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Bill Ackman's Portfolio
Performance
Return for Risk
Dividends
Drawdowns
Volatility
Diversification

Asset Allocation


S&P 500 Index

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Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Bill Ackman's Portfolio, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.


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Returns By Period


Position1D1M6MYTD1Y3Y*5Y*10Y*
Benchmark
S&P 500 Index
0.42%1.94%8.74%10.66%21.02%19.50%11.63%13.41%
Portfolio
Bill Ackman's Portfolio
0.90%3.81%-1.80%1.91%10.25%24.79%12.97%
AMZN
Amazon.com, Inc
-0.69%2.85%-0.82%6.29%9.03%23.97%5.70%20.69%
BN
Brookfield Corporation
1.49%-3.12%-7.94%-4.39%4.48%27.36%10.51%14.77%
GOOG
Alphabet Inc
-0.34%-0.87%8.01%13.29%96.37%44.91%22.55%25.82%
HHH
Howard Hughes Corporation
0.01%7.76%-12.78%-9.68%2.14%-2.28%-4.57%-4.24%
HLT
Hilton Worldwide Holdings Inc.
-0.64%-3.03%11.80%16.90%21.22%30.50%21.95%46.75%
META
Meta Platforms, Inc.
5.97%18.14%2.66%1.56%-6.43%31.29%14.01%19.06%
QSR
Restaurant Brands International Inc.
0.43%1.47%11.04%12.29%15.90%3.40%6.86%9.54%
UBER
Uber Technologies, Inc.
0.26%8.26%-12.76%-8.77%-21.86%18.89%8.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since May 10, 2019, Bill Ackman's Portfolio's average daily return is +0.07%, while the average monthly return is +1.49%. At this rate, an investment would double in approximately 3.9 years.

Historically, 60% of months were positive and 40% were negative. The best month was Nov 2020 with a return of +21.2%, while the worst month was Mar 2020 at -20.4%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 3 months.

On a daily basis, Bill Ackman's Portfolio closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +11.3%, while the worst single day was Mar 16, 2020 at -12.9%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20262.17%-5.77%-5.41%12.56%-0.79%-3.84%4.20%1.91%
20256.86%-1.01%-7.64%0.56%8.38%6.06%3.31%1.94%3.58%1.85%2.74%-3.36%24.59%
20242.07%9.73%0.97%-5.99%2.18%5.05%0.46%3.65%4.60%-0.95%6.31%-3.44%26.38%
202317.78%-1.28%4.47%2.04%7.42%8.27%7.19%-3.05%-4.26%-3.13%14.78%9.52%74.67%
2022-8.29%-3.99%3.78%-11.26%-8.79%-12.06%11.26%2.31%-11.21%-2.48%11.78%-9.60%-35.22%
2021-1.51%4.66%5.25%7.64%-0.54%0.58%-0.06%0.07%-2.03%2.82%-4.74%7.08%20.03%

Benchmark Metrics

Bill Ackman's Portfolio has an annualized alpha of 0.68%, beta of 1.16, and R2 of 0.74 versus S&P 500 Index. Calculated based on daily prices since May 10, 2019.

  • This portfolio captured 123.88% of S&P 500 Index gains and 117.17% of its losses - amplifying both gains and losses, but participating more in upside than downside.

Alpha
0.68%
Beta
1.16
0.74
Upside Capture
123.88%
Downside Capture
117.17%

Expense Ratio

Bill Ackman's Portfolio has an expense ratio of 0.00%, meaning no management fees are charged. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.


The portfolio doesn't include any funds that charge management fees.

Return for Risk

Risk / Return Rank

Bill Ackman's Portfolio ranks 10 for risk / return — in the bottom 10% of Portfolios on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.


Bill Ackman's Portfolio Risk / Return Rank: 1010
Overall Rank
Bill Ackman's Portfolio Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
Bill Ackman's Portfolio Sortino Ratio Rank: 1010
Sortino Ratio Rank
Bill Ackman's Portfolio Omega Ratio Rank: 99
Omega Ratio Rank
Bill Ackman's Portfolio Calmar Ratio Rank: 99
Calmar Ratio Rank
Bill Ackman's Portfolio Martin Ratio Rank: 1010
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below presents risk-adjusted performance metrics for Bill Ackman's Portfolio and compares them with S&P 500 Index.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.


PortfolioBenchmarkDifference
Sharpe ratioReturn per unit of total volatility

0.55

1.65

-1.10

Sortino ratioReturn per unit of downside risk

0.89

2.28

-1.39

Omega ratioGain probability vs. loss probability

1.10

1.30

-0.20

Calmar ratioReturn relative to maximum drawdown

0.62

2.28

-1.66

Martin ratioReturn relative to average drawdown

2.03

9.88

-7.86


How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.

PositionRisk / Return RankSharpe ratioSortino ratioOmega ratioCalmar ratioMartin ratio
AMZN
Amazon.com, Inc
55
0.340.681.080.481.06
BN
Brookfield Corporation
47
0.110.361.040.140.37
GOOG
Alphabet Inc
96
3.394.671.564.8115.22
HHH
Howard Hughes Corporation
45
0.040.281.040.040.08
HLT
Hilton Worldwide Holdings Inc.
74
0.931.481.172.074.71
META
Meta Platforms, Inc.
36
-0.20-0.031.00-0.23-0.44
QSR
Restaurant Brands International Inc.
64
0.641.031.131.152.35
UBER
Uber Technologies, Inc.
16
-0.68-0.850.90-0.72-1.18

Sharpe Ratio

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk. Learn how to interpret the Sharpe ratio.

The current Bill Ackman's Portfolio Sharpe ratio is 0.55 as of Jul 13, 2026 (the value is recalculated daily), calculated over the past 12 months.

Compared to the broad market, where average Sharpe ratios range from 1.37 to 2.13, this portfolio's current Sharpe ratio places it in the bottom 25%. This suggests weaker risk-adjusted returns than most portfolios, possibly due to lower returns, higher volatility, or both. It may be worth reviewing the allocation. You can use the Portfolio Optimization tool to explore options for improving the Sharpe ratio.

The chart below shows the rolling Sharpe ratio of Bill Ackman's Portfolio compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.


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Dividends

Dividend yield

Bill Ackman's Portfolio provided a 0.52% dividend yield over the last twelve months.


PositionTTM20252024202320222021202020192018201720162015
Portfolio0.52%0.54%0.55%0.43%0.61%0.55%0.63%0.55%0.68%2.24%0.48%0.43%
AMZN
Amazon.com, Inc
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
BN
Brookfield Corporation
0.59%0.52%0.56%0.70%1.44%1.12%1.55%1.11%1.56%1.29%1.58%1.50%
GOOG
Alphabet Inc
0.24%0.26%0.32%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
HHH
Howard Hughes Corporation
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
HLT
Hilton Worldwide Holdings Inc.
0.18%0.21%0.24%0.33%0.36%0.00%0.13%0.54%0.84%31.40%1.03%0.65%
META
Meta Platforms, Inc.
0.31%0.32%0.34%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
QSR
Restaurant Brands International Inc.
3.37%3.63%3.56%2.82%3.34%3.49%3.40%3.14%3.44%1.27%1.30%1.18%
UBER
Uber Technologies, Inc.
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


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Worst Drawdowns

The table below displays the maximum drawdowns of the Bill Ackman's Portfolio. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Bill Ackman's Portfolio was 43.36%, occurring on Mar 18, 2020. Recovery took 162 trading sessions.

The current Bill Ackman's Portfolio drawdown is 3.02%.


Related event

Drawdown

Fall

Recovery

Underwater

COVID crash2020
-43.36%Mar 2020
27d7mo 22d
8mo 19dFeb 2020 - Nov 2020
Bear market2022
-39.32%Nov 2022
12mo1y 17d
2y 12dNov 2021 - Nov 2023
2025 selloff2025
-22.18%Apr 2025
1mo 18d2mo 19d
4mo 7dFeb 2025 - Jun 2025
2026 correction2026
-15.96%Mar 2026
3mo 19d1mo 10d
4mo 29dDec 2025 - May 2026
2024 correction2024
-12.20%Aug 2024
19d1mo 15d
2mo 4dJul 2024 - Sep 2024

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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Diversification

AI Analysis


The gist

The portfolio is a barbell of digital platform names, consumer cyclicals, and a small real-estate/financial sleeve, so the real bet is on a fairly broad pro-growth regime rather than on one single industry. The correlations are low enough that the math is not embarrassed by the thesis.

The numbers

  • The diversification ratio is 1.68 over 1Y, 1.48 over 3Y, 1.38 over 5Y, and 1.39 since inception, all around the 67th-79th percentile on the platform.
  • Effective asset count is 7.24 of 8, which means the weights are spread well enough that concentration is not the main story.
  • Mean pairwise correlation is 0.41; the tighter pocket is Alphabet (GOOG), Amazon (AMZN), and Meta (META), with 0.62-0.65 correlations.

The good

  • The portfolio has genuine cross-sector separation: QSR, HHH, and BN do not mostly move like the META-AMZN-GOOG cluster, which helps the DR stay comfortably above the “nothing much is happening” zone.
  • Uber (UBER) sits close to its own cluster, so one name is not simply duplicating the rest of the basket.
  • To be fair, the lower-correlation pairs involving QSR give the portfolio some internal shock absorbers.

The bad

  • The largest common factor is still growth and risk appetite; AMZN, GOOG, META, and UBER all carry high portfolio correlations around 0.69-0.74.
  • BN and HHH are not a true separate engine so much as a correlated financial/real-estate sleeve, with 0.56 correlation between them.

The ugly

  • A broad de-rating of long-duration growth, especially if ad spending, e-commerce margins, and platform multiple compression happen together, would make the apparent sector diversity feel more like a single trade in different costumes.

Next steps

  • Portfolios with this correlation profile are usually helped by exposures whose earnings drivers sit outside consumer internet and travel demand.
  • The 1Y DR materially above the 5Y figure suggests recent diversification has improved, which is a useful sign, though not a guarantee of serenity.
  • The cluster map says the portfolio is more diversified across names than across macro outcomes, which is often how these things end up behaving.
AI-generated analysis. Not investment advice. Verify key facts independently.
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Diversification Metrics


Number of Effective Assets

The portfolio contains 8 assets, with an effective number of assets of 7.24, reflecting the diversification based on asset allocation. Your capital is spread almost evenly across your holdings, indicating a well-balanced allocation. Note that true diversification also depends on the correlations between assets — check the diversification ratio below.


Diversification Ratio
1Y
3Y
5Y
All Time
Diversification Ratio

1.68

1.48

1.38

1.39

The portfolio has a diversification ratio of 1.39, in line with the typical range across portfolios. There's room to improve by adding less correlated assets.

Bill Ackman's Portfolio correlation to the S&P 500 Index

Bill Ackman's Portfolio has a 0.74 correlation to S&P 500 Index over the trailing 12 months. This section compares each holding's correlation to the benchmark and to the portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.74

Correlation (3Y)
Calculated over the trailing 3-year period

0.80

Correlation (5Y)
Calculated over the trailing 5-year period

0.83

Correlation (All Time)
Calculated using the full available price history since May 10, 2019

0.83


Benchmark Correlations

Correlation vs. S&P 500 Index. BN has the highest benchmark correlation at 0.71, while QSR has the lowest at 0.42.

QSR
0.42
UBER
0.49
HHH
0.55
HLT
0.58
META
0.64
AMZN
0.66
GOOG
0.70
BN
0.71

Portfolio Correlations

Correlation vs. Bill Ackman's Portfolio. UBER has the highest portfolio correlation at 0.74, while QSR has the lowest at 0.50.

QSR
0.50
HHH
0.61
HLT
0.61
META
0.69
GOOG
0.70
AMZN
0.71
BN
0.72
UBER
0.74

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.

The correlation results are calculated based on daily price changes starting from May 10, 2019
Diversification Analysis

Find what Bill Ackman's Portfolio is missing

See which holdings overlap, where Bill Ackman's Portfolio is concentrated, and which low-correlation assets could fill the gaps.

Analyze Diversification