Hedge fund, long-only 13F filer
Pershing Square Capital Management
US long stock positions, not assets under management
Form 13F-HR, filed 15 May 2026
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 — 2 reporting quarters behind the newest filing among managers we track. Everything below is that last filing, not a current portfolio.
How has Pershing Square Capital Management's portfolio moved against the S&P 500?
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 — 13.7B USD 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.
Since Jun 2025Pershing Square Capital Management -0%S&P 500 from Dec 2025 -4%
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.
Since Sept 2024Pershing Square Capital Management +6%S&P 500 from Dec 2025 -4%
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.
- Long stock value
- 13.7B USD
- Positions
- 11
- Top holding
- BN, 17.6%
- Top sector
- Technology 32%
- New buys, Q1 2026
- 1
- Exits, Q1 2026
- 1
Values as reported, as of Q1 2026
Top holdings — quarter ended 31 March 2026
11 US-listed positions were disclosed for the quarter ended 31 March 2026; the 11 largest by reported value are below.
Source: SEC EDGAR Form 13F-HR, as filed.
| Position | Value | Weight | Shares | Last quarter |
|---|---|---|---|---|
| BNBROOKFIELD CORP | 2.4B USD | 17.6% | 59.7M | Held |
| AMZNAMAZON COM INC | 2.4B USD | 17.4% | 11.5M | Held |
| UBERUBER TECHNOLOGIES INC | 2.2B USD | 15.7% | 30.0M | Held |
| MSFTMICROSOFT CORP | 2.1B USD | 15.3% | 5.7M | New buy |
| QSRRESTAURANT BRANDS INTL INC | 1.7B USD | 12.2% | 22.6M | Held |
| METAMETA PLATFORMS INC | 1.5B USD | 11.1% | 2.7M | Held |
| HHHHOWARD HUGHES HOLDINGS INC | 1.2B USD | 8.7% | 18.9M | Held |
| SEGSEAPORT ENTMT GROUP INC | 107.9M USD | 0.8% | 5.0M | Held |
| GOOGALPHABET INC | 89.4M USD | 0.7% | 311.7K | Trimmed |
| HTZHERTZ GLOBAL HLDGS INC | 70.3M USD | 0.5% | 15.2M | Held |
| GOOGLALPHABET INC | 9.3M USD | 0.1% | 32.4K | Trimmed |
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 the prior quarter's filing, as of 31 March 2026: 1 new, 0 added, 2 trimmed and 1 sold out.
What changed against the previous quarter's filing: new positions first, then adds, trims and exits, each sorted by position size.
New buys 1Adds 0Trims 2Exits 1
| Position | Change | Shares moved | Value after |
|---|---|---|---|
| MSFTMICROSOFT CORP | New buy | +5.7M | 2.1B USD |
| GOOGALPHABET INC | Trimmed | −5.9M | 89.4M USD |
| GOOGLALPHABET INC | Trimmed | −645.9K | 9.3M USD |
| HLTHILTON WORLDWIDE HLDGS INC | Sold out | −3.0M | was 870.0M USD |
Rows sharing a company name are separate securities of the same issuer — different share classes or option positions, as filed.
Sector allocation
Technology carries the largest share of disclosed value, at 32%.
Weights are by reported value of the quarter-end holdings; sectors from the reference list, unclassified where none matched.
| Sector | Weight | Holdings |
|---|---|---|
| Technology | 32% | GOOG, GOOGL, MSFT, UBER |
| Consumer Cyclical | 30% | AMZN, QSR |
| Other / unclassified | 18% | BN, SEG |
| Communication Services | 11% | META |
| Real Estate | 9% | HHH |
| Industrials | 1% | HTZ |
Pershing Square Capital Management: frequently asked questions
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.
References
- SEC EDGAR Form 13F-HR, quarterly, up to 45 days delayed. Filings are public records. Ticker mapping via SEC public files and OpenFIGI.
- Finazon prior-day close, indicative (IEX-derived, not the official close), some closes dollar-rounded at the source