Bill Ackman invested approximately $3.3 billion in Visa, Mastercard, and S&P Global in Q2 2026, marking his largest new equity bets of the year. Each position represents roughly $1.1 billion, accounting for 5.76% of the portfolio for Visa (3.27 million shares), 5.61% for Mastercard (2.12 million shares), and approximately $1.06 to $1.1 billion for S&P Global. These three companies control critical chokepoints in the global financial system, processing trillions of dollars in transactions or providing the data that underpins credit markets worldwide. Ackman characterized market volatility as an attractive entry opportunity, distinguishing these investments from the dominant artificial intelligence trade. These positions represent a meaningful rebalancing of Pershing Square’s portfolio, which remained exposed to leading tech names like Microsoft and Amazon.
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