Billionaire Bill Ackman Pours $1,039,000,000 Into Single Asset in Major Portfolio Shift: Report

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Billionaire Bill Ackman’s hedge fund, Pershing Square Capital, has reportedly exited a position that previously accounted for 8.7% of the firm’s holdings. Pershing Square has sold $1.039 billion worth of shares in the railway company Canadian Pacific (CP.TO), reports Reuters. Ackman says he sold the Canadian Pacific position “with regret,” after rebuying the stock in 2022. He also says he has a “a very strong belief in the long-term future of the business.” But Ackman made the portfolio change t...