- Bill Ackman added six new stocks to Pershing Square — including Netflix, Visa & Mastercard, S&P Global, Intercontinental Exchange and Alcon — while keeping big positions in Microsoft, Amazon, Meta and others.
- He says AI-driven gains created a "highly attractive environment" to put money to work and is hunting for simple, predictable, free-cash-flow businesses with strong competitive positions.
- Highlights: payments (Visa/MA) as capital-light "toll-takers," Netflix as the dominant streamer, and S&P/ICE as potential AI beneficiaries — plus Alcon for aging-population demand.
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