Billionaire investor Bill Ackman has made a major shakeup to his portfolio. His hedge fund, Pershing Square Capital, sold off a significant chunk of its holdings – $1.039 billion worth of Canadian Pacific Railway stock.
Goodbye Trains, Hello Amazon
This move, which represented 8.7% of Pershing Square’s assets, wasn’t a sign of losing faith in the railway company. Ackman stated he sold with “regret,” but believes strongly in Canadian Pacific’s long-term prospects. The sale freed up capital for a much bigger investment.
All In on Amazon
The big winner? Amazon. Ackman and his team are betting big on the online retail giant, confident that CEO Andy Jassy can navigate current challenges and deliver strong future growth and profit margins. They’re particularly optimistic about Amazon’s ability to overcome any slowdown in its cloud computing division (AWS) and weather the impact of tariffs.
Other Investments
Besides Amazon, Pershing Square also added to its positions in Hertz and Uber.
Amazon’s Current State
Amazon stock closed slightly down on Friday, ending the day at $200.99.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before making any investment decisions.
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