Hedge fund managers Bill Ackman and Brad Gerstner are among the most-followed names in the investment space, with investors regularly checking their quarterly positions to see which stocks they're buying, selling or adjusting positions in.

Ackman and the Pershing Square Capital Management hedge fund share four stocks in common with Gerstner's Altimeter Capital hedge fund.

Here's a look at the four stocks that appeared in both hedge funds, as of Dec. 31, 2025.

The 4 Shared Stocks

Ackman holds a slightly smaller number of positions than Altimeter in his hedge fund, with a new position in Meta Platforms (NASDAQ:META) taken in the fourth quarter and changes made to several Magnificent Seven holdings.

Stocks in common are tracked by SEC filings for Pershing Square and Altimeter Capital.

Here are the four stocks in common:

Meta Platforms: Altimeter ended the fourth quarter with Meta as the second-largest holding, at 18% of the hedge fund and valued at $1.22 billion. Meta was the fifth-largest holding in the Pershing Square portfolio at the end of the fourth quarter at 11% and $1.76 billion in shares owned.

Amazon.com Inc (NASDAQ:AMZN): Altimeter ended the fourth quarter with Amazon as its fourth-largest holding, at 7.7% of the hedge fund and valued at $511.4 million. Amazon was the third-largest holding in the Pershing Square portfolio at the end of the fourth quarter, at 14% and $2.22 billion in shares.

Uber Technologies (NYSE:UBER): Altimeter ended the fourth quarter with Uber Technologies as the fifth-largest holding, at 6.9% of the hedge fund and valued at $456.7 million. Uber was the second-largest holding in the Pershing Square portfolio at the end of the fourth quarter, at 16% with $2.47 billion in shares owned.

Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL): Altimeter ended the fourth quarter with Alphabet Class A (GOOGL) shares as the 11th-largest holding, at 2.4% of the hedge fund and valued at $162.5 million. Alphabet Class A shares were the ninth-largest holding in the Pershing Square portfolio at the end of the fourth quarter, at 1.4% and $212.3 million in shares. Alphabet Class C (GOOG) shares were the fourth largest holding in the Pershing Square portfolio at the end of the fourth quarter, at 13% and $1.93 billion in shares owned.

These positions saw changes in size from both fund managers in the fourth quarter.

Meta was a new position for Ackman in the fourth quarter. Altimeter disclosed lowering the Meta stake by 1% in the fourth quarter. That position may have shrunken even more with a CNBC interview with Gerstner hinting that Meta was no longer a top holding.

Altimeter increased its Amazon holdings by 2% in the fourth quarter, while Ackman also added to his Amazon stake by 65% in the quarter.

Uber saw no change from Altimeter, and Ackman sold less than 1% of the position in the fourth quarter.

Altimeter increased its GOOGL holding by 66% in the fourth quarter. Ackman trimmed the position in both GOOG (-2%) and GOOGL (-86%) in the fourth quarter.

Different Investing Styles

Altimeter Capital focuses on long-term technology investments, often focusing on “founder-friendly” companies. The hedge fund invests in both private and public companies. The fund was founded in 2008 by Gerstner, who currently serves as the CEO.

Ackman is a value and activist investor, known for taking large stakes in companies with dominant positions in their sectors and for pushing for changes to unlock shareholder value.

Photo created by Midjourney, Dall-E