According to reports, Bill Ackman's Pershing Square Capital Management's flagship fund, Pershing Square Holdings, has consistently outperformed the market since its inception in 2004. Approximately 98% of the fund's value is concentrated in seven stocks, with major holdings including Microsoft, Meta Platforms, and Amazon. In May of this year, Ackman stated that Microsoft's stock was attractively valued after a correction, and he sold Alphabet shares for this reason. He also believes that the market underestimates Meta's long-term growth potential in AI-related spending. Additionally, his holdings in stocks such as Uber Technologies, Restaurant Brands International, and Howard Hughes Holdings have also performed well.