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Investors / stance tracking

What Bill Ackman is saying

CEO, Pershing Square

115 dated public stances tracked since 2016-11-07, most recently 2026-07-20. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.

The stances below are c8alpha's editorial distillation of Bill Ackman's public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. Bill Ackman is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.

Think we got something wrong? Report a misattribution — we correct it or take it down.

115
tracked stances
63
themes
7
side flips
2026-07-20
last heard
Returns  90d +2.5% (n=66) · 180d -0.8% (n=52) · 1y +0.1% (n=21)

Raw direction-aware returns on public statements — long calls credited when the price rose, shorts when it fell, shorts capped at −100% — in a rising market this mostly measures who was long, not who has skill. Returns run from the stance date; calls are rarely closed publicly, so fixed 90-day / 180-day / 1-year horizons are used. A horizon shows only once it has fully matured, and only at 5+ scored stances.

View flips

Where the tracked view on a theme reversed between appearances — bullish to bearish or back. Dates are the episodes on each side of the turn.

MSFT — bearish2025-11-29 → bullish2026-06-03
META — bearish2025-11-29 → bullish2026-05-06
AMZN — bearish2025-11-29 → bullish2025-11-30
USTS — bearish2025-09-19 → bullish2025-11-30
GOOGL — bearish2025-11-29 → bullish2025-11-30
GOOGL — bullish2025-10-21 → bearish2025-11-29
Long Dur Treasuries — bearish2023-09-28 → bullish2024-01-13

Most-argued themes

ThemeStancesLeanMixLast
HHH88 bullish2026-06-17
CMG66 bullish2026-04-29
GOOGL65 bullish / 1 bearish2026-02-05
AMZN54 bullish / 1 bearish2026-07-20
META54 bullish / 1 bearish2026-07-20
MSFT43 bullish / 1 bearish2026-07-20

Tracked stances

bullish / bearish is a view they argued; owns / short is a position they said they hold.

2026-07-20 META bullish Bill Ackman · video
Meta is a cheap, high-quality business that is a beneficiary of AI and will compound at high rates, making it one of Pershing Square's durable compounder holdings.
“if Microsoft and Amazon and Meta are cheap stocks, which we believe they are, you could argue the market's not expensive at all”
Which Companies Bill Ackman Is Bullish and Bearish on Right Now
2026-07-20 MSFT bullish Bill Ackman · video
Microsoft is a high-quality durable compounder trading at a price offering a higher go-forward return than Alphabet, justifying a $2B position shift into it.
“we felt the go-forward return was lower than what could be achieved by redeploying the capital into Microsoft”
Which Companies Bill Ackman Is Bullish and Bearish on Right Now
2026-07-20 UBER bullish Bill Ackman · video
Uber is very cheap because the market fears Tesla robotaxi disruption, but consumers will use Uber's multi-provider platform rather than a single-brand app to get the lowest-cost ride.
“the stock is very cheap today because people believe that the Tesla taxi will disrupt Uber... I think the consumer is going to go to the Uber platform”
Which Companies Bill Ackman Is Bullish and Bearish on Right Now
2026-07-20 AMZN bullish Bill Ackman · video
Amazon has a near-unassailable competitive moat in e-commerce delivery that compounds value over time, making it a cheap durable compounder at current prices.
“who can compete with that? think about great dominant business where the probability of competition is extremely low”
Which Companies Bill Ackman Is Bullish and Bearish on Right Now
2026-07-20 BN bullish Bill Ackman · video
Brookfield earns royalty-like asset management fees across real estate, infrastructure, and energy, and is positioned to benefit from the surge in data center capital deployment.
“as more and more capital is going in to build data centers, that's a field where Brookfield is going to be a very successful participant”
Which Companies Bill Ackman Is Bullish and Bearish on Right Now
2026-06-17 MSFT bullish Bill Ackman · video
Microsoft is down ~40% from highs and is labeled 'old tech' by the market, but Ackman believes it is exceptionally well-positioned for the AI era — creating a compelling valuation entry point
“people think of Microsoft as old tech, but we think they are incredibly well positioned for the AI era”
Bill Ackman: Betting big on tech cash cows after Pershing Square underperformance
2026-06-17 HHH bullish Bill Ackman · video
Ackman is repositioning Howard Hughes as a Berkshire Hathaway-style vehicle — liquidating lower-return real estate assets and redeploying capital into the newly-acquired Vantage specialty insurer, with ambition to compound equity at ~20% per annum by writing…
“that's our ambition — to compound equity the way Berkshire has over time”
Bill Ackman: Betting big on tech cash cows after Pershing Square underperformance
2026-06-17 HTZ bullish Bill Ackman · video
Hertz is a levered bet on rising used-car residual values (boosted by Trump tariffs making new cars less competitive) plus an operational turnaround under new management, with a path to ~$20/share from ~$5-6 and reduced financial risk versus the original ~$3…
“we still think there's significant upside and the financial risk has been reduced dramatically”
Bill Ackman: Betting big on tech cash cows after Pershing Square underperformance
2026-06-17 AMZN bullish Bill Ackman · video
Amazon holds a dominant, near-unassailable position in both online retail (with untapped rural/price runway) and AWS cloud computing (where demand is near-infinite as companies outsource compute), making it one of the most dominant companies in history at a…
“not infinite, but near infinite demand, and the one number one player in that space”
Bill Ackman: Betting big on tech cash cows after Pershing Square underperformance
2026-06-17 META bullish Bill Ackman · video
Meta's growth has dramatically accelerated as an AI beneficiary — advertisers are getting higher returns on ad spend, users are spending more time on Instagram/Facebook/WhatsApp — yet the stock is cheap relative to this trajectory
“the business is doing extremely well, and the stock price is cheap, and the combination makes it an interesting”
Bill Ackman: Betting big on tech cash cows after Pershing Square underperformance
2026-06-03 HHC bullish Bill Ackman · video
Howard Hughes trades at a discount to liquidation value (~60 cents on the dollar) and Ackman is repositioning it from a real estate developer into a Berkshire-style compounding machine by reinvesting cash flows into insurance operations, which should re-rate…
“at $63 a share, you're owning Howard Hughes at a discount to liquidation value”
Bill Ackman: Here's What the Market is MISSING
2026-06-03 MSFT bullish Bill Ackman · video
Microsoft is being left behind by short-term capital chasing AI infrastructure plays, creating a cheap valuation in a high-quality, durable business that is itself deeply embedded in AI
“I think a similar thing is happening today in a sense to Amazon and Meta, Microsoft”
90d +17.5%
Bill Ackman: Here's What the Market is MISSING
2026-06-03 XAI (ELON MUSK) owns Bill Ackman · video
Ackman invested in xAI via an SPV, viewing it as a venture-style bet on a top-tier founder with significant competitive positioning in the AI race where time delay is extremely costly
“I actually invested in XAI. I'm in an SPV”
Bill Ackman: Here's What the Market is MISSING
2026-06-03 META bullish Bill Ackman · video
Meta is being treated as an 'old-fashioned' company by markets rotating into pure-play AI names, depressing its valuation despite being a high-quality, durable business with massive AI integration
“people got excited about internet stocks and Berkshire Hathaway traded at the lowest valuation...a similar thing is happening today”
90d -7.0%
Bill Ackman: Here's What the Market is MISSING
2026-06-03 AMZN bullish Bill Ackman · video
Amazon is being mispriced as legacy by markets chasing AI chip and energy plays, similar to how Berkshire was mispriced during the dot-com bubble, creating an attractive entry point
“some of the best businesses in the world are trading at the lowest multiples”
90d +2.0%
Bill Ackman: Here's What the Market is MISSING
2026-06-03 CRM bearish Bill Ackman · video
Salesforce is at risk from AI disruption because it charges high monopolistic software pricing to customers who could increasingly find AI-native alternatives, making its moat less durable than lower-priced platform businesses
“I worry more about a Salesforce than I do about your kind of...I think those companies are really at risk”
90d -35.8%
Bill Ackman: Here's What the Market is MISSING
2026-05-06 TASE bullish Bill Ackman · video
The Tel Aviv Stock Exchange is a monopolistic royalty on Israeli economic success — Israel's Silicon Valley-like density of tech talent and IP will produce trillion-dollar AI/cybersecurity companies, growing the exchange's listed universe and pricing power…
“owning a piece of a stock exchange is like owning a royalty on the success of capitalism in a country”
VALUExBRK 2026 | Bill Ackman, Mohnish Pabrai, Tom Gayner, Chris Bloomstran & More
2026-05-06 HHH bullish Bill Ackman · video
Howard Hughes Holdings trades at a significant discount to $100+/share of liquidating asset value and is being restructured as a Berkshire-like permanent capital vehicle — excess real-estate cash flows will be redeployed into a newly acquired specialty…
“you can buy it at… $100 a share… we're going to build this into an interesting company over time”
90d +2.4%
VALUExBRK 2026 | Bill Ackman, Mohnish Pabrai, Tom Gayner, Chris Bloomstran & More
2026-05-06 META bullish Bill Ackman · video
Meta is undervalued because the market gives it no credit for its massive data-center capex build-out — unlike hyperscalers reselling compute at 30x earnings, Meta deploys the same capacity internally yet trades as if the investment has zero option value…
“Meta is very cheap… I agree with the basic thesis. I like Meta”
90d -4.0%
VALUExBRK 2026 | Bill Ackman, Mohnish Pabrai, Tom Gayner, Chris Bloomstran & More
2026-04-29 HLT bullish Bill Ackman · video
Hilton is a core Pershing Square holding representing a high-quality, durable growth business that the market has historically underappreciated
“buying Hilton when the market, I would say, underappreciated business”
90d +2.6%
Bill Ackman: This Is a “Great” Time to Invest - Even at Market Highs
2026-04-29 PSUSA bullish Bill Ackman · video
PSUSA offers retail investors access to a concentrated portfolio of high-quality durable growth companies with a 22-year track record of ~19% net compound returns, plus built-in hedging capability and exposure to Pershing Square Inc. as a business, at low cost
“we've generated a 25% return per annum over the same period”
Bill Ackman: This Is a “Great” Time to Invest - Even at Market Highs
2026-04-29 HHH bullish Bill Ackman · video
Howard Hughes is one of three permanent capital vehicles underlying Pershing Square Inc. and is the entity being built into a modern-day Berkshire Hathaway
“the entity that we're building a modern-day Berkshire Hathaway is a company called Howard Hughes”
90d +7.9%
Bill Ackman: This Is a “Great” Time to Invest - Even at Market Highs
2026-04-29 US INTEREST RATES / FED CUTS bearish Bill Ackman · video
Rates are currently too high and resolving geopolitical risks in Iran would allow energy prices to fall, giving the Fed room to cut, which would further boost the economy and markets
“rates are really too high”
Bill Ackman: This Is a “Great” Time to Invest - Even at Market Highs
2026-04-29 CMG bullish Bill Ackman · video
Chipotle is a core Pershing Square holding where active engagement helped solve business problems and drove significant value creation
“Chipotle is a good example”
90d +1.6%
Bill Ackman: This Is a “Great” Time to Invest - Even at Market Highs
2026-04-29 AI INFRASTRUCTURE THEME bullish Bill Ackman · video
Massive AI infrastructure build-out combined with AI as a productivity force for every company creates an enormous economic tailwind that supports equity valuations
“AI itself is this very powerful productivity force”
Bill Ackman: This Is a “Great” Time to Invest - Even at Market Highs
2026-04-29 UNIVERSAL MUSIC GROUP bullish Bill Ackman · video
Universal Music is a core Pershing Square holding representing a super durable growth company selected for concentrated long-term compounding
Bill Ackman: This Is a “Great” Time to Invest - Even at Market Highs
2026-04-29 SPX bullish Bill Ackman · video
Strong economic tailwinds from pro-investment tax policy, AI infrastructure build-out, energy infrastructure, and AI-driven productivity justify current market valuations and support continued upside
“the economy is going to be very strong...second half of the year in particular”
90d +4.4%
Bill Ackman: This Is a “Great” Time to Invest - Even at Market Highs
2026-04-14 PSI bullish Bill Ackman · video
The GP/management company has a 98% permanent capital base, 87%+ fee-related earnings margin, zero exposure to private credit concerns plaguing peers, and growing fee streams from PSUS, PSH, and Howard Hughes, making it cheaper than alternative asset manager…
“our model has none of the drawbacks of things that investors are currently concerned about”
90d +32.9%
Pershing Square CEO Bill Ackman and CIO Ryan Israel on Pershing Square USA and Pershing Square Inc.
2026-04-14 HHH bullish Bill Ackman · video
Howard Hughes trades at a 40-50% discount to underlying real estate NAV and is being transformed into a diversified insurance holding company akin to a modern Berkshire Hathaway, with the Vantage acquisition as the first insurance platform and significant…
“the stock is consistently trading at a very significant discount, 40-50% discount to the value of its underlying real estate assets”
90d +10.3%
Pershing Square CEO Bill Ackman and CIO Ryan Israel on Pershing Square USA and Pershing Square Inc.
2026-04-14 USTS bullish Bill Ackman · video
A planned fund that parks capital in short-term US Treasuries whose interest income funds asymmetric macro hedges, providing principal protection with uncapped upside if tail risks materialize, consistent with Pershing Square's track record of billion-dollar…
“if all the asymmetric bets go to zero, your principal is protected by the Treasuries”
90d -1.6%
Pershing Square CEO Bill Ackman and CIO Ryan Israel on Pershing Square USA and Pershing Square Inc.
2026-04-13 PERSHING SQUARE INC. (GP/MANAGEMENT COMPANY) bullish Bill Ackman · video
PS Inc. is a capital-light, royalty-like management company that grows organically through AUM compounding and step-changes with each new fund launch, while returning nearly all earnings as dividends—combining high growth with high yield unlike typical income…
“a rapidly growing company...doesn't require the reinvestment of capital...we're going to return to shareholders”
Pershing Square USA and Pershing Square Inc.: Bill Ackman in Conversation with Vlad Tenev
2026-04-13 ASYMMETRIC MACRO HEDGES (CREDIT DEFAULT SWAPS / INTEREST RATE OPTIONS) bullish Bill Ackman · video
Periodically buying small-premium asymmetric instruments (CDS, rate swaptions) against identifiable macro tail risks provides convex portfolio protection and generates dry powder to buy equities at distressed prices, as demonstrated in 2008 and 2020
“buy insurance only when you know a storm is coming, and there's no limit on the upside”
Pershing Square USA and Pershing Square Inc.: Bill Ackman in Conversation with Vlad Tenev
2026-04-13 ASYMMETRIC MACRO HEDGES (CREDIT DEFAULT SWAPS / INTEREST RATE SWAPTIONS) bullish Bill Ackman · video
Periodically buying cheap out-of-the-money macro hedges when identifiable black swan risks emerge provides asymmetric payoffs that protect the long portfolio and generate dry powder to buy stocks at distressed prices
“imagine if you could buy insurance that was way more than the value of your home and there was no limit”
Pershing Square USA and Pershing Square Inc.: Bill Ackman in Conversation with Vlad Tenev
2026-04-13 US LARGE/MEGA-CAP EQUITIES bullish Bill Ackman · video
AI infrastructure boom, energy boom, massive infrastructure spending, new tax incentive legislation, and trillions in committed corporate investment create significant tailwinds for US equities in the back half of the year
“I think there are a lot of tailwinds going into the back half of the year”
Pershing Square USA and Pershing Square Inc.: Bill Ackman in Conversation with Vlad Tenev
2026-04-13 SPX bullish Bill Ackman · video
AI infrastructure boom, energy buildout, major infrastructure spending, and the new tax bill with investment incentives create significant tailwinds for economic growth and corporate earnings in the back half of the year
“I think it's actually quite a good time to be deploying capital in the stock market”
90d +9.5%
Pershing Square USA and Pershing Square Inc.: Bill Ackman in Conversation with Vlad Tenev
2026-02-05 GOOGL bullish Bill Ackman · video
Alphabet's dominance in global advertising and Google Cloud positions it as infrastructure-level technology where budget tightening drives advertiser consolidation to the largest platform rather than away from it
“owning infrastructure level businesses that continue to matter when optimism fades”
90d +20.2% · 180d +14.2%
Inside Bill Ackman’s 2026 Recession Portfolio
2026-02-05 HLT bullish Bill Ackman · video
Hilton's franchise-heavy, asset-light model and balance sheet strength allow earnings to compress less violently than pure hospitality operators during downturns, providing structural resilience
“that structure allows earnings to compress less violently when conditions tighten”
90d +4.2% · 180d +1.2%
Inside Bill Ackman’s 2026 Recession Portfolio
2026-02-05 HTZ bullish Bill Ackman · video
Hertz is held as asymmetric recovery optionality, a deliberately small cyclical position designed to benefit if recession fear drives prices below long-term reality and sentiment eventually normalizes
“exposure designed to benefit if fear drives prices too far down and the market eventually snaps back”
90d +31.2% · 180d -69.4%
Inside Bill Ackman’s 2026 Recession Portfolio
2026-02-05 BN bullish Bill Ackman · video
Brookfield's fee base is tied to committed capital rather than market sentiment, giving it revenue persistence through cycles as a system-level real-asset owner
“built to function while the cycle grinds through uncertainty”
90d +5.0% · 180d +1.0%
Inside Bill Ackman’s 2026 Recession Portfolio
2026-02-05 CMG bullish Bill Ackman · video
Chipotle's portfolio weight declined due to sizing discipline after strong performance, not deteriorating fundamentals, with unchanged share count signaling continued conviction in the underlying business
“the adjustment wasn't about deteriorating fundamentals. It was about sizing discipline after a strong performance”
90d -14.9% · 180d -12.0%
Inside Bill Ackman’s 2026 Recession Portfolio
2026-02-05 QSR bullish Bill Ackman · video
Quick-service restaurant brands like Burger King and Tim Hortons benefit from consumer trade-down during recessions as spending redirects toward value and habitual consumption rather than disappearing
“recessions don't eliminate spending, they redirect it”
90d +10.6% · 180d +6.6%
Inside Bill Ackman’s 2026 Recession Portfolio
2026-02-05 UBER bullish Bill Ackman · video
Uber is a fee-based transaction platform that earns on activity rather than optimism, and scale advantages compound during downturns as weaker competitors retreat
“Uber continues to earn on transactions, not optimism”
90d +5.3% · 180d -4.3%
Inside Bill Ackman’s 2026 Recession Portfolio
2026-02-05 HHH bullish Bill Ackman · video
Pershing Square is actively transforming Howard Hughes from an asset-heavy real estate company into a long-duration compounding platform akin to early Berkshire Hathaway, making it a structural bet rather than a property cycle trade
“transforming an asset heavy business into a longduration compounding platform, closer in spirit to how Berkshire Hathaway evolved”
90d -19.9% · 180d -18.0%
Inside Bill Ackman’s 2026 Recession Portfolio
2025-11-30 HIGHLY LEVERAGED COMPANIES bearish Bill Ackman · video
Debt manageable at zero interest rates becomes burdensome at 5% rates, and companies refinancing at higher rates will see earnings compressed with some facing genuine solvency risk
“Debt that was manageable at zero interest rates becomes burdensome at 5% rates”
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-30 PUT OPTIONS ON EQUITY INDEXES bullish Bill Ackman · video
Index put options provide asymmetric tail-risk protection that costs little if markets rise but pays significantly during a market crash, analogous to the 2020 credit default swap hedge that turned $27M into $2.6B
“Put options on indexes can provide portfolio protection”
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-30 USTS bullish Bill Ackman · video
T-bills currently yield over 4%, making the opportunity cost of holding cash low while preserving optionality to deploy when dislocations arise — Pershing Square holds ~1/3 of portfolio in cash and T-bills
“Treasury bills currently yield over 4%. This is not the zero return of previous years.”
90d +1.4% · 180d -0.5%
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-30 MAGNIFICENT 7 / MEGA-CAP TECH CONCENTRATION bearish Bill Ackman · video
The Magnificent 7 trade at valuations assuming successful AI navigation, represent over 35% of the S&P 500 creating systemic concentration risk, and any disappointment could trigger substantial broad market declines
“The Magnificent 7 trade at valuations that assume successful navigation of AI disruption. Any disappointment could trigger substantial declines”
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-30 QSR bullish Bill Ackman · video
Restaurant Brands' franchise model collects royalties without bearing operating costs, producing remarkably stable cash flows, and recessions drive trading-down behavior that benefits quick-service restaurant brands
“People eat fast food in good times and bad. The franchise model means the company collects royalties without bearing operating costs.”
90d +1.2% · 180d +5.9%
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-30 GOOGL owns Bill Ackman · video
Alphabet has the scale and resources to successfully integrate AI into its core products, justifying ownership despite broader tech valuation concerns, sized appropriately for the disruption risk
“Our investment in Alphabet reflects belief that the company can successfully integrate AI into its products.”
90d -2.6% · 180d +21.0%
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-30 GOLD bullish Bill Ackman · video
Gold acts as a natural hedge that rises during market stress, providing portfolio protection in scenarios that devastate equity holdings without requiring active management
“Gold and treasury bonds provide natural hedges during market stress.”
90d +25.7% · 180d +7.0%
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-30 UBER owns Bill Ackman · video
Uber's network effects create durable competitive advantages regardless of economic cycle, and recessions may accelerate adoption as consumers trade down from car ownership and full-service dining
“Uber is my largest holding because the business model is extraordinarily resilient.”
90d -12.3% · 180d -18.7%
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-30 JAPANESE TRADING COMPANIES (ITOCHU, MARUBENI, MITSUBISHI, MITSUI, SUMITOMO) owns Bill Ackman · video
Yen-denominated debt finances positions in Japanese trading companies, creating a natural currency hedge while providing geographic diversification away from concentrated USD/US equity exposure and exposure to Asian economies
“We finance these positions by issuing yen denominated debt. The currency exposure is naturally hedged”
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-30 AMZN owns Bill Ackman · video
Amazon can successfully navigate AI disruption and integrate AI into its businesses, and is held as a technology position sized appropriately relative to the risks involved
“Our investment in Amazon reflects similar confidence, but these positions are sized appropriately for the risks”
90d -10.9% · 180d +15.7%
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-30 BROOKFIELD ASSET MANAGEMENT / INFRASTRUCTURE bullish Bill Ackman · video
Brookfield owns essential infrastructure (toll roads, power plants, data centers, pipelines) generating stable cash flows through economic cycles, with an asset management fee business and insurance operations that benefit from higher rates providing multiple…
“Brookfield owns essential infrastructure that economies require regardless of conditions”
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-30 INDEX PUT OPTIONS bullish Bill Ackman · video
Put options on equity indexes provide asymmetric tail-risk hedges that cost little if wrong but pay enormously during market crashes, replicating the logic of the $27M→$2.6B CDS trade in March 2020
“You want positions that cost little if you are wrong but pay enormously if you are right.”
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-30 BN bullish Bill Ackman · video
Brookfield owns essential infrastructure (toll roads, power plants, data centers, pipelines) that generates stable cash flows through economic cycles, with asset management fees and insurance businesses benefiting from higher rates providing multiple return…
“The company owns essential infrastructure that economies require regardless of conditions.”
90d -5.1% · 180d -1.5%
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-30 long JAPANESE TRADING COMPANIES — ITOCHU, MARUBENI, MITSUBISHI CORP, MITSUI, SUMITOMO / short JPY-DENOMINATED DEBT hedge Bill Ackman · video
Long Japanese sogo shosha financed with yen-denominated debt creates naturally currency-hedged exposure to Asian economies and global commodity-linked businesses outside the direct US-China conflict zone, collecting dividends in yen and paying interest in yen
“We finance these positions by issuing yen denominated debt. The currency exposure is naturally hedged.”
Bill Ackman: If I Had to Protect My Wealth Before 2026, Here's How I'd Do It
2025-11-29 AAPL bearish Bill Ackman · video
Apple trades at 30x earnings despite stalled iPhone growth, an unclear AI strategy relative to competitors, and significant China geopolitical/revenue risk that is not reflected in the valuation.
“iPhone growth is stalled. Services revenue while growing cannot offset the deceleration in hardware.”
90d +6.6% · 180d -10.6%
Bill Ackman: Why I'm Betting Against the Magnificent Seven in 2026
2025-11-29 CASH bullish Bill Ackman · video
Maintaining elevated cash positions provides optionality to deploy capital when stretched valuations in the Magnificent 7 and broader market eventually correct, giving an advantage to act when others are forced to sell.
“The ability to act when others are panicking is one of the most valuable advantages an investor can have.”
90d +0.9% · 180d +1.8%
Bill Ackman: Why I'm Betting Against the Magnificent Seven in 2026
2025-11-29 GOOGL bearish Bill Ackman · video
Alphabet faces existential risk to its search-based ad business from AI chatbots and antitrust regulatory action; Ackman previously owned it believing concerns were overblown but now believes the risk-reward has shifted unfavorably at current prices.
“at current prices, even successful adaptation may not justify the valuation. The risk-reward has shifted.”
90d +0.9% · 180d -24.1%
Bill Ackman: Why I'm Betting Against the Magnificent Seven in 2026

Showing the 60 most recent of 115 tracked stances.

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