Warren Buffett's Berkshire Hathaway loses Bill Ackman as an investor
Warren Buffett's Berkshire Hathaway has lost Bill Ackman as an investor.
The hedge fund manager revealed the sale of his Pershing Square fund's $1 billion Berkshire stake in a conference call on Wednesday. The move is surprising as Ackman boosted his Berkshire holdings by more than a third in the first quarter.Warren Buffett's Berkshire Hathaway has lost billionaire hedge-fund manager Bill Ackman as an investor.
Ackman revealed the exit from Berkshire, as well as much smaller positions in Blackstone and Park Hotels & Resorts, in a conference call on Wednesday. Berkshire accounted for just over 15% of its $6.6 billion stock portfolio at the end of March. Ackman's Pershing Square fund confirmed the sale to Business Insider. Bloomberg first reported the news.
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