Bill Ackman: Top 5 Positions Make Up 70.14% Of His Portfolio (Analysis)

Bill Ackman’s top 5 positions make up 70.14% of his current portfolio, indicating a high-conviction, concentrated approach. His largest holding, Uber Technologies Inc (UBER), accounts for 18.50%. Below is a detailed look at each of the top 5 positions, including shares held, value, portfolio weight, and commentary.

---

Uber Technologies Inc (UBER)

Shares: 30,301,161
Value: $2.21B
Portfolio %: 18.50%
Change in Shares: +30,301,161
% Change in Shares: 100.00%

Analysis: Ackman’s new top holding signals a massive bet on ride-sharing and delivery at scale. This bold entry could reflect a belief in Uber’s maturing profitability, network effects, and dominance across multiple consumer platforms.

---

Brookfield Corp (BN)

Shares: 41,004,657
Value: $2.15B
Portfolio %: 18.01%
Change in Shares: +6,111,593
% Change in Shares: 17.52%

Analysis: A longtime holding for Ackman, the recent top-up suggests growing confidence in Brookfield’s global asset management and infrastructure platform. It’s a classic Pershing Square position—capital-light, recurring revenue, and asset-backed.

---

Restaurant Brands International Inc (QSR)

Shares: 23,000,914
Value: $1.53B
Portfolio %: 12.85%
Change in Shares: 0
% Change in Shares: 0.00%

Analysis: Ackman maintains his substantial stake in the fast food conglomerate behind Burger King, Popeyes, and Tim Hortons. The unchanged position reflects steady conviction in QSR’s global franchise model and expansion runway.

---

Howard Hughes Holdings Inc (HHH)

Shares: 18,852,064
Value: $1.40B
Portfolio %: 11.71%
Change in Shares: 0
% Change in Shares: 0.00%

Analysis: Ackman continues to hold HHH as a long-term play on real estate development. As a spinoff he once chaired, HHH embodies Pershing Square’s deep-rooted interest in transformative land-based value creation.

---

Chipotle Mexican Grill Inc (CMG)

Shares: 21,541,177
Value: $1.08B
Portfolio %: 9.07%
Change in Shares: –3,112,356
% Change in Shares: –12.62%

Analysis: Despite trimming the position, Ackman’s stake in CMG remains sizeable. The partial reduction may be a profit-taking move after strong performance, but he clearly still sees long-term value in the fast-casual leader’s scalable model and brand power.