Why Billionaire Bill Ackman Bought $514 Million of These 2 Stocks
Bill Ackman ranks among the most successful investors on the planet. Thanks to the tremendous success of his Pershing Square Capital Management hedge fund, Ackman's net worth currently totals close to $9 billion.
But the billionaire isn't a big fan of diversification. Pershing Square's portfolio includes only nine stocks. And two of them were added in the second quarter of 2024. Here's why Ackman bought $514 million worth of those two stocks in Q2.
Ackman increased his stake in one existing Pershing Square holding in Q2, buying another 381,000 shares of Restaurant Brands International. However, he also initiated new positions in Brookfield Corp. (NYSE: BN) and Nike (NYSE: NKE).
Source Fool.com
Square Inc. Stock
€57.53
-0.090%
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