V 全部观点

The next stock I'm going to highlight is Visa. And this is an interesting situation because I've only calculated an upside of about 4% for Visa as I calculated a fair value of $396 and the current market price is $381.

But Visa is one of the few Hall of Fame businesses in the world where I would feel like I'm getting a good deal even if I could buy Visa stock at a fair price. But to be able to buy it at a 4% discount, I think is gravy. It's icing on the cake.

Pershing Square opened four brand new positions this quarter: Netflix, Visa, Mastercard, and S&P Global.

And what's notable is that each one landed pretty much at 5% of the Pershing Square portfolio. So, this definitely reads as a bit of a rotation into, you know, a cluster of dominant businesses as opposed to Ackman having one big swing this quarter like sometimes he does.

We'll start with uh MasterCard. Now, MasterCard and Visa both popped today, really, really nicely. Uh 3.2% here, 3.3% here. Uh apparently, um Trump uh there was a financial disclosure. It's a typical thing. Nobody's doing anything wrong. Um that his investment accounts bought millions of dollars of both of these stocks, but this is clear back in June. So, it was finally, "Hey, nice trade, dude." By the way, hope you got them around 500 cuz they're about 600 now.