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Bill Ackman just invested about $4 billion in five new stocks in just one quarter. And in the same report, he sold the last of his Alphabet shares. These are the very stocks that Warren Buffett's company is buying up for billions, and Katie Wood is gradually reducing. So, three of the world's most famous investors look at the same company and come to three different conclusions.
In this video, I'll break down Ekman's five biggest moves from his latest report: what each company does, the financials, and the real risks. Stay until the end to learn about the fifth company, because this is a business that Ekman doesn't just own. He runs it, and it just acquired an insurance business for $2.1 billion.
With that in mind, let's get started. The number one stock is Visa, ticker V. Ekman's Pershing Square opened a new position worth about $1.12 billion , or about 3.3 million shares. Visa does not lend money or issue bank cards. It runs a network that transfers money every time you swipe or swipe your card, and takes a small fee for each payment.
Revenue grew 14% to $11.6 billion in the latest quarter . The company processed 71.7 billion payments, and for the first time, the total amount passing through the network exceeded $4 trillion in a quarter. The side business, specializing in fraud and data protection, grew by 34% and now accounts for almost a third of sales.
At the same time, Ekman purchased Mastercard shares worth about $1.09 billion. The risk lies in the cost. At the time of the news, Visa was trading around $370, near its highs. So, a significant part of the positive expectations is already reflected in the price. And if people cut back on spending, fewer payments will mean less profit for Visa.
Now, the next stock is one that Ekman had already lost money on, and he came back to try again. Stock number two is Netflix, ticker NFLX. It is trading around $80 after a 10-for-1 stock split. Pershing Square acquired it for around $934 million. Ekman first bought Netflix in 2022, sold it at a loss, and stayed away for 4 years.
This time, he returned after the stock fell about 36% from its peak. The latest figures are quite solid. Revenue was $12.6 billion, up 13%, with an operating margin of 33.4%. Netflix expects advertising revenue to roughly double this year, to $3 billion. In addition, the company spent a record $4.7 billion on share buybacks last quarter.
A share buyback means that a company uses cash to reduce the number of shares outstanding, making each remaining share more valuable. The risk is a slowdown in growth. Over 6 months, revenue growth fell from approximately 17% to 13%. And last quarter's free cash flow decreased by almost a third. Stocks also fell after the latest forecast.
If you enjoyed this breakdown, please like and subscribe. This helps the channel a lot and means you won't miss the next video. Stock number three is S&P Global, ticker SPGI, trading around $420 at the end of July. Ackman opened a stake of around $1.06 billion. S&P Global is a credit rating company.
These are ratings that tell investors how sound a company's debt is. It also manages the S&P 500 index and sells financial data. In the June quarter, revenue rose 11% to $4.15 billion, and adjusted earnings per share jumped 23%. The ratings business grew by 17%, and the index business posted its 13th consecutive record quarter.
This year, the company also plans to buy back more than $7 billion in its own shares. It has a very high margin, over 54%, which is rare. Now about the risk. Earnings per share were lower than analysts expected. And that day, the stock fell about 4%. Ratings depend on whether companies issue debt. So, if lending slows down, this business slows down too .
The next stock is the one Ackman spent more money on than any other, and it has barely changed price since he told everyone about his stake. Stock number four is Uber, ticker UBER. It's Pershing Square's largest position, about 13% of the entire portfolio, and Ackman added another $322 million last quarter.
He first disclosed his stake in February last year, and the stock has barely budged since. Business, however, continues to grow. Total bookings, meaning the money customers spend on travel, food and freight, reached $58 billion, up 22%, the fourth consecutive quarter of growth above 20%. The number of trips increased by 18% to 3.9 billion.
Earnings per share increased by 35%, and free cash flow exceeded $10 billion for the first time in the last 12 months . Uber also agreed to acquire DeliveryHero, which will take it into nearly 100 new markets, and plans to launch self-driving cars in 15 cities by the end of the year. The risk is that driverless cars require huge costs, including a plan worth about $10 billion , and no one yet knows who will make money from them .
Stock number five is quite strange: Howard Hughes Holdings, ticker HHH. Ackman is the executive chairman, and his firm owns about 47% of the company. Howard Hughes started out as a developer, building entire cities in places like Texas. Last year, Pershing Square acquired $900 million in shares of the company at a price of $100 per share.
Then, on June 4, the company completed its $2.1 billion purchase of Vantage, a company that sells specialty insurance. Pershing Square invested another $1 billion to help pay for this deal. The idea is simple. Insurance companies collect payments in advance and invest that money for years, and Ackman's team now manages it.
The company earned $158 million in the June quarter, compared to a loss last year. Land profits rose 32%, while Vantage insurance sales rose 29%. Now about the risk. Vantage's combined ratio is about 102%, meaning the company paid out slightly more in claims and expenses than it received in premiums.
And almost everything here depends on whether one person —Akman—is right. So, here is the picture. Ackman bought the "toll points" of the payment world, a streaming giant, a ratings agency, a travel and delivery giant, and a real estate- turned-insurer. He only holds 14 stocks, so every choice matters.
Before making a decision, keep a few things in mind. This report shows what he owned as of June 30, so he could have changed everything since then. He also lost money on Netflix once before. Being famous doesn't mean being right every time. And now I would like to hear from you. Which of these five companies would you investigate first and who do you trust: Alphabet, Buffett, Katie Wood, or Ackman?
Write in the comments. And if this video was helpful, please like, subscribe, and turn on notifications so you don't miss the next one. This video is made for educational and entertainment purposes only. None of this is financial advice. I am not a licensed financial advisor. Stocks carry risks and you can lose money.
Always consult a qualified financial professional before investing. Past performance does not guarantee future returns.
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