FILE PHOTO: Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. REUTERS/Richard Brian
BOSTON (Reuters) – Billionaire investor William Ackman’s hedge fund Pershing Square Capital Management made a new bet on Warren Buffett’s Berkshire Hathaway Inc (BRKa.N), according to a regulatory filing made on Wednesday.
This marks the first time that Ackman’s $8 billion fund has announced a new position since late last year when it bought a stake in Starbucks Corp (SBUX.O).
The new bet will be a passive investment for Ackman’s $8 billion firm, a person familiar with the matter said.
Reporting by Svea Herbst-Bayliss; editing by Grant McCool