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Hedge fund · Long-only 13F filer

Pershing Square Capital Management

$13.7B$1.8B vs prior 13FUS long stock positions · not assets under managementSEC EDGAR · 13F-HR · filed 15 May 2026

Pershing Square Capital Management's latest 13F filing covers the quarter ended 31 March 2026 and was filed 15 May 2026 (45 days after quarter end): 11 disclosed US-listed positions — $13.7 billion in long stock. One new buy, two trims and one exit against the prior quarter. Holdings are up to 45 days old by the time they clear EDGAR.

Pershing Square Capital Management has stopped filing, or filed late: its most recent 13F in our EDGAR ingest was filed 15 May 2026, covering the quarter ended 31 March 2026 — 1 reporting quarter behind the newest filing among managers we track. Everything below is that last filing, not a current portfolio.

Portfolio · vs S&P 500Pershing Square Capital ManagementS&P 500
Jun 2025Pershing Square Capital Management -0% · S&P from Sept 2025: -2%

The line rebuilds Pershing Square Capital Management's disclosed 13F holdings at each filing and holds them to the next, tracked against the S&P 500 where daily price history overlaps. Long US equity only — an illustrative read, not an audited return.

S&P 500 overlay: Finazon · prior-day close, most closes dollar-rounded at the source

Portfolio · vs S&P 500Pershing Square Capital ManagementS&P 500
Sept 2024Pershing Square Capital Management +6% · S&P from Sept 2025: -2%

The line rebuilds Pershing Square Capital Management's disclosed 13F holdings at each filing and holds them to the next, tracked against the S&P 500 where daily price history overlaps. Long US equity only — an illustrative read, not an audited return.

S&P 500 overlay: Finazon · prior-day close, most closes dollar-rounded at the source

Long stock value$13.7B
Positions11
Top holdingBN · 17.6%
Top sectorTechnology 32%
New buys · Q1 20261
Exits · Q1 20261

Portfolio reconstructed from SEC EDGAR 13F filings · values as reported · as of Q1 2026

Top holdings — quarter ended 31 March 2026

Largest 11 of 11 positions
PositionValueWeightSharesLast quarter
BNBROOKFIELD CORP$2.4B17.6%59.7MHeld
AMZNAMAZON COM INC$2.4B17.4%11.5MHeld
UBERUBER TECHNOLOGIES INC$2.2B15.7%30.0MHeld
MSFTMICROSOFT CORP$2.1B15.3%5.7MNew buy
QSRRESTAURANT BRANDS INTL INC$1.7B12.2%22.6MHeld
METAMETA PLATFORMS INC$1.5B11.1%2.7MHeld
HHHHOWARD HUGHES HOLDINGS INC$1.2B8.7%18.9MHeld
SEGSEAPORT ENTMT GROUP INC$107.9M0.8%5.0MHeld
GOOGALPHABET INC$89.4M0.7%311.7KTrimmed
HTZHERTZ GLOBAL HLDGS INC$70.3M0.5%15.2MHeld
GOOGLALPHABET INC$9.3M0.1%32.4KTrimmed

Rows sharing a company name are separate securities of the same issuer — different share classes or option positions, as filed.

Quarterly changes — quarter ended 31 March 2026

4 changes vs prior quarter
New buys1
Adds0
Trims2
Exits1

What changed against the previous quarter's filing: new positions first, then adds, trims and exits, each sorted by position size.

PositionChangeShares movedValue after
MSFTMICROSOFT CORPNew buy+5.7M$2.1B
GOOGALPHABET INCTrimmed−5.9M$89.4M
GOOGLALPHABET INCTrimmed−645.9K$9.3M
HLTHILTON WORLDWIDE HLDGS INCSold out−3.0Mwas $870.0M

Rows sharing a company name are separate securities of the same issuer — different share classes or option positions, as filed.

Sector allocation

Technology32%
Consumer Cyclical30%
Other / unclassified18%
Communication Services11%
Real Estate9%
Industrials1%

Holdings by sector

Technology carries the largest share of disclosed value, at 32%.

Technology32%
GOOG · GOOGL · MSFT · UBER
Consumer Cyclical30%
AMZN · QSR
Other / unclassified18%
BN · SEG
Communication Services11%
META
Real Estate9%
HHH
Industrials1%
HTZ
What is Pershing Square Capital Management's biggest holding?

As of the quarter ended 31 March 2026, the largest disclosed position was BN (BROOKFIELD CORP), about 17.6% of the disclosed US-listed portfolio by reported value.

What did Bill Ackman's Pershing Square Capital Management buy in Q1 2026?

1 new position was disclosed for the quarter ended 31 March 2026: MSFT. Adds and trims are listed in the quarterly-changes table on this page.

How concentrated is the portfolio?

Very concentrated. The top five positions are 78% of disclosed value and the top ten are 100%.

When is Pershing Square Capital Management's next 13F due?

13F filings for the quarter ended 30 September 2026 are due by 16 November 2026 — managers have 45 days after each calendar quarter ends. Whether Pershing Square Capital Management files is up to the manager; we show whatever EDGAR receives.

Does this show the whole portfolio?

No. Form 13F covers US-listed long equity and some options only — no short bets, bonds, cash, private businesses, non-US holdings or timing inside the quarter. Amended filings replace originals; this page always shows the latest canonical version.

Read the form itself on SEC EDGAR or see our plain-words guide to 13F filings — Pershing Square Capital Management may have already changed these positions since 31 March 2026.

Pershing Square Capital Management 13F portfolio — holdings and quarterly moves · The Distributed