In Pershing Square’s annual investor presentation, the firm announced new positions in Hertz, Amazon.com, and Meta Platforms. In 2025, Pershing exited positions in Chipotle, Canadian Pacific Kansas City, and Nike. It exited Hilton shares in 2026. Pershing believes concerns around Meta’s AI-related spending initiatives are underestimating the company’s long-term upside potential.

Hertz is seen as a leading vehicle rental provider in the early stages of a turnaround with asymmetric upside, according to Pershing Square. The firm also believes Amazon operates two of the world’s great, category-defining franchises. Pershing Square’s annual investor presentation highlighted these key points.

Published first on TheFly, Pershing Square’s annual investor presentation revealed their new positions in Hertz, Amazon.com, and Meta Platforms. The firm also exited positions in Chipotle, Canadian Pacific Kansas City, and Nike in 2025. Pershing believes concerns around Meta’s AI-related spending initiatives are underestimating the company’s long-term upside potential.

Read more at Yahoo Finance: Pershing Square buys Hertz, Amazon and Meta, exits Hilton and Nike