The latest 13F filing from Pershing Square Capital Management (Bill Ackman) offers a clear snapshot of how one of the world’s most concentrated, high-conviction investors is positioning his U.S. equity book. Ackman is known for running a deliberately small portfolio, emphasizing dominant franchises, long duration cash flows, and situations where operational improvement or strategic change can unlock substantial value.This quarter’s filing reinforces that philosophy. Pershing Square remains highly concentrat ...