Bill Ackman Builds Big New Stake

In a conference call with investors to discuss second-quarter results, the Pershing Square founder said his firm has built a sizable position in a company he declined to name.

Michelle Celarier December 21, 2025

Bill Ackman

(Christopher Goodney/Bloomberg)

Pershing Square Capital Management CEO Bill Ackman, fresh off his best half-yearly performance since launching his public fund in 2014, told those investors Wednesday in a conference call that the firm has a new, undisclosed position representing about 10 percent of its portfolio.“It’s quite undervalued,

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