holdings in his portfolio, marking his biggest overhaul in years. The additions include Netflix, Visa, Mastercard, eye care firm Alcon, exchange operator Intercontinental Exchange, and financial data provider S&P Global.

Ackman acquired shares of these companies starting in the second quarter, which will be held in his investment funds, including his newest offering Pershing Square USA. He believes that the firms' earnings are poised for strong growth, which he views as the greatest driver of investment value over time.

Shares of the firms were mostly higher on Thursday morning, with Netflix rising 3.3% and S&P Global adding 1.1%. Pershing Square USA shares were up 1.7% following the investment disclosures and second-quarter earnings released on Wednesday evening.