Ackman's Big Bet: 6 New Stocks Added to Pershing Square USA Portfolio

Bill Ackman's Pershing Square USA has undergone its biggest portfolio overhaul in years. The billionaire investor added six new companies to his concentrated portfolio, including Netflix Inc. (NASDAQ:NFLX), Visa Inc. (NYSE:V), Mastercard Inc. (NYSE:MA), S&P Global Inc. (NYSE:SPGI), Intercontinental Exchange Inc. (NYSE:ICE) and Alcon AG (NYSE:ALC).

Ackman's new positions are seen as a bet on strong earnings growth ahead, particularly in the payments space. He sees Visa and Mastercard's capital-light business models, competitive positions, and ability to grow earnings over time as attractive.

The Vanguard Financials ETF (NYSE:VFH) offers an indirect way for investors to capture Ackman's thesis on these two payment networks. The fund holds 5% of Mastercard and 4.3% of Visa, making up around 9.3% of the $14 billion portfolio.

The Communication Services Select Sector SPDR ETF (NYSE:XLC) gives investors exposure to Netflix, although it's not a direct play on Ackman's thesis. The fund is dominated by Meta Platforms and Alphabet, meaning investors are buying into more than just Netflix.