At Pershing Square’s annual investor presentation, the firm announced new positions in Hertz (HTZ), Amazon.com (AMZN) and Goal Platforms (META). In 2025, Pershing said he abandoned positions at Chipotle (CMG), Kansas City, Canadian Pacific (CP) and Nike (NKE). Left Hilton (HLT) stock in 2026. Pershing believes concerns around Meta’s “AI-related spending initiatives are underestimating the company’s long-term growth potential from AI.” Hertz is a “leading vehicle rental provider in the early stages of a recovery with asymmetric advantages,” the company said. He believes Amazon “operates two of the world’s largest category-defining franchises.”
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