Ackman Overhauls Portfolio with Six New Holdings, Netflix Among the Bets

Bill Ackman disclosed six new investments for Pershing Square funds, including Netflix, Visa, Mastercard, Alcon, Intercontinental Exchange, and S&P Global, marking his biggest portfolio overhaul in years as he bets earnings growth will drive value. The moves will be held in his funds, including the newly listed Pershing Square USA, with 13F filings expected to reveal the changes; the shift comes amid a period of mixed performance for his vehicles but underscores his ongoing strategy of selective, high-conviction bets.