Bill Ackman
Pershing Square Capital
Profile & Investment Philosophy
Bill Ackman, founder and CEO of Pershing Square Capital Management, is one of Wall Street's most prominent activist investors, combining deep fundamental analysis with aggressive public advocacy to unlock value in underperforming companies. His philosophy is rooted in identifying high-quality, "simple, predictable, and free-cash-flow-generative" businesses that are temporarily mismanaged or misunderstood by the market. Ackman's process involves intensive research to determine intrinsic value, often months before taking a position. He targets companies with strong brand recognition and defensible market positions, seeking to catalyze change through board representation or strategic pivots. His portfolio is deliberately concentrated, typically holding just 8–12 positions, allowing for deep conviction and active oversight. He has demonstrated an ability to generate extraordinary returns through both long activism (such as Canadian Pacific and Howard Hughes) and bearish macro hedges, including his famous pandemic hedge in March 2020 that returned $2.6 billion from an initial $27 million investment. Ackman is also known for public battles with management teams — he views transparency and accountability as essential to good governance. His recent focus includes a significant position in Alphabet and a continued bet on quality businesses. Pershing Square's public vehicle allows retail investors access to his strategy. Ackman's philosophy emphasizes that the highest-quality businesses, bought at the right moment, are the only truly margin-of-safety investments.
Current Portfolio
LATEST 13FLatest SEC Form 13F filing. Total portfolio value: $5.3B. Holdings: 22 positions.
| Ticker / Security | Shares | Δ vs Prev | Value | Portfolio % |
|---|---|---|---|---|
| QSR Restaurant Brands International | 8.08 | -2.09% | $550,000,000 | 10.44% |
| AMZN Amazon.com, Inc. | 2.12 | NEW | $490,000,000 | 9.28% |
| WTW Willis Towers Watson PLC | 1.36 | +24.66% | $450,000,000 | 8.45% |
| ELV Elevance Health, Inc. | 1.27 | -3.77% | $440,000,000 | 8.43% |
| UNP Union Pacific Corporation | 1.63 | +8.76% | $380,000,000 | 7.13% |
| WCC WESCO International, Inc. | 1.42 | -5.61% | $350,000,000 | 6.58% |
| GOOG Alphabet Inc. (Class C) | 1.09 | -41.49% | $340,000,000 | 6.46% |
| FIS Fidelity National Information Services | 4.50 | +18.84% | $300,000,000 | 5.67% |
| DG Dollar General Corporation | 2.06 | -22.65% | $270,000,000 | 5.19% |
| FERG Ferguson Enterprises Inc. | 1.14 | -1.60% | $250,000,000 | 4.80% |
SOURCE: SEC Form 13F. See the live BMI Smart Money Tracker.
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