Ackman’s Pershing Square adds seven investments in 2026, reports Q3 loss

Bill Ackman's Pershing Square Inc disclosed a $19.9 million net loss for the third quarter in its latest quarterly report, compared to $155.5 million in net income the previous year. The investment firm's revenue declined 14.5% to $56.6 million, while total expenses increased to $76.7 million from $41.9 million. Despite the Q3 net loss, Pershing Square continued to grow its 2026 investment portfolio, making seven new investments and initiating an eighth position after the period.

The fund manager anticipated annual earnings-per-share growth of around 20% over the next three to five years, surpassing the S&P 500's 13% growth. Pershing Square's portfolio returned 3.5% in the third quarter, outperforming the S&P 500's 2.3% gain. Microsoft and Meta Platforms Inc were the leading performers in the portfolio. The investment firm attributed its success to investor enthusiasm in artificial intelligence infrastructure companies, diverting attention away from other businesses with consistent earnings growth, creating opportunities to acquire stocks at favorable valuations.