FilingsTodayPershing Square
At a glance
Founded by Bill Ackman in 2004, the fund holds around ten stocks at a time. It is known for activist campaigns that push management for change, so single positions are large and the list changes little from quarter to quarter.
At the end of 2026 Q1, Pershing Square's 13F listed 10 US stocks worth $13.71B. The largest position was Brookfield at 17.6% of the portfolio, and the top 10 made up 100%, a concentrated book. The five biggest holdings were Brookfield ($2.42B), Amazon COM ($2.39B), Uber Technologies ($2.15B), Microsoft ($2.09B) and Restaurant Brands International ($1.67B).
Against 2025 Q4, it opened 1 new position and sold out of 1. The largest new positions were Microsoft ($2.09B). Among the bigger holdings it added to Amazon COM (+19.2% shares). It trimmed Brookfield (-2.8%) and Alphabet (-95%). Positions it exited include Hilton Worldwide Holdings.
Over 8 quarters from 2024 Q2 to 2026 Q1, the reported portfolio went from $10.41B to $13.71B (+31.7%) and from 8 to 10 stocks. It was largest at 2025 Q4 ($15.53B). The largest holding changed over the period: GOOGL, HTZ, UBER and BN. New positions and exits added up to 26 over these quarters.
Top 10 by weight
Quarter by quarter (last 8)
| Quarter | Total value | Stocks | New | Exited | Largest |
|---|---|---|---|---|---|
| 2026 Q1 | $13.71B | 10 | 1 | 1 | BN |
| 2025 Q4 | $15.53B | 10 | 1 | 1 | BN |
| 2025 Q3 | $14.64B | 10 | 0 | 0 | UBER |
| 2025 Q2 | $13.73B | 10 | 1 | 1 | UBER |
| 2025 Q1 | $11.93B | 10 | 9 | 0 | UBER |
| 2024 Q4 | $46.5M | 1 | 1 | 9 | HTZ |
| 2024 Q3 | $12.92B | 9 | 1 | 0 | GOOGL |
| 2024 Q2 | $10.41B | 8 | - | - | GOOGL |
Holdings top 10
| Stock | Value | Weight | Share change |
|---|---|---|---|
| Brookfield BNReduced | $2.42B | 17.62% | -2.8% |
| Amazon COM AMZNAdded | $2.39B | 17.39% | +19.2% |
| Uber Technologies UBER | $2.15B | 15.71% | -0.8% |
| Microsoft MSFTNew | $2.09B | 15.26% | New |
| Restaurant Brands International QSR | $1.67B | 12.20% | -1.0% |
| Meta Platforms META | $1.52B | 11.10% | -0.5% |
| Howard Hughes Holdings HHH | $1.19B | 8.70% | 0.0% |
| Seaport Entertainment Group SEG | $107.9M | 0.79% | 0.0% |
| Alphabet GOOGLReduced | $98.7M | 0.72% | -95.0% |
| Hertz Global Holdings HTZ | $70.3M | 0.51% | 0.0% |
Sold out (vs 2025 Q4)
Source: SEC Form 13F. Options and bonds are excluded; multiple lines for the same stock are combined. Stocks are matched by their SEC-registered names.