Bill Ackman’s 3Q18 Letter: Starbucks, Hilton, Fannie/Freddie

YTD 11/13/18, NAV increased by 9.7% compared to S&P 500’s 3.5% Starbucks Corporation (SBUX) Purchased at an average price of $51/share Built the world’s most valuable specialty coffee brand by first creating the category in the US and then expanding globally Brand is synonymous with premium products and a high-end experience for both customers and […]

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