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BA

Bill Ackman

Pershing Square·activist·Concentrated / activist
PSH / PSHZF

~16% since 2004

Portfolio value

$13.7B

Positions

11

Top 5 concentration

78%

New buys this quarter

1

Track record vs S&P 500

$PSH.L · total return since 2017

$10k grew to

$43k

CAGR

17.5%

vs S&P 500

+4.1%/yr

See the full comparison chart

Quarterly activity

What Bill Ackman bought and sold each quarter.

Mar 2026vs Dec 2025

Bought (2)

$MSFTNew buy15.3%$AMZNAdded+19.2%

Sold (3)

$HLTSold out$GOOGLTrimmed-95.2%$GOOGTrimmed-94.9%
Dec 2025vs Sep 2025

Bought (3)

$METANew buy11.4%$BNAdded+49.7%$AMZNAdded+65%

Sold (2)

$CMGSold out$GOOGLTrimmed-86%
Sep 2025vs Jun 2025

Bought (0)

Sold (1)

$GOOGLTrimmed-9.7%
Jun 2025vs Mar 2025

Bought (2)

$AMZNNew buy9.3%$GOOGLAdded+20.8%

Sold (1)

$CPSold out
Mar 2025vs Dec 2024

Bought (4)

$UBERNew buy18.5%$BNAdded+17.5%$GOOGLAdded+11.3%$HTZAdded+18%

Sold (4)

$NKESold out$HLTTrimmed-44.8%$GOOGTrimmed-16.2%$CMGTrimmed-12.6%
Dec 2024vs Sep 2024

Bought (4)

$HTZNew buy0.4%$BNAdded+6.6%$NKEAdded+15.3%$SEGAdded+139.8%

Sold (2)

$HLTTrimmed-26.2%$CMGTrimmed-14.4%
Sep 2024vs Jun 2024

Bought (3)

$SEGNew buy0.4%$BNAdded+377.6%$NKEAdded+435.5%

Sold (1)

$HLTTrimmed-17.7%
Jun 2024vs Mar 2024

Bought (3)

$BNNew buy2.7%$NKENew buy2.2%$CMGAdded+3773.1%

Sold (2)

$GOOGTrimmed-19.5%$GOOGLTrimmed-8.5%

Quarter-over-quarter change in disclosed positions.

Holdings

StockMove% of portfolioSince report

BROOKFIELD CORP

Held
17.6%
+6.5%

AMAZON COM INC

Added
17.4%
+18.6%

UBER TECHNOLOGIES INC

Held
15.7%
+3.4%

MICROSOFT CORP

New buy
15.3%
+3.8%

RESTAURANT BRANDS INTL INC

Held
12.2%
+1.4%

META PLATFORMS INC

Held
11.1%
+10.4%

HOWARD HUGHES HOLDINGS INC

Held
8.7%
+13.9%

SEAPORT ENTMT GROUP INC

Held
0.8%
+20.2%

ALPHABET INC

Trimmed
0.7%
+24.2%

HERTZ GLOBAL HLDGS INC

Held
0.5%
-52.9%

ALPHABET INC

Trimmed
0.1%
+24.8%

Notable sell-outs this quarter: $HLT

Source: SEC 13F via FMP · Mar 2026 report · 45-day filing delay. Long equity positions only. Not financial advice.