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Ackman Adds Netflix, Visa, Mastercard to Pershing Square USA

8/14/2026

32 5 Full Breakdown

Summary

Story summary

Bill Ackman added Netflix, Visa and Mastercard to Pershing Square USA on Thursday.
The Q2 purchases sit in Pershing Square USA, which listed on the NYSE in April.
Ackman said strong earnings growth will drive long-term value, noting his 2022 Netflix bet lost about $400 million.
After disclosure, Netflix rose 3.4% while Pershing Square USA was down 3.5% YTD versus a 10% S&P 500 gain.

History

Historical Context

In December 2012 Bill Ackman announced Pershing Square’s $1 billion short against Herbalife, labeling the MLM a pyramid scheme. The campaign sparked an FTC probe, a rival stake by Carl Icahn in January 2013, and a costly exit in early 2018. Today Ackman’s Pershing Square USA holds Netflix, Visa and Mastercard, echoing the high-profile activist play that reshaped his fund’s strategy.

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Story summary

Bill Ackman added Netflix, Visa and Mastercard to Pershing Square USA on Thursday.
The Q2 purchases sit in Pershing Square USA, which listed on the NYSE in April.
Ackman said strong earnings growth will drive long-term value, noting his 2022 Netflix bet lost about $400 million.
After disclosure, Netflix rose 3.4% while Pershing Square USA was down 3.5% YTD versus a 10% S&P 500 gain.

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