Coronavirus Had Ackman Consider Liquidating Portfolio [Yahoo! Finance News]
Starbucks Corporation (SBUX)
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Source: Yahoo! Finance News
) -- Activist investor Bill Ackman was so concerned about the potential impact of the coronavirus that he considered liquidating his hedge fund’s entire portfolio for the first time.Instead, the billionaire opted for another strategy: a lucrative credit hedge that earned his firm about $2.6 billion in profits when the market plummeted.Ackman said in a letter to investors in the fund, Pershing Square Capital Management, Monday that he used the proceeds from the credit bet to substantially boost investments in several portfolio companies. That included increasing his stake in Warren Buffett’s Berkshire Hathaway Inc. by 39%, and reinvesting in Starbucks Corp. in a new position valued at roughly $730 million.“We were sufficiently concerned about the health and economic implications of the coronavirus that we considered, for the first time ever, liquidating the portfolio in its entirety because we believed it was likely that markets would decline materially,” Ackman said in the letter. “Af
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SBUX
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- 10/29/25 - Miss
SBUX
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- 11/20/25 - Form 4
- 11/20/25 - Form 4
- 11/20/25 - Form 4
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