Bill Ackman · quarter digest

What Bill Ackman did in Q1 2025

Pershing Square Capital filed 8 moves in Q1 2025: 3 new, 2 add, 3 trim, 0 exit.

13F filed 2025-05-15. Manager quality score: q8. Philosophy: Concentrated bets on high-quality businesses with activist catalysts.

New positions · 3

Fresh money

UBERUBER TECHNOLOGIES INC

NEW·18.5% book·+19

NEW·3.1% book·+5

“Ackman's first Nike position.”

HTZHERTZ GLOBAL HLDGS INC

NEW·0.5% book·−1

Adds · 2

ADD +8%·7.8% book·+23

“Building Brookfield.”

GOOGLALPHABET INC

ADD +11%·5.8% book·−9

Trims · 3

CMGCHIPOTLE MEXICAN GRILL INC

TRIM -13%·9.1% book·+8

GOOGALPHABET INC

TRIM -16%·8.3% book·0

HLTHILTON WORLDWIDE HLDGS INC

TRIM -45%·5.7% book·+1

Current top holdings

#	Ticker	Weight	Conviction
1	CMG Chipotle Mexican Grill	21.4%	+8
2	QSR Restaurant Brands International	14.8%	+12
3	HHH Howard Hughes Holdings	13.2%	+6
4	GOOG Alphabet Class C	11.7%	0
5	BN Brookfield Corp	9.5%	+23
6	HLT Hilton Worldwide	9.1%	+1
7	CP Canadian Pacific Kansas City	6.8%	0
8	NKE Nike	5.3%	+5

Not investment advice. Data from 13F filings with HoldLens parsing. Methodology.