In this article, we will take a detailed look at Bill Ackman’s Stock Portfolio: 9 Best Stocks to Buy.
William Albert Ackman, more commonly known as Bill Ackman, is the founder and CEO of Pershing Square Capital Management, a hedge fund management company. Famous for his concentrated portfolio, with stakes in only 8 to 12 stocks at a time, Bill Ackman’s recent portfolio modification has revealed that 47% of his hedge fund is invested in just three stocks.
Analysis of his portfolio reveals that Bill Ackman invests in stocks that are mispriced relative to the long-term value of the company. Historically, this philosophy has served him well since Pershing Square’s total value was just under $13 billion by the end of the third quarter of 2024 with only 9 stocks.
A longtime supporter of the Trump administration, Ackman has been vocal about the benefits that the newly elected president will bring to the investment front. In addition to the prospects of deregulation and corporate tax cuts that could allow for stock prices to rise and have made many investors bullish on the market, Bill Ackman has more vested interests in the Trump office. Pershing has a roughly 10% stake in the common shares of the government-sponsored entities. He took to X to discuss his hypothesis about how Donald Trump could help these giants exit government conservatorship and be recapitalized, leading to substantial shareholder gains for Pershing Square.
In early 2024, Ackman launched a U.S. closed-ended fund called Pershing Square USA, Ltd., and talked about it during his 2024 letter to investors:
“The launch of PSUS is one of a number of strategic initiatives we plan to undertake which we believe will increase the long term sustainability of Pershing Square Capital Management, L.P., (“PSCM” or the “Investment Manager”), and will benefit PSH by reducing the performance fees that it pays. To this end, in June, we sold a 10% interest in PSCM, the proceeds of which will be used to anchor new fund launches including PSUS.”
However, Pershing Square officially canceled its IPO just one day after filing with the SEC due to a $2 billion listing as opposed to its original target valuation of $25 billion. Finally, while announcing the IPO cancellation on X, Ackman wrote “We will report back once we are ready to launch a revised transaction,” hinting at the possible launch of PSUS without listing shares on a stock exchange. Given this, we will take a look at the top stocks in Bill Ackman’s portfolio.
Our Methodology:
The stocks discussed below were picked from Pershing Square’s Q3 2024 13F filings. They are compiled in the ascending order of Pershing Square’s stake in them as of September 30, 2024. In order to assist readers with more perspective, we have included the hedge fund sentiment regarding each stock using data from over 900 hedge funds tracked by Insider Monkey in the third quarter of 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
Bill Ackman’s Stock Portfolio: Top 9 Stock Picks
9. Seaport Entertainment Group Inc. (NYSE:SEG)
Number of Hedge Fund Holders as of Q3: 15
Pershing Square’s Equity Stake: $57.44 Million
Seaport Entertainment Group Inc. (NYSE:SEG) is a leading entertainment and hospitality company established to own, operate, and develop a unique portfolio of assets at the intersection of entertainment and real estate. The company aims to offer unmatched experiences by integrating restaurant, entertainment, sports, retail, and hospitality offerings into distinctive real estate developments that redefine the entertainment and hospitality sectors.
Seaport Entertainment Group Inc. (NYSE:SEG) completed its previously announced separation from its predecessor parent company, Howard Hughes Holdings Inc. (NYSE:HHH), on July 31, 2024, becoming an independent, standalone publicly traded company listed on the NYSE under the ticker symbol “SEG.”
About this, Ackman stated in Pershing Square’s Quarter 2 investor letter:
“On August 1st, the company (Howard Hughes Holdings) successfully completed its spin-off of Seaport Entertainment Group (NYSE:SEG), which is comprised of the Seaport District in New York City, the Las Vegas Aviators minor league baseball team and certain other noncore entertainment assets. Under the leadership of CEO Anton Nikodemus, former President & COO of MGM CityCenter and an entertainment industry veteran with over 30 years of experience, we are optimistic that SEG will unlock the significant embedded upside potential in its unique collection of assets.
PSH is retaining its shares of SEG received from the spin-off and, along with the other Pershing Square funds, has entered into a standby purchase agreement to backstop a $175 million rights offering which SEG intends to launch shortly. Proceeds from the rights offering will provide SEG with the required liquidity to execute on its growth plan. Pershing Square is the largest shareholder of SEG. Anthony Massaro, a member of the investment team, has joined the Board of SEG.”
Seaport Entertainment Group Inc. (NYSE:SEG) recently provided an update on its corporate activities, which included entering into an interim license agreement and long-term lease with Grupo Gitano, based in Tulum, to open its first permanent, year-round New York dining and nightlife experience, GITANO NYC, spanning 13,605 square feet at Pier 17. Moreover, it announced the hiring and onboarding of employees from Creative Culinary Management Company LLC (“CCMC”), a subsidiary of Jean-Georges Restaurants, and entering into a shared services agreement with CCMC to begin internalizing food and beverage operations at most of its wholly owned and joint venture-owned restaurants at the Seaport.
Anton Nikodemus, Chairman, President, and CEO of Seaport Entertainment Group Inc. (NYSE:SEG), expressed excitement about introducing GITANO NYC to Pier 17, highlighting its Bohemian-inspired design, nightlife, and modern Mexican cuisine as a valuable addition to the company’s world-class waterfront restaurants with breathtaking views of the Brooklyn Bridge and the New York City skyline.
At the end of Q3 2024, 15 hedge funds in Insider Monkey’s database owned stakes in Seaport Entertainment Group Inc. (NYSE:SEG), worth $97.4 million collectively.
8. Alphabet Inc. (NASDAQ:GOOGL)
Number of Hedge Fund Holders as of Q3: 202
Pershing Square’s Equity Stake: $1.26 Billion
Alphabet Inc. (NASDAQ:GOOGL) is the only stock that Ackman holds in the technology sector, and hence the only holding that allows Pershing Square to participate in the race for artificial intelligence. Although Ackman has maintained its stake in the company across the second and third quarters of 2024, its equity stake has fallen from $1.38 billion at the end of Q2 2024 to $1.26 billion by the end of Q3 the same year.
Popular for its leading search engine Google, Alphabet Inc. (NASDAQ:GOOGL) is also involved in developing artificial intelligence, mobile operating systems, and cloud computing services to make money through the sale of advertising and various service fees. Although revenue from Google Cloud is growing rapidly, the company still generates most of its revenue from Google Adsense, the branch that deals with advertising.
Alphabet Inc. (NASDAQ:GOOGL)’s revenue for Q3 2024 was $88.27 billion, up 11% from the same period the previous year, and compared to the analysts’ expectations of $86.39 billion. Its net income for the quarter was $26.3 billion, reflecting a year-over-year increase of 33.6%. Operating income was $28.5 billion, compared with $21.3 billion for the same quarter in 2023. It beat the consensus estimate of $1.83 by $0.29, reporting earnings per share for the quarter to be $2.12 against $1.55 EPS for the same period in 2023.
Google has partnered with HP to integrate its Project Starline with popular video conferencing platforms, Google Meet and Zoom, and is set to launch the 3D video call technology in 2025. After refining the technology, initially designed for a booth setup, into a more accessible screen-based format, Google is now preparing to introduce Project Starline to the broader public to improve the video conferencing experience. In addition, Google Cloud, a subsidiary of Alphabet, has revealed that streaming powerhouses Spotify and Paramount Global are now using its newly developed Axion chip for enhanced performance and efficiency, further strengthening the position of Alphabet Inc. (NASDAQ:GOOGL) as an industry leader in artificial intelligent.
Oakmark Equity and Income Fund stated the following regarding Alphabet Inc. (NASDAQ:GOOGL) in its Q4 2024 investor letter:
“Alphabet Inc. (NASDAQ:GOOGL) was the top contributor during the quarter. Despite ongoing litigation with the Department of Justice in its antitrust case, the U.S.-headquartered interactive media and services company’s stock price rose after posting solid third-quarter earnings. In the Search division, the company generated low-teens year-over-year revenue growth and management highlighted that they’re seeing strong user engagement with their new AI Overviews feature. The biggest upside surprise came from the Cloud division, where revenue growth accelerated to 35% and margins reached a record of 17%. This performance was driven by client demand for AI Infrastructure and Generative AI Solutions as well as core Google Cloud Platform (GCP) products. We continue to believe Alphabet is a collection of great businesses that can unlock further value over the long term through its world-class AI capabilities.”
7. Canadian Pacific Kansas City Limited (NYSE:CP)
Number of Hedge Fund Holders as of Q3: 53
Pershing Square’s Equity Stake: $1.27 Billion
Pershing Square held roughly 14.9 million shares of Canadian Pacific Kansas City Limited (NYSE:CP) by the end of the third quarter of 2024 with no significant decrease in its Q2 holding of the stock. However, the value of the stock increased to $1.27 billion at the end of Q3 from just under $1.18 billion in Q2.
At the end of the third quarter of 2024, 53 hedge funds owned stocks in Canadian Pacific Kansas City Limited (NYSE:CP). Since only 45 funds had stakes in the company when the second quarter ended, it indicates a strong hedge fund sentiment about the company. Its Q3 revenue was announced to be $3.5 billion which demonstrated year-over-year growth of 6%.
Headquartered in Calgary, Canada, and founded in 2001, Canadian Pacific Kansas City Limited (NYSE:CP) provides rail freight transportation services to link Canada, the United States, and now across Mexico since its recent acquisition of Kansas City Southern in 2023. CP has grown significantly since then, as the acquisition allowed it to expand into a broader market and offer its services between the three biggest economies in the continent. Currently stretching roughly 20,000 miles in rail tracks and employing 20,000 railroad employees, the company boasts unrivaled access to major ports from Vancouver to Atlantic, Canada, and the Gulf of México to Lázaro Cárdenas, México. It offers a range of freight transportation services, logistics solutions, and supply chain expertise to North American customers.
As a result, in December 2024, Jefferies reiterated its Buy rating on shares of Canadian Pacific Kansas City Limited (NYSE:CP) and kept the firm’s price target consistent at $100.
Here is what Pershing Square Holdings said about Canadian Pacific Kansas City Limited (NYSE:CP) in its second quarter 2024 investor letter:
“Volume growth of 6% in the second quarter was well ahead of management’s expectations, driven by synergy wins and solid Canadian grain shipments. CPKC has made considerable progress on realizing revenue synergies despite a challenging freight environment, and now expects to exit 2024 with C$800 million of new business. These wins span a wide variety of end markets from automotive to corn, demonstrating the unique value proposition of CPKC’s network.
Cost synergies are also tracking ahead of plan as CPKC realizes savings from combining procurement and general and administrative functions. These cost savings together with strong operations across the network led to a 280 basis point year over-year improvement in CPKC’s adjusted operating ratio in the second quarter.
We believe that CPKC’s one-of-a-kind network and industry-leading management team are well positioned to deliver continued synergy wins and excellent operations, which should generate strong double-digit earnings growth in the coming years.”
6. Nike Inc. (NYSE:NKE)
Number of Hedge Fund Holders as of Q3: 75
Pershing Square’s Equity Stake: $1.44 Billion
Nike Inc. (NYSE:NKE) is among Pershing Square’s newer investments; from having no stake in it by Q1 2024, Pershing Square purchased over 3.04 million shares in the company in Q2 and holds roughly 16.28 million shares of the company as of Q3 2024. The stock represented a little over 11% of Ackman’s portfolio. As opposed to 67 hedge funds that had stakes in Nike at the end of the previous quarter, 75 held its shares by Q3 2024.
Based in Oregon, Nike Inc. (NYSE:NKE) is globally known for its athletic footwear and apparel. Employing over 83000 workers globally, it operates through three segments: Nike Brand, Converse, and Corporate. Nike Brand includes the geographical division of North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; and Global Brand Divisions while Converse covers the entire supply chain for sneakers, apparel, and accessories. Corporate deals with the business of both Nike Brand and Converse that is managed through the company’s central foreign exchange risk management program.
Nike Inc. (NYSE:NKE) reported its quarterly revenue for Q2 of fiscal year 2025 as $12.35 billion. The Nike Brand segment was responsible for over 96% of the company’s total revenue as it alone generated $11.95 billion in the quarter ending November 2024. The company boasted high second-quarter earnings for fiscal 2025, totaling $0.78 and beating a consensus estimate of $0.63 by $0.15.
Recently, Nike’s new CEO Elliot Hill openly admitted that he had long aspired to the corner office. However, he said his journey to the title was fueled majorly by his confidence in his leadership abilities, his passion for sports, and an “irrational love” for the Nike brand. Just two months into his tenure, Hill said that his leadership role at the company was his “destiny.”
Mar Vista Focus strategy stated the following regarding NIKE, Inc. (NYSE:NKE) in its second quarter 2024 investor letter:
“Nike maintains its position as the global leader in sportswear. However, its revenue growth has been hampered by a lack of innovation, and its recovery is further complicated by deteriorating macroeconomic conditions in the US and China. The company’s renewed focus on innovation and efforts to re-engage with wholesale channels may eventually help restore growth, but we believe increased skepticism regarding management’s ability to execute is justified.”
However, all through 2024, Nike Inc. (NYSE:NKE) has been at the forefront of using innovative and technological advancements to improve upon its products and services: it strategically integrated machine learning, data science, augmented reality, and recommender models into its operations in a remarkable show of innovation. The company’s initiatives in 2018 and 2019, namely Nike Fit and Personalized Customer Experience have paved the way for the 2024 initiatives of Generative AI for Product Design, Athlete Imagined Revolution (A.I.R.) Project, and AI-Optimized Air Technology. These new efforts use innovative technologies like Generative AI, 3D printing, computational design, and virtual reality to dramatically enhance the consumer experience, optimize the supply chain, and fuel product innovation.
5. Howard Hughes Holdings Inc. (NYSE:HHH)
Number of Hedge Fund Holders as of Q3: 39
Pershing Square’s Equity Stake: $1.46 Billion
Howard Hughes Holdings Inc. (NYSE:HHH) is the fifth largest holding in Bill Ackman’s stock portfolio, operating as a real estate development conglomerate. Pershing Square held over 18.85 million shares of the company as of Q3 2024 which constitutes 37.6% of the company, making it the most remarkable shareholder in the company.
Howard Hughes Holdings Inc. (NYSE:HHH) demonstrated a strong Q3 2024 performance. The reported revenue of $327.15 million for the quarter indicates solid business growth. The earnings per share (EPS) for Q3 2024 was a solid $1.46, which exceeded analyst estimates of $1.27 by a significant $0.19 and is a clear positive.
In January 2025, Ackman announced that Howard Hughes Holdings Inc. (NYSE:HHH) would be buying back its shares for $500 million while Pershing Square would increase its stake in the company by $1 billion in the near future. Depending on how many investors Howard Hughes Holdings would buy out, such a move would increase Pershing Square’s stake in Howard Hughes to somewhere between 61% and 69%. Howard Hughes Holdings Inc. (NYSE:HHH) has announced Pershing Square’s proposal to acquire additional shares for a potential merger. However, there is no guarantee that the transaction will proceed since such a major decision requires approval from a majority of shareholders not affiliated with Pershing Square.
Pender Strategic Growth and Income Fund stated the following regarding Howard Hughes Holdings Inc. (NYSE:HHH) in its Q3 2024 investor letter:
“We added Howard Hughes Holdings Inc. (NYSE:HHH) as an asymmetric special situation investment, believing the company’s sum-of-the-parts real estate-driven value is significantly higher than the market reflects. Public markets often undervalue complex, self-funded companies like HHH, which have extended value creation cycles. The lack of clear catalysts to close this valuation gap has been a key challenge. However, in August, that changed when the management team announced they were exploring strategic options, including a potential take-private transaction, increasing the likelihood of such a move. As a lucky bonus, the Fed’s September rate cut also benefited HHH. We view this as an opportunistic short-term position.”
4. Restaurant Brands International Inc. (NYSE:QSR)
Number of Hedge Fund Holders as of Q3: 29
Pershing Square’s Equity Stake: $1.66 Billion
Restaurant Brands International Inc. (NYSE:QSR) is a Canadian American multinational fast food holding company in Bill Ackman’s stock portfolio and one of the two restaurant-related stocks that the hedge fund has stakes in. As of Q3 2024, the hedge fund holds just over 23 million shares of the company valued at roughly $1.66 billion, down slightly from 23.14 million in Q2. Restaurant Brands International Inc. (NYSE:QSR) represents a solid 15.64% of Pershing Square’s portfolio, which held the largest stake in the company in Q3 2024.
Operating in more than 120 countries with 30,000 restaurants, Restaurant Brands International Inc. (NYSE:QSR) owns four prominent restaurant brands: Tim Hortons, Burger King, Popeyes, and Firehouse Subs. It was founded in 2014 with the merger of Tim Hortons and Burger King, and later acquired Popeyes in 2017, and Firehouse Subs in 2021. At the time of the merger, in Q3 of 2014, Pershing Square had a $1.14 billion stake in Burger King Worldwide which transformed into a $1.48 billion stake in Restaurant Brands International Inc. (NYSE:QSR) by Q4 of the same year.
Of the four brands that it owns, Burger King has seen a drop in sales in the US during 2024 due to broad price increases. QSR states that it would adopt a balanced approach to ensure profitability while appealing to customers. Josh Kobza, CEO of Restaurant Brands International Inc. (NYSE:QSR) maintained, “Our balanced approach to everyday value continues to resonate with guests and the team has reacted calmly in the face of heightened promotional activity across the industry.”
Restaurant Brands International Inc. (NYSE:QSR)’s Q3 revenue was 2.29 million with a year-on-year growth of annual sales of 3.2%. Its adjusted operated income of $652 million increased 6.1% organically as compared to the same quarter in 2023. Moreover, the company’s Q3 net restaurant growth expanded by 3.8% compared to the previous year despite cost inflation.
Restaurant Brands International Inc. (NYSE:QSR) offers a 3.67% dividend yield and has raised its dividend for 10 consecutive years. KeyBanc revised its outlook for the stock, decreasing the price target from $80 to $78 while maintaining an Overweight rating on the stock. This suggests that the current trading price of Restaurant Brands International’s stock does not accurately reflect the company’s growth potential in the long term.
However, Ackman’s investment in Restaurant Brands International Inc. (NYSE:QSR) is a sign of his optimism about the company’s prospects. The company has good long-term growth prospects since its brands are much less penetrated in the global market as are its competitors like McDonald’s or KFC.
Insider Monkey’s database indicated that 29 hedge funds out of the 900 funds held stakes in Restaurant Brands International Inc. (NYSE:QSR) as of the end of Q3 2024 as opposed to 22 in Q2.
Pershing Square stated the following regarding Restaurant Brands International Inc. (NYSE:QSR) in its second quarter 2024 investor letter:
“In light of weakening economic conditions and ongoing boycotts, the company lowered its net restaurant and system-wide sales growth outlook this year. In response, the company is enacting a cost savings program which will enable it to grow operating profits by more than 8%. While an uncertain environment may impact unit growth in the near-term, we believe each of the company’s brands will benefit in a slower economic environment with consumers trading down.”
3. Chipotle Mexican Grill, Inc. (NYSE:CMG)
Number of Hedge Fund Holders as of Q3: 69
Pershing Square’s Equity Stake: $1.66 Billion
Chipotle Mexican Grill, Inc. (NYSE:CMG) is one of the two investments that Bill Ackman has in the restaurant sector. Ackman has held stakes in the company since 2016 and currently holds roughly 28.82 million shares that make up 12.85% of the entire portfolio.
As the name suggests, the company is an American multinational chain of fast-casual restaurants that specialize in Mexican cuisine, especially bowls, tacos, and burritos made to order in front of the customer. Chipotle Mexican Grill, Inc. (NYSE:CMG) is popular with the young and old alike as it responds well to local tastes and popular culture. Recently, it announced that it would give away 50,000 free entrees during the Super Bowl and instantly became a fan favorite with football enthusiasts.
Restaurants across the United States have been struggling with revenue growth due to rising menu prices in the past year. Consequently, Chipotle Mexican Grill, Inc. (NYSE:CMG) missed market expectations for same-store sales growth in Q3 but managed to maintain its growth target for annual comparable restaurant sales. Consequently, it missed the consensus estimates by 18% and reported revenue of $2.79 billion instead of the expected $2.82 billion in the third quarter of 2024. However, it managed to beat the estimated EPS of $0.25 by 6.25 percentage points and reported earnings of $0.27.
Months after the unexpected exit of former CEO Brian Niccol from Chipotle Mexican Grill, Inc. (NYSE:CMG) to take the top job in Starbucks in August, the interim CEO Scott Boatwright was confirmed as the permanent CEO in early November. Boatwright has been brought in at a challenging time when restaurants across the country struggle with falling consumer demand due to higher menu prices.
ClearBridge Growth Strategy stated the following regarding Chipotle Mexican Grill, Inc. (NYSE:CMG) in its Q4 2024 investor letter:
“We also initiated a position in fast casual restaurant chain Chipotle Mexican Grill, Inc. (NYSE:CMG). The recent pullback in shares related to a moderation in industry-wide restaurant sales and CEO Brian Niccol’s August departure created an attractive entry point into a company with industry-leading unit economics in a still underpenetrated market. Chipotle plans to double its store footprint over time while executing initiatives to increase volume growth through technology enhancements, reduced mobile order friction and higher production during peak hours. Better throughput, technological integration and improved mix should help to drive continued margin expansion. Chipotle further diversifies the portfolio, adding to consumer discretionary where we have historically had less exposure.”
2. Hilton Worldwide Holdings Inc. (NYSE:HLT)
Number of Hedge Fund Holders as of Q3: 69
Pershing Square’s Equity Stake: $1.70 Billion
Founded in 1919 and headquartered in McLean, Virginia, Hilton Worldwide Holdings Inc. (NYSE:HLT) is an American multinational hospitality company that manages and franchises a broad portfolio of hotels, resorts, and timeshare properties. The company owns and operates three major kinds of hospitality businesses: luxury and full-service hotels and resorts, extended-stay suites, and focused-service hotels. Apart from boarding and lodging, Hilton Worldwide Holdings Inc. (NYSE:HLT) offers its guests food, restaurants, dining, and loyalty programs.
Pershing Square owns over 7.37 million shares of the company as of Q3 2024, with a total value of nearly $1.70 million. During the third quarter of 2024, the fund decreased its stake in Hilton Worldwide Holdings Inc. (NYSE:HLT) by 17.67% from 8.95 million. However, by the end of the September quarter, 68 funds out of the 900 funds tracked by Insider Monkey held stakes in Hilton worth over $6.26 billion, up from 64 funds by the end of Q2 which suggests an overall positive hedge fund sentiment about the stock.
The most recent earnings results of Hilton Worldwide Holdings Inc. (NYSE:HLT) reported that the company has beat the consensus estimate of $1.84 by $0.08, posting earnings per share for the quarter to be $1.92 against $1.55 EPS for the same period in 2023. September marked the end of the third consecutive quarter wherein the company beat analyst expectations for its EPS. The quarterly revenue was reported as $2.87 billion, up 7.26% compared to $2.67 billion for the same quarter last year. Its net income for the third quarter of 2024 was $344 million, reflecting a year-over-year decrease of 8.75%. Operating income was $ 622 million, down 4.31% from the same quarter of 2023.
Hilton Worldwide Holdings Inc. (NYSE:HLT) is set to significantly expand its presence in the fast-growing lifestyle hotel category, with plans to double its portfolio from 350 to 700 properties by 2028. This growth is driven by strong demand from both guests and hotel owners, fuelled by Hilton’s recent acquisition of Graduate Hotels and NoMad. In 2023 alone, Hilton added over 50 new lifestyle hotels and approved another 100, with expectations to open over 100 more in 2024. The addition of Graduate and NoMad brands will further support this expansion, including the debut of NoMad’s flagship London hotel and several new Graduate properties. According to Kevin Jacobs, chief financial officer, and president, as Hilton celebrates 10 years in the lifestyle segment, the company is focused on rapid growth, aiming to provide distinctive, localized travel experiences in top global destinations.
Pershing Square stated the following regarding Hilton Worldwide Holdings Inc. (NYSE:HLT) in its Q2 2024 investor letter:
“In the first half of 2024, Hilton generated strong revenue growth as the lodging industry experienced solid global demand against a favorable supply backdrop. Near-term industry trends remain positive, with continued strong international growth, improving business transient demand and extremely robust group demand, which is poised to sequentially accelerate in the third quarter. Leisure travel continued to moderate from the high levels of recent years following the COVID-19 reopening.”
1. Brookfield Corporation (NYSE:BN)
Number of Hedge Fund Holders as of Q3: 37
Pershing Square’s Equity Stake: $1.74 Billion
Brookfield Corporation (NYSE:BN) is a Canadian multinational company that is one of the world’s largest alternative investment management companies and the biggest holding in Bill Ackman’s stock portfolio. Headquartered in Toronto, Canada, the company manages direct control investments in real estate, renewable power, infrastructure, credit, and private equity.
Brookfield is among Pershing Square’s newer investments. The hedge fund purchased over 6.85 million shares in the company in Q2 and increased its stake by a whopping 378%. Ackman held roughly 32.74 million shares of Brookfield Corporation (NYSE:BN) as of Q3 2024, which represented 13.47% of his portfolio. As opposed to 34 hedge funds that had stakes in Brookfield Asset Management at the end of the previous quarter, 37 held its shares by Q3 2024.
In January 2025, Brookfield Corporation (NYSE:BN) raised its bets in Japan, Asia’s second-largest economy, by acquiring a stake in a Tokyo commercial complex and a Nagoya logistics project for a total of $1.6 billion. Ankur Gupta, the head of Asia Pacific and Middle East real estate at Brookfield, stated that these transactions reflect the opportunities they plan to pursue in Japan in 2025, focusing on deploying significant real estate capital, especially in logistics and high-quality office spaces.
For the quarter ended September 2024, Brookfield Corporation (NYSE:BN) posted revenues of $1.12 billion which is 25.4% up from the revenues of $893 million in the previous year. Brookfield Asset Management reported quarterly earnings of $0.31 per share in Q3, the same as the quarter a year ago. In November 2024, the company published its earnings call transcript wherein it announced that its Board of Directors had declared a quarterly dividend of $0.08 per share, payable on December 31st to shareholders of record at the close of business on December 16th, 2024.
Overall Brookfield Corporation (NYSE:BN) ranks first on our list of Bill Ackman’s top 9 stocks to buy. While we acknowledge the potential for BN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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