Bill Ackman's Portfolio

Asset Allocation

Position	Category/Sector	Target Weight
UBER Uber Technologies, Inc.	Technology	19%
BN Brookfield Corporation	Financial Services	18%
AMZN Amazon.com, Inc	Consumer Cyclical	14%
GOOG Alphabet Inc	Communication Services	12%
META Meta Platforms, Inc.	Communication Services	11%
HHH Howard Hughes Corporation	Real Estate	10%
QSR Restaurant Brands International Inc.	Consumer Cyclical	10%
HLT Hilton Worldwide Holdings Inc.	Consumer Cyclical	6%

Benchmark: S&P 500 Index · Rebalance: Every 3 months

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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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Benchmark

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Returns By Period

Position	1D	1M	6M	YTD	1Y	3Y*	5Y*	10Y*	ALL TIME*
Benchmark S&P 500 Index	0.70%	0.09%	7.94%	9.41%	20.07%	17.84%	11.25%	13.26%	8.09%
Portfolio Bill Ackman's Portfolio	3.37%	-2.04%	-3.87%	-1.79%	7.72%	21.16%	12.46%	—	15.61%
Portfolio components:
AMZN Amazon.com, Inc	15.32%	11.91%	13.49%	17.66%	26.46%	27.29%	10.30%	21.72%	30.20%
BN Brookfield Corporation	1.19%	-2.07%	-6.32%	-7.01%	-1.76%	23.70%	8.77%	14.82%	9.05%
GOOG Alphabet Inc	6.88%	0.13%	5.49%	13.80%	88.30%	39.73%	21.62%	25.03%	22.84%
HHH Howard Hughes Corporation	-1.46%	-13.87%	-21.72%	-19.87%	-5.50%	-7.55%	-6.27%	-5.55%	5.03%
HLT Hilton Worldwide Holdings Inc.	-0.48%	-5.21%	7.46%	11.68%	23.12%	27.85%	19.83%	46.64%	36.29%
META Meta Platforms, Inc.	3.28%	-4.49%	-22.16%	-15.51%	-25.53%	20.28%	9.53%	16.39%	20.02%
QSR Restaurant Brands International Inc.	-0.43%	3.58%	12.49%	10.44%	13.12%	2.88%	5.27%	8.56%	9.50%
UBER Uber Technologies, Inc.	-0.01%	-5.47%	-12.10%	-13.89%	-19.04%	14.68%	10.12%	—	7.40%

*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 +1.44%. At this rate, an investment would double in approximately 4.0 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 52% 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%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	2.17%	-5.77%	-5.41%	12.56%	-0.79%	-3.84%	0.42%						-1.79%
2025	6.86%	-1.01%	-7.64%	0.56%	8.38%	6.06%	3.31%	1.94%	3.58%	1.85%	2.74%	-3.36%	24.59%
2024	2.07%	9.73%	0.97%	-5.99%	2.18%	5.05%	0.46%	3.65%	4.60%	-0.95%	6.31%	-3.44%	26.38%
2023	17.78%	-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 0.38%, 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 122.14% of S&P 500 Index gains and 117.00% of its losses - amplifying both gains and losses, but participating more in upside than downside.

Alpha: 0.38%

Beta: 1.16

R²: 0.74

Upside Capture: 122.14%

Downside Capture: 117.00%

See how alpha, beta & R² have trended over time →

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 7 for risk / return — above 7% of Portfolios peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.

Overall Rank

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

Martin Ratio Rank

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

Risk / Return 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.

	Portfolio	Benchmark	Difference
Sharpe ratioReturn per unit of total volatility	0.26	1.42	-1.16
Sortino ratioReturn per unit of downside risk	0.50	1.98	-1.47
Omega ratioGain probability vs. loss probability	1.06	1.25	-0.20
Calmar ratioReturn relative to maximum drawdown	0.31	2.00	-1.70
Martin ratioReturn relative to average drawdown	0.95	8.49	-7.54

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

Position	Risk / Return Rank	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
AMZN Amazon.com, Inc	59	0.46	0.94	1.11	0.74	1.58
BN Brookfield Corporation	35	-0.15	-0.02	1.00	-0.20	-0.47
GOOG Alphabet Inc	94	2.71	3.75	1.46	4.14	11.53
HHH Howard Hughes Corporation	33	-0.24	-0.14	0.98	-0.22	-0.38
HLT Hilton Worldwide Holdings Inc.	72	0.86	1.37	1.16	1.93	4.25
META Meta Platforms, Inc.	11	-0.73	-0.91	0.89	-0.84	-1.52
QSR Restaurant Brands International Inc.	62	0.55	0.90	1.11	1.06	2.19
UBER Uber Technologies, Inc.	20	-0.58	-0.68	0.92	-0.58	-0.97

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 0.26 as of Aug 2, 2026 (the value is recalculated daily), calculated over the past 12 months.

Compared to the broad market, where average Sharpe ratios range from 1.18 to 2.00, 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 0.53% dividend yield over the last twelve months.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	0.53%	0.54%	0.55%	0.43%	0.61%	0.55%	0.63%	0.55%	0.68%	2.24%	0.48%	0.43%
Portfolio components:
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	0.61%	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.	0.19%	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.	0.38%	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.	3.43%	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 6.53%.

Drawdown	Fall	Recovery	Underwater	Related event
-43.36%Mar 2020	27d	7mo 22d	8mo 19dFeb 2020 - Nov 2020	COVID crash2020
-39.32%Nov 2022	12mo	1y 17d	2y 12dNov 2021 - Nov 2023	Bear market2022
-22.18%Apr 2025	1mo 18d	2mo 19d	4mo 7dFeb 2025 - Jun 2025	2025 selloff2025
-15.96%Mar 2026	3mo 19d	1mo 10d	4mo 29dDec 2025 - May 2026	—
-12.20%Aug 2024	19d	1mo 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 fairly clean bet on consumer internet, travel, payments, and a little real estate, with a separate commercial relationship between Brookfield (BN) and HHH that sits somewhat apart. In some sense, it is diversified for an eight-position growth portfolio, but the core still moves in a few familiar lanes.

The numbers

Diversification ratio is 1.66 at 1Y, 1.49 at 3Y, 1.39 at 5Y, and 1.40 since inception; that puts the portfolio in the 77.7th, 73.7th, 69.0th, and 66.8th percentiles, respectively.
Effective asset count is 7.24 of 8, which says the weights are spread rather than theatrically concentrated.
Average pairwise correlation is 0.41, but META, AMZN, and GOOG sit in a tighter sub-cluster at 0.62-0.65.

The good

The portfolio has genuine spread across sectors: Communication Services, Consumer Cyclical, Real Estate, Financial Services, and Technology do not all share the same earnings calendar.
QSR is the odd one out in a useful way, with low correlation to AMZN (0.22), META (0.24), and GOOG (0.27).
Position weights are large enough to matter, but not so large that one name dominates the correlation structure.

The bad

META, Amazon (AMZN), and Alphabet (GOOG) form the portfolio’s main engine, and that engine is not especially mysterious: digital advertising, cloud, and consumer spending.
Uber (UBER) and BN each have high portfolio correlations at 0.74 and 0.72, so they are less diversifying than their different labels suggest.
The portfolio’s diversification is better than average, but only moderately so; the correlation map still has a recognizable growth tilt.

The ugly

If online ad demand, cloud spending, and consumer discretionary activity weaken together, the META-AMZN-GOOG cluster can stop looking like three positions and start looking like one theme.
The portfolio’s lower-correlation names do not obviously hedge a broad growth drawdown; they mostly change the path, which is not quite the same thing.

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	1.66	1.49	1.39	1.40

The portfolio has a diversification ratio of 1.40, in line with the typical range across portfolios.

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

Bill Ackman's Portfolio has a 0.73 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) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
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.

0.42

0.48

0.55

0.58

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

Asset Correlations Table

See how each holding historically moved in relation to the other holdings, the portfolio, and the selected benchmark.

	QSR	UBER	HHH	HLT	META	AMZN	GOOG	BN
QSR	1.00	0.31	0.40	0.41	0.24	0.22	0.27	0.41
UBER	0.31	1.00	0.35	0.41	0.40	0.41	0.38	0.38
HHH	0.40	0.35	1.00	0.48	0.31	0.29	0.34	0.56
HLT	0.41	0.41	0.48	1.00	0.36	0.36	0.37	0.53
META	0.24	0.40	0.31	0.36	1.00	0.63	0.62	0.42
AMZN	0.22	0.41	0.29	0.36	0.63	1.00	0.65	0.41
GOOG	0.27	0.38	0.34	0.37	0.62	0.65	1.00	0.46
BN	0.41	0.38	0.56	0.53	0.42	0.41	0.46	1.00

Based on daily historical returns since 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.

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