Bill Ackman Teases Four Mystery Stock Picks — What Investors Should Know

Key Takeaways

• Bill Ackman disclosed four new portfolio positions but won’t reveal names until his Q2 filing
• His Pershing Square USA fund currently trades at approximately 20% below net asset value
• Amazon represents his top holding at 15.3%, with additional purchases following AI infrastructure concerns
• Brookfield comprises 14.9% of the portfolio with projected 25% earnings expansion this year
• Microsoft makes up 12.2% as his most recent major position, initiated during cloud growth concerns

The legendary investor Bill Ackman, who leads Pershing Square Capital Management, revealed on Monday that he’s initiated four fresh investments throughout his fund lineup. The identities of these companies remain undisclosed. According to Ackman, the names will surface when his organization publishes its second-quarter filing.

Ackman shared this news through a post on X, where his audience exceeds 2.4 million followers. Investment professionals and individual traders pay close attention to his portfolio decisions.

He additionally pointed out that Pershing Square USA, his most recent fund launch, is presently valued at roughly 20% beneath its net asset value. According to Ackman, this discount stems from temporary technical dynamics related to the fund’s April public debut.

Since its 2004 inception, Pershing Square Capital Management has delivered approximately 16% compound annual returns, surpassing the S&P 500’s performance throughout this timeframe.

Breaking Down Ackman’s Largest Three Positions

Roughly 42% of Ackman’s total invested capital resides in a trio of companies: Amazon, Brookfield, and Microsoft.

Amazon commands the top spot at 15.3% of the portfolio. Ackman initiated this position in April 2025 amid the tariff-induced market downturn. He expanded the stake earlier this year following Amazon’s announcement of capital expenditure plans reaching $200 billion, primarily allocated toward AI infrastructure development.

Amazon.com, Inc., AMZN

Amazon Web Services continues demonstrating accelerating revenue expansion aligned with this capital deployment. The traditional e-commerce operations are simultaneously enhancing profitability through an optimized distribution network. Ackman projects Amazon can achieve approximately 20% annual earnings per share growth over the intermediate term.

Amazon’s stock price has declined lately, reducing its price-to-earnings multiple to 28, which sits under its historical norm.

Brookfield occupies the number two position at 14.9% of holdings. Ackman established this stake throughout 2024. The corporation anticipates generating $25 billion in carried interest from 2025 through 2034, a dramatic increase from merely $4 billion during the previous ten-year period.

Insurance Division and Technology Platforms Fuel Expansion

Brookfield’s insurance division, operating as Brookfield Wealth Solutions, continues growing rapidly. The organization intends to reintegrate this business to forge stronger connections between insurance capital and investment opportunities. Leadership projects insurance earnings will multiply twofold within a five-year horizon.

Distributable earnings excluding realizations climbed 7% during Q1 following stagnant performance in Q4. The equity trades at 17 times historical distributable earnings. Ackman anticipates 25% earnings expansion for the current year.

Microsoft completes the top trio at 12.2% of the portfolio. Ackman began accumulating shares in February following the company’s Q2 earnings release that failed to meet investor expectations. Azure’s growth trajectory falling short of projections triggered the primary disappointment.

Azure revenue expansion has maintained consistency around the 40% level. Microsoft’s enterprise software revenue advanced 19% year-over-year last quarter, while consumer-facing products expanded 33%. The company maintains a $627 billion backlog.

Microsoft’s current trading price remains close to Ackman’s February entry point.

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