The Long List Of Bill Ackman’s Favorite Hedge Funds, PE Funds and VC Funds

Many hedge fund managers operate their own foundations to give back to their communities and the world, and their annual reports reveal some interesting information about their investments — including the hedge funds they invest with.

Bill Ackman of Pershing Square is one of those managers with his own foundation, serving as trustee of The Pershing Square Foundation, with over $500 million in AUM. We can get an idea of which hedge fund managers he trusts the most by looking at which funds he invests his foundation’s money with.

Founded by Ackman in 2006, The Pershing Square Foundation “supports exceptional leaders and innovative organizations that tackle important social, health and environmental issues and deliver scalable and sustainable impact.” In 2024, the foundation made grants to entities such as the Albert Einstein College of Medicine, the Icahn School of Medicine at Mount Sinai, the Society for Neuroscience, The Education Culture and Neighborhood Renewal Company, and The Galien Foundation.

According to The Pershing Square Foundation’s 990-PF for 2024, which was filed in November 2025, it had about $547 million in assets at the end of the year.

Also see: Here’s Where Bill Ackman’s Pershing Square Foundation Invests

Capital gains and losses

The Pershing Square Foundation reported capital gains on many transactions in 2024, including the sale of some holdings in Pershing Square Intl and Pershing Square Intl #2. In fact, those sales netted the foundation huge stacks of cash, in the amounts of $19.6 million for the former and $13.9 million for the latter.