United States

Bill Ackman

Pershing Square · concentrated equity activism

Founder and CEO of Pershing Square Capital Management. Runs a concentrated portfolio of eight to twelve equity positions, frequently engaging publicly with management on capital allocation. Quarterly letters explain each name's underlying business in detail.

Every entry below is an auto-generated factual summary of a public filing or disclosure. Not investment advice. Verify before acting.

Letter· FY2025
Feb 18, 2026
Letter to Shareholders in the 2025 Annual Report
Ackman argued market volatility from leveraged traders creates opportunities to buy high-quality mega-cap companies at bargain prices, and outlined a plan to privatize Fannie Mae and Freddie Mac.
Original on pershingsquareholdings.com ↗
Letter· FY2025
Aug 20, 2025
Letter to Shareholders in the 2025 Semiannual Financial Statement
Ackman argues PSH's 15.5% H1 2025 NAV gain reflects strong portfolio companies and tariff-driven repositioning, while flagging speculative market excess.
Original on pershingsquareholdings.com ↗