For Q2 2026, Bill Ackman’s Pershing Square Capital Management fund has these as his top holdings.
Brookfield Inc. (TSE: BN). For future infrastructure buildup Brookfield will partake in many private firms. 17.6% of portfolio.
Amazon (NASDAQ: AMZN) for its AWS which powers cloud computing world wide. 17.4%.
Uber for its coming autonomous vehicles. 15.7%
Microsoft (NASDAQ: MSFT). 15.3%.
Restaurant Brands International Inc (NYSE: QSR) - consistent fees from franchisees. 12.2%
Hilton Worldwide (HLT) ~8–9%
Howard Hughes Holdings (HHH) ~5–6%
Note that Ackman sold most of his Alphabet (NASDAQ: GOOG) holding - reducing it from 6.1m to 312K shares! The reason is thought to be for the new large purchase of Amazon.
Warren Buffett added Alphabet (NASDAQ: GOOG) just prior before stepping down as chairman of B-H.
Seth Klarman's The Baupost Group. He is a cautious value investor. This information is from the Q1, 2026 filing.
Amazon (NASDAQ: AMZN) - increased his holding by 47% in the latest quarter, so it is now the largest holding - 12.7% of portfolio.
Restaurant Brands International Inc (NYSE: QSR) 11.67% of portfolio
WESCO International WCC ~7.7%
Union Pacific UNP ~7.3%
Elevance Health ELV ~7.3%
Alphabet (NASDAQ: GOOG) increased position to ~6%
Willis Towers Watson WTW ~6%
Visa (NYES: V) - new purchase - sold three other fintech companies to buy this.
Aon plc (NASDAQ: AON) - new purchase worth about $250m. An insurance advisory company.
Norwegian Cruise Lines (NASDAQ: NCLH) - about $67m worth. Bought when price had declined.
Stanley Druckenmiller's Duquesne Capital holdings:
Natera Inc (NASDAQ: NTRA) - largest holding at 18.1%. A drug company current specializing in cancer screening test.
iShares MSCI Brazil ETF (NYSE: EWZ) - 8.7-9.9%
Insmed Inc (NASDAQ: INSM) - 5.6% holding. Another drug company. 5.6%
Taiwan Semiconductor (NYSE: TSM) - 5%
Invesco S&P 500 Equal Weight ETF (RSP) - 4.7%
YPF (YPF) - 4.4%
BBB Foods (TBBB) - 3.3%
Alcoa (AA) - 2.9%
NewAmsterdam Pharma (NAMS) - 2.9%
Sea Ltd. (SE) - 2.7%
Broadcom (NASDAQ: AVGO) - a new purchase in Q1, 2026 but must be small because the above list is in order of holding size.
