CEO & Founder, Pershing Square
Search every verified Bill Ackman interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Bill Ackman, CEO of Pershing Square Capital Management, has been active in several media appearances in mid-2026 discussing his investment strategy, market views, and the recent IPO of Pershing Square USA, a closed-end investment company listed on the New York Stock Exchange. Ackman described the IPO as the largest closed-end IPO ever but expressed disappointment with its trading price. He stated that his firm's strategy is to construct a concentrated portfolio of durable growth companies and that he would have returned outside capital sooner to focus on a permanent capital structure, which he called a "huge advantage" for long-term investing. Ackman said he is bullish on large technology companies including Meta, Microsoft, and Amazon, which he described as being perceived as "old-fashioned" by the market and therefore trading at attractive valuations. He expressed skepticism about the business models of some frontier AI model companies, stating he worries about "the Open AIs of the world" due to competition from open-source models. On geopolitical risks, Ackman said he believes the Iran conflict is "weeks as opposed to many months away from resolution" and that its resolution would lead to a "massive peace dividend." He also said the biggest risk to markets is the presence of "very levered players" vulnerable to an extrinsic shock.
“I think the biggest risk to markets is that there are a lot of very levered players in the market and we're at risk to some kind of extrinsic shock and that stocks to go down a lot.”
“I think the big story is really AI. AI is driving an enormous amount of entrepreneurship. It's giving access to you know intelligence to a very broad group of people you know at very low cost. You know Google is basically free and all then you have this massive infrastructure build in connection with AI. So you have yo...”
“I think people, it's never a comfortable feeling to be in the middle of a war, right? So the, you know, we have the Iran situation. We have the questions about the impact on energy prices, inflation, what the impact will be on the Federal Reserve. All these things are really related to the outcome of this war. I think...”
“I would have returned the outside money sooner and just focused on managing a permanent capital structure. It's a huge advantage in investing to have capital that can't leave so that you can be aggressive when the markets are collapsing. And you don't need to be focused on capital flows. You can focus on purely on inve...”
“I've always had the view that why not own the best 10 or 11 investments as opposed to ideas 12 through 25. Or 12 through 100, which is more typical. And there are very few great investments at any one time. So the ability to concentrate is an enormously valuable asset of a strategy.”
“I think we've done very well relative to any index alternative. I think this is a strategy that over time should earn a meaningful premium over any kind of benchmark. Or you shouldn't give us your money.”
“Meta is an old-fashioned company today. Microsoft is an old-fashioned company today and therefore they're less interesting. But that's not where the excitement is. The result of that is, you know, those stocks are very cheap.”
“I've always thought that the standard for someone making an investment should not be how much capital they have. Um but if you want to have a standard that's based on a you know, a certain level of investment experience, you know, the the test today is really generally based on net worth. I think you should be able to...”
“Our business model really requires long-term money. And the traditional hedge fund model where people commit capital for a couple of years, they can redeem certain amount each quarter, is fine for a trading strategy. But when you're a long-term investor, you buy big stakes in companies, you join boards of directors, yo...”
“I think I've always thought that the standard for someone making an investment should not be how much capital they have, um but if you want to have a standard that's based on a you know, a certain level of investment experience, you know, the the test today is really generally based on net worth. I think you should be...”
“Fundamentally we're value investors but not by maybe a conventional measure. How some people think of value investors. Some people think of value investors if people only buy low PE stocks or stocks trading discount to book value things like this. Value is the you know what's value of financial assets the present value...”
“Herz got on the radar actually uh at a time we were looking how do we hedge the risk of Trump putting tariffs in place. This is pre the liberation day tariffs and you know what company would be a beneficiary of tariffs and Hertz kind of came across our uh came into view.”
“You look at Amazon, Meta, uh you know, these are Microsoft businesses we've admired for for many many years, but kind of never got to a price that we found them compelling. Uh now each of them are at prices we find compelling. And I think that it's a bit you know the the excitement of SpaceX uh if you will and and what...”
“We're taking a very much higher quality business than a textile operation the real estate company that it that sort of selfquidates over time. It's a while there are some kind of incomeroucing assets the bulk of the assets are land you kind of residential land lots that are sold to home builders condominiums that are s...”
“We've massively outperformed uh the S&P. Uh there are certainly short periods of time where we've underperformed and a big part of our underperformance and the uh well again putting putting aside the translation u uh to pound terms you know we've underperformed this year and that's uh you know the markets are up S&P's...”
Bill Ackman built one of the most closely watched hedge funds on Wall Street; when he speaks, markets move. Literally. Today, he ...
Bill Ackman joins Ariel Whitman for a wide-ranging conversation on investing, artificial intelligence, Israel, Iran, Charlie Kirk, ...
Billionaire hedge fund manager Bill Ackman sits down with Forbes’ Maneet Ahuja to break down his latest multibillion-dollar IPO, his strategy for transforming Howard Hughes Holdings into a modern-day Berkshire Hathaway, and why he’s doubling down on big tech amid the AI revolution. Ackman also shares his candid thoughts on the future of the music industry, his personal go-to AI tools and the hardest lessons he’s learned about investment conviction. 00:00 Introducing Bill Ackman 03:41 The "Baby Berkshire" Playbook 08:12 Why Big Tech is the Safest Play in the AI Revolution 10:32 Universal Music…
Bill Ackman explains why concentrated investing and owning fewer stocks can generate superior long-term returns. Learn why a ...
Creativity, Permanent Capital, and Howard Hughes Why creativity in investing means doing things that haven't been done before, and how Howard Hughes is being built into a "mini-Berkshire." See the full stream of the event here: https://youtube.com/live/V3V7bqLGP9o
Not long after Pershing Square’s IPO in New York, we caught up with Bill Ackman to discuss his latest deals, what he thinks of SpaceX, the tech sector, valuations and the latest hot stocks. 00:00 A brief overview of Pershing Square’s investment strategy and current portfolio 00:51 The Pershing Square New York IPO 02:34 Out of all the great tech stocks, why did you invest in Microsoft? 05:09 Why don’t you invest in other big tech names like Nvidia, Apple and Tesla? 06:32 AI valuations, overspending on AI and how massive investment is being funded 08:16 What about Micron Technology and other ‘…
In this exclusive episode of [Global Money Talk X NYSE], we sit down with Bill Ackman, CEO of Pershing Square, at the All-In Liquidity Summit. He breaks down the realities of today's bifurcated market, explaining why tech giants like Meta and Microsoft are being labeled "old-fashioned" and where he finds massive value and long-term opportunities in today's landscape. ✅ Subscribe to Global Money Talk for more exclusive interviews with the world's leading financial minds. 🤝 For collaboration inquiries or any questions, please contact us at the email address below. 👉 E-mail : [email protected]…
Pershing Square CEO Bill Ackman joins Ashley Mastronardi on NYSE Live to discuss his strategy behind NYSE stocks.
AJ Bell's Head of Markets, Dan Coatsworth, sits down with Bill Ackman, CEO of Pershing Square, for a wide‑ranging conversation on investing, big bets, and lessons learned. Ackman shares his investment philosophy, reflects on the Hertz turnaround, and explains why he's doubling down on mega‑cap tech giants like Amazon, Meta and Microsoft. He also discusses his ambitious plan to build a Berkshire Hathaway‑style powerhouse with Howard Hughes, plus the frustrations of missing out on the Universal Music takeover bid. Despite underperforming a simple US tracker fund over one, three and five years,…
Bill Ackman believes that even as the stock market continues to hit new highs in 2026, attractive investment opportunities still exist. While many investors are focused on AI stocks, semiconductor companies, and the latest technology trends, Ackman argues that several high-quality businesses are trading at reasonable valuations. He suggests that market enthusiasm for artificial intelligence may be causing investors to overlook other strong companies with solid fundamentals and long-term growth potential. This investment approach is similar to strategies used by legendary investors who avoided…
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