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% |
Find the right asset allocation for Bill Ackman's Portfolio
Add portfolio to the optimizer to find optimal allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio OptimizerPerformance
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.
Loading charts...
Returns By Period
| Position | 1D | 1M | YTD | 6M | 1Y | 3Y* | 5Y* | 10Y* |
|---|---|---|---|---|---|---|---|---|
Benchmark S&P 500 Index | 0.00% | -0.71% | 8.39% | 8.57% | 24.33% | 18.94% | 12.24% | 13.54% |
Portfolio Bill Ackman's Portfolio | 0.83% | -2.04% | -0.66% | 0.39% | 15.93% | 24.20% | 12.93% | — |
| Portfolio components: | ||||||||
AMZN Amazon.com, Inc | 2.90% | -8.23% | 5.88% | 7.50% | 16.55% | 24.88% | 6.99% | 21.21% |
BN Brookfield Corporation | -0.67% | -1.90% | -2.84% | -1.53% | 13.83% | 26.58% | 12.09% | 15.24% |
GOOG Alphabet Inc | 1.48% | -3.08% | 17.25% | 19.22% | 119.70% | 44.03% | 24.17% | 26.73% |
HHH Howard Hughes Corporation | 0.59% | 4.98% | -16.18% | -14.78% | -3.47% | -2.68% | -6.72% | -4.80% |
HLT Hilton Worldwide Holdings Inc. | -0.13% | 8.65% | 21.56% | 19.48% | 40.46% | 35.67% | 23.37% | 47.70% |
META Meta Platforms, Inc. | 1.70% | -5.33% | -12.40% | -12.22% | -15.13% | 27.49% | 12.05% | 17.78% |
QSR Restaurant Brands International Inc. | -0.98% | -2.57% | 8.59% | 6.71% | 15.31% | 2.06% | 5.71% | 8.59% |
UBER Uber Technologies, Inc. | 1.03% | -0.25% | -12.32% | -9.67% | -14.49% | 18.07% | 7.59% | — |
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 +1.47%. At this rate, an investment would double in approximately 4.0 years.
Historically, 59% of months were positive and 41% 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% | -2.32% | -0.66% | ||||||
| 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 0.63%, beta of 1.16, and R2 of 0.75 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 115.51% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- Alpha
- 0.63%
- Beta
- 1.16
- R²
- 0.75
- Upside Capture
- 122.14%
- Downside Capture
- 115.51%
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.
Return for Risk
Risk / Return Rank
Bill Ackman's Portfolio ranks 11 for risk / return — in the bottom 11% 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.
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.
| Portfolio | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.83 | 1.94 | -1.11 |
| Sortino ratioReturn per unit of downside risk | 1.28 | 2.65 | -1.36 |
| Omega ratioGain probability vs. loss probability | 1.15 | 1.35 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 2.66 | -1.72 |
| Martin ratioReturn relative to average drawdown | 3.20 | 11.86 | -8.67 |
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 | 56 | 0.49 | 0.89 | 1.11 | 0.69 | 1.61 |
BN Brookfield Corporation | 54 | 0.45 | 0.80 | 1.10 | 0.58 | 1.59 |
GOOG Alphabet Inc | 96 | 3.90 | 5.22 | 1.63 | 5.42 | 18.93 |
HHH Howard Hughes Corporation | 35 | -0.12 | 0.03 | 1.00 | -0.12 | -0.22 |
HLT Hilton Worldwide Holdings Inc. | 86 | 1.81 | 2.60 | 1.31 | 4.02 | 9.37 |
META Meta Platforms, Inc. | 21 | -0.47 | -0.47 | 0.94 | -0.51 | -1.03 |
QSR Restaurant Brands International Inc. | 61 | 0.66 | 1.04 | 1.13 | 1.15 | 2.51 |
UBER Uber Technologies, Inc. | 24 | -0.43 | -0.43 | 0.95 | -0.45 | -0.78 |
Loading charts...
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 | 0.59% | 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 | 0.23% | 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. | 0.17% | 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. | 0.36% | 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. | 3.42% | 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.
Loading charts...
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 5.46%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -43.36%Mar 2020 | 27d | 7mo 22d | 8mo 19dFeb 2020 - Nov 2020 |
Bear market2022 | -39.32%Nov 2022 | 12mo | 1y 17d | 2y 12dNov 2021 - Nov 2023 |
2025 selloff2025 | -22.18%Apr 2025 | 1mo 18d | 2mo 19d | 4mo 7dFeb 2025 - Jun 2025 |
2026 correction2026 | -15.96%Mar 2026 | 3mo 19d | 1mo 10d | 4mo 29dDec 2025 - May 2026 |
2024 correction2024 | -12.20%Aug 2024 | 19d | 1mo 15d | 2mo 4dJul 2024 - Sep 2024 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Diversification
AI Analysis
The gist
The portfolio is a fairly clean bet on a small set of consumer, platform, and travel-adjacent businesses, with a side of Brookfield Asset Management (BN) and a lonely real-estate sleeve in H Hotel (HHH). To be fair, it is diversified enough to avoid being just one theme, but the correlation structure still says “growth and consumer discretion” more than “many unrelated return streams.”
The numbers
- Diversification ratio is 1.66 at 1Y, 1.48 at 3Y, 1.38 at 5Y, and 1.39 incept; that sits around the 79th/73rd/69th/66th percentiles, which is solid rather than miraculous.
- Effective asset count is 7.24 of 8, so the weights are not doing the usual one-name cosplay of diversification.
- Average pairwise correlation is 0.41; the portfolio is diversified, but the names still speak in nearby dialects.
The good
- The portfolio has genuine spread across communication services, consumer cyclical, technology, financial services, and real estate.
- The lowest-correlation sleeve, Restaurant Brands International (QSR), does some work here; it is not glued to the Meta Platforms (META) / Amazon.com (AMZN) / Alphabet (GOOG) cluster.
- The concentration metrics are healthy: no single position overwhelms the rest.
The bad
- The three-name core of META, AMZN, and GOOG is the obvious correlation engine, with pairwise correlations of 0.62-0.65.
- Uber Technologies (UBER) and BN each carry high portfolio correlation at 0.74 and 0.73, so they do not behave like independent diversifiers in the way the tickers might suggest.
- HHH and BN form a smaller real-asset/financial cluster, which is useful, though not exactly a separate universe.
The ugly
- If the market reprices long-duration growth, online advertising, and consumer spending together, the main clusters can weaken as diversifiers at the same time, which is the old trick portfolios play on themselves.
- If travel and discretionary demand soften while rate sensitivity rises, HHH, HLT, BN, and UBER can end up less offsetting than their labels imply.
Next steps
- Portfolios with this correlation profile are often complemented by exposures whose earnings drivers sit outside the digital-platform and discretionary-consumer complex.
- The 1Y DR being higher than the longer windows suggests the recent correlation structure has been friendlier than the longer-run one.
- The cluster map fits a portfolio that is better described as a set of related growth and consumer bets than as eight independent bets.
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 | 1.48 | 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
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
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 0.43.
Asset Correlations Table
| QSR | UBER | HHH | HLT | META | AMZN | GOOG | BN | |
|---|---|---|---|---|---|---|---|---|
| QSR | 1.00 | 0.30 | 0.40 | 0.42 | 0.24 | 0.23 | 0.28 | 0.42 |
| UBER | 0.30 | 1.00 | 0.35 | 0.42 | 0.40 | 0.41 | 0.39 | 0.39 |
| HHH | 0.40 | 0.35 | 1.00 | 0.48 | 0.31 | 0.29 | 0.34 | 0.57 |
| HLT | 0.42 | 0.42 | 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 | 0.23 | 0.41 | 0.29 | 0.36 | 0.63 | 1.00 | 0.65 | 0.41 |
| GOOG | 0.28 | 0.39 | 0.34 | 0.37 | 0.62 | 0.65 | 1.00 | 0.46 |
| BN | 0.42 | 0.39 | 0.57 | 0.53 | 0.42 | 0.41 | 0.46 | 1.00 |
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