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.