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Bill Ackman

Pershing Square Capital Management

Activist investor

🌐 Website📍 New York, NYEst. 2004💰 ~$18B AUM

$13.71B

Portfolio Value

11

Holdings

Q1 '26

Period

2026-05-15

Filed

About Bill Ackman

William Albert Ackman (born 1966) is an American investor and hedge fund manager. He is the founder and CEO of Pershing Square Capital Management, an activist hedge fund. Known for taking large, concentrated positions and actively engaging with company management to unlock value.

Investment Philosophy

Concentrated activist investing in high-quality, large-cap businesses with predictable cash flows. Takes 8-12 positions typically, with the goal of influencing corporate strategy. Seeks simple, predictable, free-cash-flow-generative businesses with dominant market positions and high barriers to entry.

Notable Facts

  • •Famous short of Herbalife led to public battle with Carl Icahn
  • •Made $2.6B profit on a $27M hedge during COVID-19 crash in 2020
  • •Took Pershing Square Holdings public on Euronext Amsterdam
  • •Major positions have included Chipotle, Restaurant Brands International, and Universal Music Group
📈

Simulated 13F Return

⚠️ Approximation

Total Return

+15.54%

Q4 '24 → Q3 '25

Annualized

+21.32%/yr

S&P: +18.77%/yr

Alpha (vs S&P)

+1.82%

3 quarters tracked

1-Year Return

—

⚠️ Approximation only. 13F filings are delayed ~45 days. Options, shorts, and intra-quarter trades not captured.

📈 Recent Activity

Changes from previous quarter

BNREDUCED
17.6% of portfolio
-3% shares-0.5pp
AMZNREDUCED
17.4% of portfolio
+19% shares+3.1pp
UBERREDUCED
15.7% of portfolio
-1% shares-0.2pp
MSFTNEW
15.3% of portfolio
New position
QSRREDUCED
12.2% of portfolio
-1% shares+2.2pp
METAREDUCED
11.1% of portfolio
-0% shares-0.3pp
GOOGREDUCED
0.7% of portfolio
-95% shares-11.8pp
GOOGLREDUCED
0.1% of portfolio
-95% shares-1.3pp
HLTSOLD
was 5.6%
Sold out position
Filing price: $287.25

Sold Out (1)

SOLDHLTHILTON WORLDWIDE HLDGS INCwas 5.60%@$287.25

📊 Sector Breakdown

Portfolio allocation by sector

Technology 60.2%Unknown 39.8%

💼 Holdings

🔍

11 of 11 positions · $13.71B

This quarter: 1 new position, reduced 7, sold 1. Net seller.

BNREDUCED
17.6%
17.6% of portfolio (was 18.1%, trimmed)
Filed ~$40
—📄
AMZNREDUCED
17.4%
17.4% of portfolio (was 14.3%, trimmed)
Filed ~$208
—📄
UBERREDUCED
15.7%
15.7% of portfolio (was 15.9%, trimmed)
Filed ~$72
—📄
MSFTNEW
15.3%
15.3% of portfolio (new position)
Filed ~$370
—📄
QSRREDUCED
12.2%
12.2% of portfolio (was 10.0%, trimmed)
Filed ~$74
—📄
METAREDUCED
11.1%
11.1% of portfolio (was 11.4%, trimmed)
Filed ~$572
—📄
HHH
8.7%
8.7% of portfolio
Filed ~$63
—📄
SEG
0.8%
0.8% of portfolio
Filed ~$21
—📄
GOOGREDUCED
0.7%
0.7% of portfolio (was 12.5%, trimmed)
Filed ~$287
—📄
HTZ
0.5%
0.5% of portfolio
Filed ~$5
—📄
GOOGLREDUCED
0.1%
0.1% of portfolio (was 1.4%, trimmed)
Filed ~$288
—📄

🚫 Sold Out (1 positions)

SOLDHLTHILTON WORLDWIDE HLDGS INCwas 5.60%@$287.253028664 shares · $870.0M