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

In this article, we discuss the Best Long-Term Stocks to Buy According to Bill Ackman.

Bill Ackman, the billionaire chief of Pershing Square, has emerged as a dominant voice in the global markets. During a high-profile roadshow conversation with Robinhood CEO Vlad Tenev earlier this month, Ackman detailed his vision for the fund, a new permanent capital vehicle designed to bypass traditional redemption risks. He famously told Tenev that despite geopolitical tensions, “the best businesses in the world were at some of the lowest valuations in their history.” He emphasized that the current risk premium created by the Middle East conflict was an opportunity for those with long-term horizons, stating, “uncertainty should fade over time,” and that he planned to deploy billions into large-cap stocks “within weeks”.

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The billionaire noted that his 2026 philosophy was anchored in “clarity and concentration,” moving away from the broad diversification that he believed “dilutes real wealth creation.” He has been vocal about his shift into a “Berkshire Hathaway-style” model, aiming to use his management company as an engine for acquiring controlling stakes in durable businesses. He warned investors in April that “the biggest mistake was thinking you’ll get another chance at a great business when the price looks a little high today,” urging a focus on business quality over short-term price movements. As he moves toward a dual IPO of both his management firm and his new fund, Ackman remains defiant against recession fears.

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Our Methodology

For this article, we selected stocks by combing through the 13F portfolio of Pershing Square at the end of the fourth quarter of 2025. Data for the hedge fund sentiment surrounding each stock was taken from Insider Monkey’s Q4 2025 database of 1041 elite hedge funds.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).

Best Long-Term Stocks to Buy According to Bill Ackman

10. Hertz Global Holdings, Inc. (NASDAQ:HTZ)

Pershing Square’s Stake: $78 Million

Hertz Global Holdings, Inc. (NASDAQ:HTZ) has featured in the 13F portfolio of Pershing Square since the fourth quarter of 2024. Back then, this position comprised 12.7 million shares. In the first quarter of 2025, the fund added more than 17% to this holding, growing the stake to around 15 million shares. Another minor addition was made to this in the second quarter of 2025 and the position grew to more than 15.2 million shares. Filings for the fourth quarter of 2025 show that the fund owned 15.2 million shares in the company, the same as in the third quarter of 2025. Hertz operates as a vehicle rental company.

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In 2024 and 2025, Hertz Global Holdings, Inc. (NASDAQ:HTZ) had made a costly and rapid push into Electric Vehicles (EVs) that led to high repair costs and depreciation. This year, the firm seems to be in course correction mode. It has been liquidating high-maintenance EVs and returning to internal combustion engine (ICE) vehicles to stabilize its margins. A new strategic alliance announced earlier this month integrates Hertz into T-Mobile’s Un-carrier lifestyle perks. Top investors view this as a low-cost customer acquisition engine that could drive higher utilization rates during the peak 2026 summer travel season.

9. Seaport Entertainment Group Inc. (NYSE:SEG)

Pershing Square’s Stake: $99 Million

Seaport Entertainment Group Inc. (NYSE:SEG) first made an appearance in the 13F portfolio of Pershing Square in the third quarter of 2024. Back then, this position comprised just over 2 million shares. In the fourth quarter of 2024, the hedge fund added close to 140% to this stake, growing it to more than 5 million shares. No buying or selling activity has been registered against this holding in the past four quarters. The firm owns, develops, and operates a portfolio of entertainment and real estate assets primarily in New York City and Las Vegas. It operates fine dining and casual dining restaurants, cocktail bars, and nightlife and entertainment venues under The Fulton, Mister Dips, Carne Mare, Malibu Farm, Gitano, and The Lawn Club brands.

Seaport Entertainment Group Inc. (NYSE:SEG) has been targeted by institutional investors ever since it became a separate entity, spinning off from parent firm Howard Hughes Holdings. This is because funds believe that target spinoffs like Seaport are undervalued by the market during their first year of independence. The spinoff has allowed the company more operational focus on entertainment and hospitality assets without being weighed down by broad land development projects. The company owns iconic properties including the South Street Seaport in Manhattan, the Las Vegas Aviators, and the Las Vegas Ballpark. These are viewed as high-barrier-to-entry trophy assets. Seaport is also investing in immersive entertainment for recurring revenue.

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.

7. Howard Hughes Holdings Inc. (NYSE:HHH)

Pershing Square’s Stake: $1.5 Billion

Howard Hughes Holdings Inc. (NYSE:HHH) first appeared in the 13F portfolio of Pershing Square in the third quarter of 2023. Back then, this position comprised 17.6 million shares. In the fourth quarter of 2023, the hedge fund added more than 12% to this holding, growing it to over 19.7 million shares. A 4% reduction in this stake was made in the third quarter of 2024. In the five quarters since then, no buying or selling activity has been registered against this holding by the hedge fund. The company develops master planned communities in the United States. It acquires or develops retail, office, and multifamily properties.

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Howard Hughes Holdings Inc. (NYSE:HHH) is no longer just a real estate developer. It is using its massive cash flow from land sales to acquire controlling interests in high-quality, durable growth businesses, mirroring the strategy of Warren Buffett’s Berkshire Hathaway. The company owns a unique portfolio of trophy MPCs, including Summerlin in Las Vegas and The Woodlands in Houston. These assets have seen their Gross Asset Value (GAV) rise to $4.8 billion, even as the firm sold off thousands of acres. Elite investors view the remaining land as a finite resource that increases in value as supply in these high-growth regions tightens.

6. Restaurant Brands International Inc. (NYSE:QSR)

Pershing Square’s Stake: $1.6 Billion

Restaurant Brands International Inc. (NYSE:QSR) is 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 2014. Back then, this position comprised 38 million shares. By the first quarter of 2016, Ackman had added another million shares to this holding. This stake stayed the same until the third quarter of 2017, when the hedge fund reduced this stake by 32% to 26.5 million shares. By early 2020, this position had been trimmed further, to around 15 million shares. In the second quarter of 2020, Ackman added 66% to this position, growing it over 25 million shares again. Filings for the fourth quarter of 2025 show that the fund owns 22 million shares in the firm.

Restaurant Brands International Inc. (NYSE:QSR) has emerged as a hedge against surging oil prices, latest reports reveal. A Bank of America sector analysis found that Quick Service Restaurant (QSR) spending actually accelerates to 7.3% during gas price spikes. As consumers cut back on full-service dining, like Texas Roadhouse, which was downgraded this week, they trade down to Burger King and Popeyes. This makes QSR a rare defensive growth winner during energy-driven market volatility. Elite investors are also rewarding the firm for shareholder friendly policies. The company has committed to a $500 million share repurchase target for 2026, and quarterly dividend was recently raised to $0.65 per share, yielding 3.3%.

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