Bill Ackman Q4 2025. Top holdings: $BN.TO 18.1% ($2.8B) $UBER 15.9% ($2.5B) $AMZN 14.3% ($2.2B) $GOOG 12.5% ($1.9B) #META 11.4% ($1.8B) AUM: $15.5B Concentrated exposure across large-cap tech, consumer and alternatives.