Bill Ackman, a man who could buy a small country and still have enough left over for lunch, has done it again. His hedge fund, Pershing Square Capital, quietly slipped out the back door of Canadian Pacific, leaving behind a $1.039 billion trail of railway dust. That’s 8.7% of the firm’s holdings—gone faster than you can say “all aboard.”
He didn’t want to do it, he says. “With regret,” Ackman parted ways with Canadian Pacific, a stock he’d wooed back in 2022 like an old flame. He still believes in its future—just not enough to keep his money there when Amazon’s siren song is calling.
Why the switch? Simple: Amazon. The online retail behemoth, where you can buy anything from a book to a backyard chicken coop, is now the apple of Ackman’s eye. He’s betting that even if Amazon Web Services hits a speed bump or tariffs try to rain on the retail parade, the company will keep chugging along. Ryan Israel, Pershing Square’s chief investment officer, put it plainly: “We did not judge that tariffs would have a material impact on the earnings in the retail business.” Translation: Amazon laughs in the face of tariffs.
Ackman and his crew are also sweet on Hertz and Uber, because apparently, nothing says “diversification” like cars you don’t own and rides you don’t drive. Meanwhile, Amazon’s stock ended Friday at $200.99, down more than 1%—which, for Ackman, probably just means he gets to buy more on sale. 🚂💸📦
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2025-05-24 19:01