Bill Ackman‘s Pershing Square has disclosed six new stock investments in its first quarterly shareholder letter as a publicly listed company.

None of the six is a music company.

The new positions in Visa, Mastercard, Netflix, S&P Global, Intercontinental Exchange, and Alcon were disclosed in a letter published on Wednesday (August 12).

Pershing Square Inc. listed on the New York Stock Exchange earlier this year.

Ackman‘s fund acquired approximately 10% of Universal Music Group from Vivendi in 2021 for around USD $4 billion, around the time of the company’s listing on Euronext Amsterdam.

“Owning a royalty on music with the best management team in the industry is a blissfully comfortable and profitable place to be.”

Bill Ackman on…