These Prominent Billionaires Just Invested $700 Million in 2 Dow Jones Dividend Stocks
Bill Ackman of Pershing Square Holdings and Andreas Halvorsen of Viking Global Investors are two highly regarded billionaire-level investment managers. In the second quarter, their companies added new positions in two stocks that just happen to be members of the prestigious Dow Jones Industrial Average, an index that tracks 30 blue chip stocks.
Ackman's firm reported a position worth $229 million in Nike (NYSE: NKE), while Viking Global disclosed a $478 million investment in McDonald's (NYSE: MCD). Let's explore why these billionaires like these stocks even as both are navigating headwinds in the apparel and restaurant industries right now.
Ackman has a knack for spotting value where others don't. Over the last 20 years, Pershing Square delivered annualized returns of 16%, and his net worth has grown to $9 billion in recent years, according to Forbes.
Source Fool.com
