Bill Ackman Just Sold a 'Magnificent Seven' Stock. Here's What He Might Buy With All the Cash.
We recently got an updated look at the portfolios of many notable hedge funds, and there were a few moves from notable billionaire Bill Ackman's Pershing Square. These include a couple of large stock sales, as well as a couple of new positions.
One of the sales in particular stood out, as it has been one of the fund's best performers and is a member of the "Magnificent Seven." Here's a rundown of Pershing's latest moves, and what Ackman could be looking to do next.
Once a quarter, U.S. institutional investors who manage portfolios of $100 million or more must file SEC Form 13F, which provides a fresh look at their holdings. Studying the moves of top managers like Bill Ackman can be a great source of ideas for your own portfolio. It's especially noteworthy when they buy or sell a big-name stock -- like one of the Magnificent Seven, the giant innovators that have been driving the market higher in recent years.
Source Fool.com
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