Ackman's Pershing Square Reloads Portfolio with Netflix Re-entry and Six New Stocks

Pershing Square, led by investor Bill Ackman, has overhauled its portfolio by investing in six new stocks and revisiting an old favorite. The firm has taken a significant position in Netflix (NFLX), which Ackman had previously abandoned after losing $400 million on the stock in 2022.

Ackman's team at Pershing Square now holds 3.15 million Netflix shares, representing 4.9% of the portfolio as of June 30. This marks a major turnaround for the company, which Ackman believes has 'effectively won the streaming wars.'

Pershing Square also initiated new positions in Visa (V), Mastercard (MA), S&P Global (SPGI), Intercontinental Exchange (ICE), and Alcon (ALC). The firm expects these companies to deliver substantial earnings growth, which it views as a key driver of long-term investment value.

The Netflix re-entry is not the only notable move for Pershing Square. Ackman also initiated a position in Microsoft (MSFT) earlier this year after the company's Q4 results fell short of market expectations and the stock declined.