Billionaire Bill Ackman Has 42% of His Hedge Fund’s $18 Billion Portfolio Invested in 3 Incredible Stocks Bill Ackman is one of the most followed investment managers in the world — and with good reason.
As the manager of Pershing Square’s (NYSE: PS) assets, he’s led the hedge fund to produce a compound annual return of nearly 16% since 2004, handily outperforming the S&P 500 in that time
What also makes Ackman attractive is that he holds a highly concentrated portfolio of stocks, and he’s more than willing to discuss his thoughts on each of Pershing Square’s investments. While Ackman hasn’t disclosed the exact holdings of his new fund, Pershing Square USA, disclosures for assets held by the Pershing Square Capital Management fund and Pershing Square itself include 13 different positions. Moreover, about 42% of the invested assets under management is held in just three stocks, all of which warrant a closer look.
Let’s dive in. 1. Amazon (15.3% of assets) Ackman first bought shares of Amazon (NASDAQ: AMZN) in April 2025 amid the tariff-fueled sell-off in stocks. He added to the position earlier this year when the company announced plans to spend as much as $200 billion on capital expenditures (capex), mostly on AI infrastructure.