Ackman unveils six new investments including Netflix, Visa, Mastercard in biggest portfolio overhaul in years

Bill Ackman, the billionaire investor, has made significant changes to his investment portfolio in what he claims is his biggest overhaul in years. Ackman, whose stock picks are closely monitored by professional investors and his 2.7 million followers on social media, added six new holdings to his portfolio, including Netflix, Visa, Mastercard, Alcon, Intercontinental Exchange, and S&P Global.

Ackman, who sold Netflix shares at a loss in 2022, believes the companies' earnings are poised for strong growth, viewing this as the key driver of investment value over time. This year, Ackman added Microsoft to the portfolio after its stock price dropped following an earnings report, anticipating a rebound as investors recognized the software giant's investments in artificial intelligence. Microsoft has since rebounded, in part due to gains from its latest earnings report.

The new additions mark Ackman's biggest portfolio change in years, as his funds typically own no more than a dozen companies. However, Ackman's funds have faced challenges recently, with Pershing Square USA down 3.5% for the year and London-listed Pershing Square Holdings down 9.2%, compared to a 13% gain for the S&P 500.

In addition to the six new investments, Ackman's portfolio also includes Uber Technologies, Meta Platforms, Amazon.com, Fannie Mae, Freddie Mac, among others. Ackman is expected to discuss the new investments on an analyst call later on Thursday, with the new names likely appearing in 13-F filings, required by the Securities and Exchange Commission for fund managers with ownership stakes in U.S. companies.