Bill Ackman has long been known for his bold, high-conviction investing style. As the founder and CEO of Pershing Square Capital Management, Ackman has built a concentrated portfolio strategy rooted in deep research, operational insight, and a willingness to take activist positions when needed. While some investors spread risk across dozens of names, Ackman prefers a focused group of businesses he believes are poised for durable, long-term growth.
Ackman’s investment philosophy blends traditional value principles with an eye for transformation. Whether it’s identifying undervalued real estate assets or backing emerging leaders in technology and transportation, Pershing Square tends to make big moves and stick with them. But the fund also knows when to pivot, and recent additions to the portfolio reveal where Ackman is finding fresh opportunity in today’s evolving market.
With over $13 billion in publicly disclosed U.S. equities as of March 31, 2025, Pershing Square’s latest 13F filing highlights some notable new positions, including Uber Technologies and increased exposure to Amazon. Below are the key additions that signal where Bill Ackman sees the next wave of value creation taking shape.
1. Uber (UBER) 14.18% of portfolio
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Uber is one of the newest and fastest-growing positions in Pershing Square’s portfolio, now representing 14.18% of total assets. Ackman initiated the stake in January 2025, acquiring approximately 30.3 million shares valued at $2.2 billion. The investment marks a major move into the mobility and logistics sector, and it’s already become one of the fund’s largest holdings.
Ackman’s bet on Uber suggests confidence in the company’s evolution from a high-growth disruptor to a profitable, platform-driven business. With Uber recently achieving GAAP profitability and expanding margins across mobility, delivery, and freight, the company aligns with Ackman’s preference for scalable, cash-generating models.
The move may also reflect a belief that Uber’s pricing power, data advantage, and global reach remain underappreciated in the broader market.
2. Hertz Global Holdings Inc (HTZ) 0.38% of portfolio
Hertz is a less conventional holding for Pershing Square, but its recent addition suggests Ackman is willing to take calculated risks on cyclical businesses with turnaround potential. Last quarter, Pershing added 15 million shares to their holding, representing a 17.98% increase. The position now makes up 0.38% of the portfolio.
However, the position has drawn attention as a new bet on travel and transportation infrastructure. The move into Hertz may signal Ackman’s confidence in a post-pandemic recovery for global travel and a renewed focus on corporate and leisure mobility.
Hertz’s efforts to modernize its fleet, expand into EV rentals, and restructure its business model may present the kind of operational leverage Ackman looks for in early-stage turnarounds. It also fits with his history of backing legacy brands that are repositioning for a more tech-forward future.
3. Amazon (AMZN) Unknown % of portfolio
Amazon has reemerged in Pershing Square’s portfolio in Q2 2025, although the full scope of the position has not yet been detailed in a new Form 13F filing.
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Ackman has publicly stated that the fund bought Amazon at what he described as an “extremely attractive price,” suggesting a strong belief in the company’s long-term value. While exact share counts remain unconfirmed, estimates place the stake around 2.5 million shares, potentially valued at $478 million, which would make it a meaningful allocation within the fund.
Ackman’s investment in Amazon likely reflects confidence in the company’s powerful infrastructure layer, especially its AWS cloud business and rapidly growing digital advertising arm.
Even as e-commerce growth moderates, Amazon’s scale, logistics network, and recurring revenue streams provide durable cash flow. The position appears to fit Ackman’s preference for category-defining businesses with the potential to compound value over time, particularly when acquired at a discount.
Ackman Invests in Conviction, Not Consensus
Bill Ackman’s investment strategy has always favored focus over diversification. As the founder of Pershing Square Capital Management, Ackman is known for building a concentrated portfolio of high-conviction ideas, often stepping into names where he sees operational leverage, strong leadership, or a path to long-term value creation that the broader market may be missing.
Pershing Square’s recent moves highlight this philosophy in action. The firm has added large positions in Uber and Amazon, along with a more targeted bet on Hertz Global, signaling a rotation toward platform-driven businesses and post-restructuring growth stories. For investors tracking Ackman’s portfolio, these additions reveal a disciplined yet opportunistic outlook, where valuation, scalability, and timing matter more than following the crowd.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
