Ackman's Pershing Square Stock Falls as BofA Turns Bearish Renato Neves, CFA Tue, October 13, 2026 at 3:20 PM EDT PS -12.27% PSH.L +0.53% PSUS +0.28% UBER -0.27% MSFT +0.79% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Pershing Square (NYSE:PS), Bill Ackman (Trades, Portfolio)'s publicly traded asset manager, fell 11.62% as of 12:45 p.m. ET after BofA Securities downgraded the stock from Neutral to Underperform and cut its price target from $54 to $38.
Warning! GuruFocus has detected 3 Warning Sign with PS.
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BofA said Pershing Square is underperforming in 2026 after three years of strong returns. Market leadership has narrowed to semiconductors and technology hardware, while Ackman's portfolio leans toward technology platforms, consumer and financial stocks. Net asset value at the flagship Pershing Square Holdings (PSH) fund is down 8% year-to-date against a 15% gain in the S&P 500, after a 16% loss in the first quarter. Its holdings include Uber (NYSE:UBER), Brookfield (NYSE:BN), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN) and Meta (NASDAQ:META).
Pershing Square Holdings and Pershing Square USA (PSUS) trade at 36% and 23% discounts to net asset value, respectively.
