Key Takeaways
- The billionaire investor disclosed four undisclosed stock purchases set to be revealed in Q2 filings
- His fund Pershing Square USA currently trades approximately 20% below net asset value
- Amazon (AMZN) stock represents his top position at 15.3% following AI infrastructure sell-off purchases
- Brookfield comprises 14.9% of the portfolio with projected 25% annual earnings expansion
- Microsoft (MSFT) stock is his latest major buy at 12.2%, acquired during Azure growth concerns
The renowned investor Bill Ackman, who runs Pershing Square Capital Management, disclosed Monday that he has initiated four fresh investments within his portfolio. The specific companies remain unnamed. According to his statement, full disclosure will come with the firm’s quarterly filing for the second quarter.
The disclosure came through a social media post on X, where Ackman maintains an audience of 2.4 million. Investment professionals and individual traders regularly monitor his portfolio decisions for market insights.
Ackman additionally pointed out that Pershing Square USA, his most recent fund vehicle, currently shows a roughly 20% markdown relative to its underlying asset value. According to the investor, this pricing gap stems from temporary market mechanics following the fund’s April debut on public markets.
Since its 2004 inception, Pershing Square Capital Management has delivered approximately 16% annualized returns, outperforming the S&P 500 benchmark throughout this timeframe.
Examining Ackman’s Three Dominant Positions
Roughly 42% of the fund’s capital is concentrated within three equities: Amazon, Brookfield, and Microsoft.
Amazon commands the leading allocation at 15.3%. The initial stake was established in April 2025 amid tariff-related market turbulence. Additional shares were purchased this year following Amazon’s revelation of capital expenditure plans reaching $200 billion, predominantly allocated toward artificial intelligence infrastructure.
Amazon Web Services continues demonstrating accelerating top-line expansion aligned with this capital deployment. Meanwhile, the e-commerce segment continues enhancing profitability through optimized delivery network efficiency. Ackman projects medium-term earnings per share growth of approximately 20% annually for the company.
Recent share price weakness has brought Amazon’s price-to-earnings multiple to 28, positioned beneath historical norms.
Brookfield occupies the runner-up spot at 14.9% of assets. This position was established throughout 2024. The asset manager anticipates generating $25 billion in performance fees spanning 2025 through 2034, a dramatic increase from merely $4 billion collected during the preceding ten years.
Insurance Operations and Technology Platforms Fuel Expansion
Brookfield’s insurance division, operating as Brookfield Wealth Solutions, continues its expansion trajectory. Management intends to consolidate this business to enhance integration between insurance capital and investment deployment. Leadership has indicated expectations for insurance segment earnings to double across the next five-year period.
Distributable earnings excluding realizations climbed 7% during the first quarter following stagnation in the fourth quarter. The equity trades at 17 times historical distributable earnings. Ackman anticipates 25% profit growth for the current year.
Microsoft completes the top three holdings at 12.2%. Position building commenced in February following disappointing quarterly results that rattled market participants. Concerns centered on Azure cloud platform growth that fell short of expectations.
Azure revenue expansion has maintained consistency around the 40% level. Commercial software revenue for Microsoft advanced 19% year-over-year last quarter, while consumer-focused products surged 33%. The company maintains a $627 billion contract backlog.
Microsoft shares currently trade near Ackman’s February entry price point.
