10 Best Long-Term Stocks to Buy According to Bill Ackman

8. Hilton Worldwide Holdings Inc. (NYSE:HLT)

Pershing Square’s Stake: $870 Million

Hilton Worldwide Holdings Inc. (NYSE:HLT) has been a long-term holding in the 13F portfolio of Bill Ackman. The stock first appeared in the 13F filings for his hedge fund in the fourth quarter of 2018. Back then, this holding comprised close to 11 million shares. By the first quarter of 2020, Ackman had increased this position by 30% to just under 14 million shares. Thereafter, his fund has been trimming this stake. By early 2022, the number of Hilton shares owned by Pershing had dropped down to under 10 million. Filings for the fourth quarter of 2025 show that the fund owns a little over 3 million shares in the firm, roughly the same as in the filings for the third quarter of 2025. Hilton is a hospitality company that engages in managing, franchising, and leasing hotels and resorts.

Hilton Worldwide Holdings Inc. (NYSE:HLT) is attracting interest from elite hedge funds as it transitions into a high-margin franchise and management fee engine. Over 90% of Hilton’s adjusted EBITDA now comes from management and franchise fees rather than owning physical real estate. This asset-light model protects margins from rising labor and maintenance costs that plague traditional hotel owners. Even when RevPAR (Revenue Per Available Room) growth slowed in 2025, the firm’s fee revenue grew by 6.4% because the total system size expanded. A major catalyst for the shares has been Hilton’s major expansion agreement in India and rapid growth in China and the Middle East markets.