InvestorLens

About Bill Ackman

# Bill Ackman / Pershing Square Capital Management

Bill Ackman manages Pershing Square Capital Management, a multi-strategy investment firm overseeing $19.5 billion in disclosed equity holdings as of the Q2 2026 filing. The portfolio comprises 14 positions, reflecting a concentrated but diversified approach across multiple sectors and market capitalizations.

The Q2 2026 filing reveals substantial exposure to large-cap technology and consumer discretionary equities. Uber Technologies represents the largest holding at 12.7% of portfolio value, followed closely by Brookfield Corp at 12.6% and Microsoft at 11.9%. Amazon and Howard Hughes Holdings complete the top five, representing 10.5% and 10.2% respectively. These five positions anchor 57.9% of total portfolio value. Consumer discretionary stocks dominate sector allocation at 32.8% of the portfolio, reflecting concentration in cyclical equities alongside core technology positions.

Quarter-over-quarter activity during Q2 2026 demonstrates active portfolio management, with six new positions established and two exited entirely. The investor increased position sizing in five holdings and reduced exposure in three others, consistent with tactical rebalancing within the existing portfolio framework. This activity pattern reflects neither material expansion nor contraction of overall portfolio scope, with adjustments concentrated on existing core positions and selective new entries.

All data sourced from SEC 13F filings.

Frequently asked questions

What stocks does Bill Ackman own?
As of the Q2 2026 13F filing, Bill Ackman disclosed 14 positions. The largest holdings include UBER (12.7%), BN (12.6%), MSFT (11.9%).
What is Bill Ackman's largest holding?
UBER (UBER TECHNOLOGIES INC), representing 12.7% of the disclosed portfolio.
What sectors is Bill Ackman exposed to?
The portfolio's largest sector exposures are Consumer Discretionary (32.8%), Unclassified (24.4%), Financial Services (16.8%). 5 sectors are represented in total.
How concentrated is Bill Ackman's portfolio?
The top 5 holdings represent 57.9% of total portfolio value.
When did Bill Ackman last file a 13F?
Bill Ackman filed the most recent Form 13F-HR for the period ending 2026-06-30, dated Aug 14, 2026.
What changed in Bill Ackman's portfolio last quarter?
Quarter-over-quarter changes: 6 new positions, 2 exits, 5 increased, 3 reduced.
BA

Bill Ackman

Pershing Square · Activist / concentrated

Sign in to save13F data may be delayed up to 45 days
Latest filingQ2 2026· filed Aug 14, 2026· report period Jun 30, 2026
View on SEC EDGAR ↗
For educational research only.InvestorLens analyzes public regulatory filings (SEC EDGAR, STOCK Act PTRs) that may be delayed by 45 days or more. Information shown is historical and is not financial, legal, or tax advice, nor a recommendation or solicitation to buy or sell any security. Always do your own research.
Portfolio Value
$19.5B
Holdings
14
Turnover (LTM)
63%
Persistence (QoQ)
77%
First 13F
Q3 2023
View Full Profile

Investor Fingerprint

i

Bill Ackman

v1 · 4-axis
58Concentration10Sizing63Turnover77Persistence
LowHigh

Descriptive snapshot computed from this investor's most recent public 13F filing dated 2026-06-30. Educational research, not investment advice.

  • Concentration: 58 (High)
  • Sizing: 10 (Low)
  • Turnover: 63 (High)
  • Persistence: 77 (Very High)

Portfolio DNA

Categorical breakdown from this investor's 13F. Hover any row for the formula.

  • Concentrated
    High
  • Even Weights
    Moderate
  • Sector Tilt
    Above Avg.
  • High Turnover
    Very High
  • Persistent Thesis
    Very High
  • Tech-Heavy
    High

Six descriptive labels derived from public 13F data. Additional axes (Value, Quality, Growth, Dividends) require fundamentals data and ship in v2.

58%
Concentration
Top 5 Holdings · 58%
Concentrated
Investor Style
Balanced Strategy

Mixed signals across concentration, turnover, and persistence.

Fingerprint SummaryAI-generated · educational research only

The portfolio is characterized by moderate concentration with the top five holdings representing 57.9% of assets, while the 14-position structure and low Herfindahl index (9.7) indicate relatively balanced position sizing across the portfolio. Sector exposure is broadly distributed with a 23-point tilt score, and 77% position persistence demonstrates substantial quarter-over-quarter stability despite 62.8% annual turnover. Technology and AI-related holdings comprise 36.4% of the portfolio, reflecting meaningful but non-dominant exposure to that sector.

AI-generated analysis. This summary is produced by an automated language model from public regulatory filings. It may contain errors, omissions, or outdated information, and is provided for educational research only — not as financial, legal, or tax advice, a recommendation, or a solicitation to buy or sell any security.

Compare Bill Ackman's fingerprint with peers →

Investor Macro Outlook™

i

Portfolio-positioning signal · 2026-Q2 · based on public filings

ConfidenceModerate (59%)
Inflationi
Bearish
Dollari
Strong
GDPi
Expanding
Employmenti
Strong
Ratesi
Higher-for-longer
Energyi
Bearish
Technologyi
Bullish
Fixed Incomei
Minimal
Growth vs Valuei
Growth tilt
← Pure ValuePure Growth →

Bill Ackman's portfolio positioning shows meaningful technology and AI/digital infrastructure exposure. with minimal allocation to inflation-sensitive sectors. The overall sector mix is pro-cyclical, with heavier weight in economically sensitive industries. The portfolio shows a growth-oriented tilt (implied growth score: 99/100). Positioning details include rate-sensitive assets underweighted relative to banks and cyclicals.

Macro Trend — last 4 quarters

2025-Q32025-Q42026-Q12026-Q2
Inflation
Bearish
Bearish→
Bearish→
Bearish→
GDP
Expanding
Expanding→
Expanding→
Expanding→
Rates
Neutral
Neutral→
Neutral→
Higher↑
Energy
Bearish
Bearish→
Bearish→
Bearish→
Technology
Low
Low→
Bullish↑
Bullish↓
Growth / Value
Growth
Growth→
Growth→
Growth→

This analysis is inferred from public filing data and portfolio positioning. It is for informational purposes only and is not financial advice. Scores represent implied macro views based on sector weights and quarter-over-quarter changes in public 13F disclosures — not predictions, buy/sell signals, or guaranteed forecasts.

Investor Inflation & Dollar Outlook™

Portfolio-positioning signal · based on public 13F filings · not investment advice

ConfidenceModerate (67%)

Inflation

40/100

Neutral Inflation Bias
← FallingNeutralRising →

U.S. Dollar

30/100

Strong Dollar Bias
← StrongNeutralWeak →

Portfolio allocation across inflation-sensitive and defensive assets does not show a strong directional tilt, suggesting a broadly balanced implied inflation view based on observable holdings. Dollar-sensitive positioning — including exposure to short-duration domestic assets and limited international/commodity allocation — reflects a relative dollar-strength signal from observable holdings. This analysis is based on public 13F filing data and observable portfolio positioning only. It is for informational purposes only and should not be considered investment advice.

This analysis is based on public filings and portfolio positioning. It is for informational purposes only and should not be considered investment advice. Scores represent implied views inferred from observable 13F sector weights and quarter-over-quarter changes only — not predictions or guaranteed forecasts.

Portfolio Analytics™

Based on latest 13F
94
/100
Concentration Score™
Highly Concentrated
Top 5 → 58%
Top 10 → 94%
Largest Position
UBER
UBER TECHNOLOGIES INC
12.7%of portfolio
$2.5B market value
Conviction Holdings
Positions > 5% of portfolio
10
  • UBER12.7%
  • BN12.6%
  • MSFT11.9%
  • AMZN10.5%
  • HHH10.2%
  • +5 more

Top 10 Holdings

#Stock% PortfolioCumulative
1
UBER
UBER TECHNOLOGIES INC
12.7%12.7%
2
BN
BROOKFIELD CORP
12.6%25.3%
3
MSFT
MICROSOFT CORP
11.9%37.2%
4
AMZN
AMAZON COM INC
10.5%47.7%
5
HHH
HOWARD HUGHES HOLDINGS INC
10.2%57.9%
6
QSR
RESTAURANT BRANDS INTL INC
9.6%67.5%
7
META
META PLATFORMS INC
9.3%76.8%
8
V
VISA INC
5.8%82.5%
9
MA
MASTERCARD INCORPORATED
5.6%88.2%
10
SPGI
S&P GLOBAL INC
5.4%93.6%

Sector Allocation

Sectors5
  • Consumer Discretionary32.8%
  • Unclassified24.4%
  • Financial Services16.8%
  • Communication Services14.0%
  • Information Technology11.9%
Consumer Discretionary32.8%
Unclassified24.4%
Financial Services16.8%
Communication Services14.0%
Information Technology11.9%

Portfolio Risk Profile™

Elevated
Structure of disclosed 13F positions — not a prediction of returns
56/100

45% concentration · 35% sector · 20% turnover

Concentration

Elevated
75/100
  • ·Top position UBER is 12.7% of the portfolio
  • ·Top 10 holdings account for 93.6% of value
  • ·14 total positions (HHI 0.097)

Sector exposure

Low
34/100
  • ·Consumer Discretionary is the largest classified sector at 43.4% of classified value
  • ·Exposure spans 4 sectors (sector HHI 0.30)
  • ·Next largest: Financial Services at 22.3%
  • ·24.5% of value is unclassified and excluded from this score

Turnover

Moderate
52/100
  • ·20.8% of portfolio value rotated quarter-over-quarter
  • ·6 new positions, 2 full exits

Largest sector weights

Consumer Discretionary 32.8%Unclassified 24.4%Financial Services 16.8%Communication Services 14%Information Technology 11.9%
AI risk read

The portfolio is concentrated in 14 positions with the top 10 holdings representing 93.6% of disclosed equity value, including a 12.7% allocation to UBER. Consumer Discretionary comprises 43.4% of the portfolio across four sectors, creating sector clustering alongside the position concentration. Quarterly turnover of 20.8% reflects moderate portfolio rotation with six new positions and two exits during the period.

Derived solely from Bill Ackman's public 13F filings, which disclose long US equity positions only — shorts, options hedges, cash, and non-US holdings are not included. Educational research only, not financial advice.

About

Founder and CEO of Pershing Square Capital Management. Activist investor known for concentrated positions.

AI filing intelligenceEducational research only — not financial advice

Pershing Square increased exposure to UBER by $322 million and added significant new positions in payment processors VISA and MASTERCARD alongside S&P GLOBAL and NETFLIX, suggesting a rotation toward financial services and consumer-focused technology. The fund trimmed its largest tech holdings, reducing AMAZON by $344 million (25.2%) while modestly increasing MICROSOFT and META, and also pared back BROOKFIELD while substantially expanding HOWARD HUGHES HOLDINGS by nearly $799 million (47.7%). The portfolio shifts reflect a rebalancing away from mega-cap cloud and e-commerce exposure toward diversified financial infrastructure, media, and real estate development plays. Because 13F filings are delayed by up to 45 days, this should not be treated as real-time investment advice. Always do your own research.

AI-generated analysis. This summary is produced by an automated language model from public regulatory filings. It may contain errors, omissions, or outdated information, and is provided for educational research only — not as financial, legal, or tax advice, a recommendation, or a solicitation to buy or sell any security.

Top 10 holdings

  • UBERUBER TECHNOLOGIES INC
    $2.5B12.7%
  • BNBROOKFIELD CORP
    $2.4B12.6%
  • MSFTMICROSOFT CORP
    $2.3B11.9%
  • AMZNAMAZON COM INC
    $2B10.5%
  • HHHHOWARD HUGHES HOLDINGS INC
    $2B10.2%
  • QSRRESTAURANT BRANDS INTL INC
    $1.9B9.6%
  • METAMETA PLATFORMS INC
    $1.8B9.3%
  • VVISA INC
    $1.1B5.8%
  • MAMASTERCARD INCORPORATED
    $1.1B5.6%
  • SPGIS&P GLOBAL INC
    $1.1B5.4%

Sector exposure

Sectors5
  • Consumer Discretionary32.8%
  • Unclassified24.4%
  • Financial Services16.8%
  • Communication Services14.0%
  • Information Technology11.9%

New positions

6
  • MAMASTERCARD INCORPORATED
    New
  • NFLXNETFLIX INC.
    New
  • PSUSPERSHING SQUARE USA LTD
    New
  • SEGSEAPORT ENTMT GROUP INC
    New
  • SPGIS&P GLOBAL INC
    New
  • VVISA INC
    New
Why this matters
Why a new position matters

Opening a new position can suggest the manager sees value or a thesis worth committing capital to. It does not necessarily mean they are bullish on the broader market — concentrated managers add positions infrequently while quants may rotate constantly.

Educational research only. Not financial advice.

Increased

5
  • HHHHOWARD HUGHES HOLDINGS INC
    Increased
  • METAMETA PLATFORMS INC
    Increased
  • MSFTMICROSOFT CORP
    Increased
  • QSRRESTAURANT BRANDS INTL INC
    Increased
  • UBERUBER TECHNOLOGIES INC
    Increased
Why this matters
Why an increase matters

Adding to an existing position may indicate higher conviction, scaling into a thesis, or rebalancing toward a target weight. It does not necessarily mean the position is undervalued at the current price.

Educational research only. Not financial advice.

Reduced

3
  • AMZNAMAZON COM INC
    Reduced
  • BNBROOKFIELD CORP
    Reduced
  • HTZHERTZ GLOBAL HLDGS INC
    Reduced
Why this matters
Why a reduction matters

Trimming a position may suggest portfolio rebalancing, profit-taking, or risk management. It does not necessarily mean the manager has turned bearish on the underlying company.

Educational research only. Not financial advice.

Sold out

2
  • Ticker unavailableCUSIP 812215200SEAPORT ENTMT GROUP INC
    Sold
  • GOOGLALPHABET INC
    Sold
Why this matters
Why a full exit matters

Fully exiting a position can suggest that the manager's thesis has played out, was wrong, or that capital is being redeployed elsewhere. It does not mean the company is broken — exits are often as much about portfolio fit as about the security itself.

Educational research only. Not financial advice.

Current holdings

Reported portfolio value: $19.5B

Reported values come from public SEC filings and may be delayed up to 45 days. Not investment advice.

Sourced from SEC EDGAR public filings

  • UBERIncreased
    UBER TECHNOLOGIES INC
    Position value
    $2.5B
    Portfolio %
    12.72%
    Delta Shares
    14.58%
  • BNReduced
    BROOKFIELD CORP
    Position value
    $2.4B
    Portfolio %
    12.58%
    Delta Shares
    -3.71%
  • MSFTIncreased
    MICROSOFT CORP
    Position value
    $2.3B
    Portfolio %
    11.89%
    Delta Shares
    9.77%
  • AMZNReduced
    AMAZON COM INC
    Position value
    $2B
    Portfolio %
    10.49%
    Delta Shares
    -25.22%
  • HHHIncreased
    HOWARD HUGHES HOLDINGS INC
    Position value
    $2B
    Portfolio %
    10.23%
    Delta Shares
    47.74%
  • QSRIncreased
    RESTAURANT BRANDS INTL INC
    Position value
    $1.9B
    Portfolio %
    9.62%
    Delta Shares
    14.02%
  • METAIncreased
    META PLATFORMS INC
    Position value
    $1.8B
    Portfolio %
    9.25%
    Delta Shares
    20.11%
  • VNew
    VISA INC
    Position value
    $1.1B
    Portfolio %
    5.76%
    Delta Shares
    —
  • MANew
    MASTERCARD INCORPORATED
    Position value
    $1.1B
    Portfolio %
    5.61%
    Delta Shares
    —
  • SPGINew
    S&P GLOBAL INC
    Position value
    $1.1B
    Portfolio %
    5.43%
    Delta Shares
    —
  • NFLXNew
    NETFLIX INC.
    Position value
    $934M
    Portfolio %
    4.80%
    Delta Shares
    —
  • PSUSNew
    PERSHING SQUARE USA LTD
    Position value
    $149.5M
    Portfolio %
    0.77%
    Delta Shares
    —
  • SEGNew
    SEAPORT ENTMT GROUP INC
    Position value
    $133.6M
    Portfolio %
    0.69%
    Delta Shares
    —
  • HTZReduced
    HERTZ GLOBAL HLDGS INC
    Position value
    $34M
    Portfolio %
    0.17%
    Delta Shares
    -1.64%
  • Ticker unavailableCUSIP 812215200Sold
    SEAPORT ENTMT GROUP INC
    Position value
    $0
    Portfolio %
    0.00%
    Delta Shares
    -100.00%
  • GOOGLSold
    ALPHABET INC
    Position value
    $0
    Portfolio %
    0.00%
    Delta Shares
    -100.00%

Sector breakdown

  • Consumer Discretionary32.8%
  • Unclassified24.4%
  • Financial Services16.8%
  • Communication Services14.0%
  • Information Technology11.9%

Filing history