Bill Ackman
Bill Ackman
Investment Philosophy
Bill Ackman is one of the most high-profile activist investors in the world, known for taking large, concentrated positions in companies and then pushing aggressively for changes to unlock shareholder value. Through Pershing Square Capital, he typically holds only 8–12 positions, betting heavily on his highest-conviction ideas.
Ackman’s approach combines deep fundamental analysis with strategic activism — he identifies companies with strong underlying businesses that are underperforming due to poor capital allocation, operational inefficiency, or strategic missteps. He then acquires a significant stake and works with (or against) management to implement changes.
His most famous trades include his massive short of Herbalife and his highly successful investment in Chipotle. Ackman’s willingness to engage publicly, defend his theses on television, and fight management teams makes him one of the most compelling — and controversial — figures in modern finance.
Current Portfolio
Source: SEC 13F Filing (Q4 2025)
| Ticker / Security Name | Shares (MM) | Δ Shares (%) | Value (Full $) | 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% |
| EXP / Eagle Materials Inc. | 1.19 | +26.14% | $240,000,000 | 4.64% |
| LBTYK / Liberty Global Ltd. | 20.88 | -3.57% | $230,000,000 | 4.37% |
| GPC / Genuine Parts Company | 1.49 | +6.53% | $180,000,000 | 3.46% |
| FI / Fiserv, Inc. | 2.20 | +145.81% | $150,000,000 | 2.80% |
| CRH / CRH plc | 1.07 | -68.29% | $130,000,000 | 2.54% |
| HLF / Herbalife Ltd. | 9.26 | +19.33% | $120,000,000 | 2.26% |
| MOH / Molina Healthcare, Inc. | 0.62 | NEW | $110,000,000 | 2.05% |
| AERO / Grupo Aeroméxico S.A. | 4.86 | NEW | $110,000,000 | 2.02% |
| GDS / GDS Holdings Limited | 3.04 | -6.31% | $110,000,000 | 2.01% |
| COLD / Americold Realty Trust, Inc. | 3.48 | -3.45% | $40,000,000 | 0.85% |
| LBTYA / Liberty Global Ltd. | 2.08 | -59.02% | $20,000,000 | 0.44% |
| TBN / Tamboran Resources Corporation | 0.26 | -54.94% | $10,000,000 | 0.13% |
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