Jannik Sinner: My career is 'way beyond my dreams', I didn't always believe in myself
Jannik Sinner revealed in his pre-US Open press conference that he was planning to quit professional tennis if he didn't find success early in his career.
This was revealed in Pershing Square Capital Management’s 13F filing with the United States Securities and Exchange Commission, a mandatory disclosure for investment firms managing more than $100 million (R1.76 billion) in assets.
Ackman’s journey into investing began at a young age, starting with an internship at a real estate development company in his hometown of Chappaqua, New York.
This early exposure to the business world gave him valuable insights into financial markets and investment strategies.
He studied at Harvard Business School, where he refined his analytical skills and developed a disciplined investment philosophy.
After completing his studies, Ackman co-founded his first hedge fund, Gotham Partners, which specialised in value-oriented and activist investment strategies.
In 2004, he launched Pershing Square Capital Management, taking a focused and hands-on approach to building a portfolio of high-quality businesses.
His investment style favours companies with strong fundamentals, long-term growth prospects, and capable leadership teams.
Over nearly two decades, his listed hedge fund, Pershing Square Holdings, has achieved an impressive annualised return of 16.1%, cementing his reputation as one of the most successful investors of his generation.
Ackman’s method is rooted in identifying companies that are undervalued yet have the potential for significant appreciation.
Rather than simply holding shares, he often adopts an activist stance, using his influence as a shareholder to advocate for strategic changes that he believes will boost a company’s long-term performance.
This approach has produced notable wins over the years, generating substantial returns on many of his investments. Despite these successes, Ackman maintains a deliberately concentrated portfolio comprising just 11 holdings.
Instead of diversifying broadly, he commits capital only to businesses he has researched in depth and understands intimately.
This allows him to maintain a strong grasp of each company’s operations and positioning, giving him an advantage over more widely spread investors whose portfolios may lack the same level of focus.
His selective, research-driven strategy continues to guide Pershing Square’s investment decisions, balancing bold, high-conviction bets with careful analysis to capture long-term value.
Pershing Square’s portfolio
Ackman’s 13F filing revealed that his firm sold its entire stake in Canadian Pacific Kansas City, the first and only single-line rail network connecting Canada, the United States and Mexico.
Notably, Pershing Square also increased its stake in Google’s parent company, Alphabet, by 20.84%. During Q2 2025, the company also increased its share in three other companies – Hertz Global, Hilton Worldwide, and Brookfield.
Pershing Square also added Amazon to its portfolio, adding 5,823,316 shares worth $1.28 billion (R22.43 billion).
The table below outlines Pershing Square Capital Management’s portfolio as of 30 June 2025, valued at $13.73 billion (R240.99 billion).
| Company | Percent of Portfolio | Change | Value |
|---|---|---|---|
| Uber Technologies Inc. | 20.59 | No change | $2,827,098,000 |
| Brookfield Corp. | 18.54 | Add 0.38% | $2,545,771,000 |
| Restaurant Brands International | 11.11 | No change | $1,524,731,000 |
| Amazon.com Inc. | 9.31 | Buy | $1,277,577,000 |
| Howard Hughes Holdings Inc. | 9.27 | No change | $1,272,514,000 |
| Chipotle Mexican Grill Inc. | 8.81 | No change | $1,209,537,000 |
| Alphabet Inc. CL C | 8.17 | No change | $1,121,820,000 |
| Alphabet Inc. | 6.88 | Add 20.84% | $945,118,000 |
| Hilton Worldwide Holdings | 5.88 | Add 0.99% | $807,164,000 |
| Hertz Global Hldgs Inc. | 0.76 | Add 1.61% | $104,097,000 |
| Seaport Entertainment Group | 0.68 | No change | $93,693,000 |
