Bill Ackman just opened a massive new position in a mega cap tech stock, staking more than a billion dollars in the tech giant in just a single quarter.
The latest 13-F filing with the U.S. Securities and Exchange Commission (SEC) shows that Pershing Square Capital Management accumulated 5,823,316 shares of the e-commerce giant Amazon (AMZN), a stake valued at $1.27 billion as of Q2 2025.
The purchase accounts for nearly a tenth of the firm’s $13.7 billion total assets under management. AMZN is trading at $221.95, flat year-to-date.
Alongside the Amazon buy, Pershing boosted its holdings in Alphabet’s Class A shares (GOOGL) by 925,000 over the same quarter to a total of 5,362,980, worth $945.11 million. GOOGL is up about 5% year-to-date.
The fund also added 29,808 shares of Hilton Worldwide (HLT), a global hotel and hospitality chain, lifting its position to 3,030,578 shares valued at $807 million. Meanwhile, Pershing raised its stake in Hertz Global Holdings (HTZ), a car rental company operating across North America and Europe. The fund snapped up 241,127 HTZ shares in Q2, increasing its holdings to 15,241,127, worth $104 million.
The reshuffle was not without exits. Pershing sold its entire 14,799,796-share position in the railway firm Canadian Pacific Kansas City (CP.TO), which had been worth more than $1 billion at the end of Q1 2025.
Ackman is known for his concentrated, high-conviction bets. The billionaire shorted municipal bond insurer MBIA prior to the 2008 crash and flipped a $27 million pandemic hedge into a $2.6 billion windfall during the COVID-19 market turmoil.
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