Bill Ackman says owning businesses that have power

Bill Ackman says owning businesses that have power

Bill Ackman, an hedge fund manager and CEO of Pershing Square Capital Management, said that the key to success in a highly-interest-rate environment is owning businesses that have pricing power.

It's hard to manage a business where inflation is volatile at 8%, he said, but many, many businesses can do very well in a world of 3% inflation.

The biggest share of Bill Ackman's portfolio - 18.86% - is Chipotle Mexican Grill Inc., valued at $2.04B. Pershing Square Capital owns 953,610 shares.

In the first quarter of 2023, Ackman bought around 8.1M shares of Alphabet Inc. Class C shares and 2.2M shares of its Class A shares, and secured a stake worth nearly $1.1B by the end of March.

Despite this, he expects Google to become a dominant player in AI for the very, very long term.