Bill Ackman’s Investment Portfolio in 2025: A Deep Dive into the Strategy Behind the Numbers

Bill Ackman, the founder and CEO of Pershing Square Capital Management, has long been recognized as one of Wall Street’s most influential and outspoken investors. Known for his activist approach, Ackman doesn’t just buy stocks—he actively works to reshape companies from within, often by pressuring management, restructuring operations, or even pushing for board changes. But beyond the headlines and boardroom battles lies a highly concentrated and meticulously constructed portfolio that reveals his deep convictions and long-term vision.

A Snapshot of Ackman’s Portfolio in 2025

Based on the most recent data, Ackman’s portfolio is composed of a relatively small number of high-conviction holdings. This concentration reflects a strategy focused on quality over quantity, betting big on companies he believes are undervalued or positioned for transformational growth.

UBER – 18.5% of the Portfolio

Ackman’s largest position is in Uber Technologies, accounting for 18.5% of his portfolio. This bet underscores his confidence in the future of urban mobility, last-mile logistics, and autonomous vehicle technology. Uber’s expansion into food delivery via Uber Eats and its growing presence in fintech services have also contributed to this strategic investment.

BN – 18.0%

Brookfield Corporation (BN), a global asset manager focused on real estate, infrastructure, and renewable energy, represents 18.0% of the portfolio. This investment offers exposure to real assets and stable cash flows, aligned with long-term structural trends in global development and energy transition.

QSR – 12.8%

Restaurant Brands International (QSR), the parent company of Burger King, Popeyes, and Tim Hortons, accounts for 12.8% of the fund. Ackman has long favored this stock due to its consistent consumer base, international expansion, and efficient franchise model—offering resilience in both stable and volatile economic periods.

HHH – 11.7%

Howard Hughes Holdings (HHH) makes up 11.7% of the portfolio, representing a long-term play on real estate development. The company focuses on large-scale, mixed-use projects in high-growth cities, offering exposure to appreciating land values and urban transformation.

CMG – 9.1%

Chipotle Mexican Grill (CMG) comprises 9.1% of Ackman’s portfolio. The investment reflects his bullish outlook on fast-casual dining, digital ordering platforms, and consumer trends toward healthier, customizable food options.

CP – 8.7%

Ackman holds 8.7% of his portfolio in Canadian Pacific Kansas City (CP), a major rail operator in North America. This position supports his belief in infrastructure and logistics as foundational pillars of economic growth, particularly in an age of increasing regional trade flows.

GOOG and GOOGL – Combined 14.1%

Together, Alphabet’s share classes—GOOG at 8.3% and GOOGL at 5.8%—form 14.1% of the portfolio. This investment secures Ackman exposure to global digital advertising, cloud services, artificial intelligence, and a dominant ecosystem of platforms such as Google Search, YouTube, and Android.

HLT – 5.7%

Hilton Worldwide (HLT), making up 5.7% of the portfolio, represents a bet on the continued recovery and long-term strength of the global travel and hospitality sector. Hilton’s asset-light model and strong brand portfolio make it an attractive holding in a post-pandemic world.

Minor Positions: HTZ and SEG – Below 1% Each

Ackman also maintains smaller positions in Hertz (HTZ, 0.5%) and SEG (0.9%). While these account for less than 1% each, they could represent speculative plays or early-stage entries into undervalued segments.

A Focused, Activist Strategy

What separates Ackman from traditional institutional investors is not just the concentrated nature of his portfolio but the activist approach he takes with many of his holdings. He is known for seeking operational and strategic influence in the companies he invests in—frequently engaging with management, launching proxy campaigns, or proposing major business overhauls.

His investments are rarely passive. Ackman isn’t just looking for cheap stocks; he looks for opportunities to drive change and unlock shareholder value, even if it requires taking a public stand against incumbent leadership.

Conclusion: Strategic Conviction in a Volatile Market

Bill Ackman’s portfolio in 2025 reflects not only deep analytical insight but also boldness and clarity of vision. With significant allocations to companies like Uber, Alphabet, and Chipotle, along with long-term bets on infrastructure, hospitality, and real estate, Ackman continues to demonstrate how concentrated, activist investing—when executed with precision—can outperform in an unpredictable market landscape.