Pershing Square Capital Management Portfolio holdings
Pershing Square Capital Management, L.P., founded in 2004 by Bill Ackman and headquartered in New York City, is a prominent American hedge fund known for its concentrated, activist investment approach, managing over $18 billion in assets as of recent years. Starting with $54 million from Ackman’s personal funds and a seed investment from Leucadia National, the firm focuses on acquiring significant stakes in a small portfolio of large-cap North American companies, often pushing for operational and governance changes to unlock shareholder value, as seen in high-profile campaigns targeting Wendy’s, McDonald’s, and Herbalife. In 2014, Ackman launched Pershing Square Holdings, a closed-end fund listed on Euronext Amsterdam and the London Stock Exchange, raising $3 billion in its IPO, providing a permanent capital base to support its long-term strategies. Renowned for bold moves—like a $2.6 billion profit betting on a market crash in 2020—and a research-intensive, value-driven philosophy, Pershing Square has solidified its reputation as a formidable player in the investment world under Ackman’s leadership.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Netflix
NFLX
|
+$1.15B |
| 2 |
S&P Global
SPGI
|
+$1.1B |
| 3 |
Mastercard
MA
|
+$1.06B |
| 4 |
Visa
V
|
+$1.05B |
| 5 |
Howard Hughes
HHH
|
+$585M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$725M |
| 2 |
Brookfield
BN
|
+$99.1M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$89.4M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$9.31M |
| 5 |
Hertz
HTZ
|
+$1.36M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 29.37% |
| 2 | Technology | 24.62% |
| 3 | Consumer Discretionary | 20.1% |
| 4 | Communication Services | 14.05% |
| 5 | Real Estate | 10.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Uber
UBER
$149B
| $2.48B | 12.72% |
34,326,200
+4,367,429
| +15% | +$320M |
|
|
2
Brookfield
BN
$87.7B
| $2.45B | 12.58% |
57,481,047
-2,216,161
| -4% | -$99.1M |
|
3
Microsoft
MSFT
$3.67T
| $2.32B | 11.89% |
6,206,730
+552,652
| +10% | +$224M |
|
|
4
Amazon
AMZN
$2.77T
| $2.04B | 10.49% |
8,563,857
-2,888,124
| -25% | -$725M |
|
|
5
Howard Hughes
HHH
$3.83B
| $1.99B | 10.23% |
27,852,064
+9,000,000
| +48% | +$585M |
|
6
Restaurant Brands International
QSR
$27.3B
| $1.87B | 9.62% |
25,821,284
+3,175,801
| +14% | +$242M |
|
7
Meta Platforms (Facebook)
META
$1.56T
| $1.8B | 9.25% |
3,196,062
+535,201
| +20% | +$327M |
|
|
8
Visa
V
$688B
| $1.12B | 5.76% |
+3,270,470
| New | +$1.05B |
|
|
9
Mastercard
MA
$500B
| $1.09B | 5.61% |
+2,124,646
| New | +$1.06B |
|
|
10
S&P Global
SPGI
$127B
| $1.06B | 5.43% |
+2,593,155
| New | +$1.1B |
|
|
11
Netflix
NFLX
$320B
| $934M | 4.8% |
+13,081,465
| New | +$1.15B |
|
|
PSUS
12
Pershing Square USA
PSUS
| $150M | 0.77% |
+4,000,000
| New | +$160M |
|
|
SEG
13
Seaport Entertainment Group
SEG
$335M
| $134M | 0.69% |
5,023,780
| – | – |
|
|
14
Hertz
HTZ
$781M
| $34M | 0.17% |
14,991,599
-249,528
| -2% | -$1.36M |
|
|
15
Alphabet (Google) Class C
GOOG
$4.1T
| – | – |
-311,726
| Closed | -$89.4M |
|
|
16
Alphabet (Google) Class A
GOOGL
$4.14T
| – | – |
-32,376
| Closed | -$9.31M |
|
Similar funds
Pershing Square Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, Pershing Square Capital Management held 16 positions worth $19.5B, up 42% from $13.7B the previous quarter. Its ten largest holdings account for 94% of the portfolio.
Pershing Square Capital Management deployed $5.29B of net new capital in Q2 2026, opening 5 new positions and adding to 5 existing holdings. Its largest new stake was Netflix: 13,081,465 shares worth $934M.
By sector, the portfolio is most concentrated in Financials at 29% of assets, up from 18% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Amazon, an estimated $725M trimmed.
- Pershing Square Capital Management's largest Q2 2026 buy was Netflix: 13,081,465 shares worth $934M.
- Pershing Square Capital Management added most to Howard Hughes in Q2 2026, an estimated $585M increase.
- Pershing Square Capital Management's biggest Q2 2026 reduction was Amazon, cutting an estimated $725M.
- Pershing Square Capital Management fully exited Alphabet (Google) Class C in Q2 2026, selling an estimated $89.4M.
- Pershing Square Capital Management's ten largest holdings make up 94% of its $19.5B portfolio in Q2 2026.
- Pershing Square Capital Management opened 5 new positions and closed 2 in Q2 2026.
- Pershing Square Capital Management's portfolio value rose 42% quarter-over-quarter to $19.5B.
Based on Pershing Square Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.