Billionaire Bill Ackman Sold This Stock-Split Stock Hand Over Fist in Q2. Should You Sell It, Too?

Billionaire Bill Ackman may or may not like to eat out. But he certainly seems to like investing in companies that profit from others eating out. His Pershing Square Capital Management hedge fund only owns nine stocks -- and two are in the restaurant industry.Of these two restaurant stocks, Ackman has a bigger position in Chipotle Mexican Grill (NYSE: CMG), which conducted a massive 50-for-1 stock split after the market closed on June 25. However, he isn't as heavily invested in Chipotle now as he was earlier this year. Ackman sold this stock-split stock hand over fist in the second quarter of 2024. The billionaire slashed Pershing Square's stake in Chipotle by 22.5% in Q2. Even after selling 8.38 million shares, though, Chipotle is the second-largest holding in his hedge fund's portfolio.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool