Chip Somodevilla / Getty 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. Pershing sold Berkshire in the last few weeks to free up cash so it can capitalize if prices fall again, Ackman said on the call. The move is surprising as Ackman boosted his Berkshire holdings by more than a third in the first quarter. Visit Business Insider's homepage for more stories. Warren Buffett's Berkshire Hathaway has lost billionaire hedge-fund manager Bill Ackman as an investor. Ackman revealed the sale of his Pershing Square fund's $1 billion stake in Berkshire, and its exit from much smaller positions in Blackstone and Park Hotels & Resorts, in a conference call on Wednesday.
Warren Buffett's Berkshire Hathaway Loses Bill Ackman As An Investor
tmohamed@businessinsider.com (Theron Mohamed), Business Insider
Wed, 05/27/2020 - 12:15pm
Topics: chip somodevilla getty visit business insider blackstone park hotels resorts march business insidernow watch tax day july uber eats etsy citi berkshire warren buffett's berkshire hathaway ackman bill ackman pershing square pershing berkshire ackman call billion lost revealed manager hedge-fund fund stake pandemic investment wednesday conference sale
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