Bill Ackman Just Bought 6 New Stocks

Joseph Carlson After Hours•Aug 13, 2026

Summary

Joseph analyzes the Q2 report from Bill Ackman’s Pershing Square, noting a significant overlap between Ackman's new positions and Joseph's existing portfolio. Joseph argues that the market has unfairly punished high-quality companies due to temporary narratives, such as engagement concerns at Netflix or AI disruption fears at S&P Global. Joseph emphasizes that 90% of S&P 500 companies contributed less than 2% of the year-to-date returns, suggesting a massive opportunity in "left behind" quality stocks.

Joseph structures the analysis around several key holdings:

Netflix (NFLX): Joseph argues that Netflix is the dominant winner of the streaming wars and that engagement concerns are misunderstood due to geographic mix shifts. Joseph highlights that Bill Ackman recently re-entered the stock at approximately $74 per share, a move Joseph supports given the company's 20% annual earnings compound growth potential. Joseph maintains that Netflix is one of the most predictable businesses in the market despite past volatility.

S&P Global (SPGI): Joseph discusses how S&P Global saw a 25% price drop because of fears that AI tools like Claude would disrupt its financial data business. Joseph points out that the specific segment under threat represents less than 7% of total revenue, while the core benchmark business remains a high-quality monopoly. Joseph notes the stock reached a bargain valuation of 19 times earnings and remains attractive at current levels.

Mastercard (MA): Joseph describes Mastercard as a dominant global network and dismisses fears that stablecoins will disrupt the business. Joseph argues that stablecoins and AI agents will actually increase transaction volumes by removing friction in global commerce. Joseph currently holds a massive position with significant gains and agrees with Ackman’s decision to buy both Mastercard and Visa during recent dips.

Uber (UBER): Joseph addresses the fear surrounding Autonomous Vehicles (AVs), stating that Uber's scale and hybrid human-AV model provide it with a massive competitive advantage. Joseph notes that Uber is trading at a historically low valuation of 19 times earnings while growing earnings at a 35% rate. Joseph believes the market's concern over Whimo is overstated compared to Uber's fundamental strength.

Meta (META): Joseph views Meta as a primary beneficiary of AI, which is improving ad targeting and user engagement through better recommendations. Joseph states that whenever Meta trades at a forward PE ratio in the teens, it represents an exceptional buying opportunity. Joseph continues to hold the stock, viewing it as one of the best current options in the market.

Summary

Mentioned Stocks