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Pershing Square Capital Management Portfolio holdings

AUM $13.7B
1-Year Est. Return 13.45%
 

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.

This Fund
S&P 500
This Quarter Est. Return
-11.55%
1 Year Est. Return
+13.45%
3 Year Est. Return
+64.66%
5 Year Est. Return
+90.44%
10 Year Est. Return
+446.13%
AUM
$13.7B
AUM Growth
-$1.81B
Cap. Flow
-$258M
Cap. Flow %
-1.88%
Top 10 Hldgs %
99.93%
Holding
12
New
1
Increased
1
Reduced
6
Closed
1

Top Buys

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$2.37B
2
AMZN icon
Amazon
AMZN
+$406M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$1.84B
2
HLT icon
Hilton Worldwide
HLT
+$870M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$203M
4
BN icon
Brookfield
BN
+$75.6M
5
UBER icon
Uber
UBER
+$19.2M

Sector Composition

Rank Sector Weight
1 Technology 30.97%
2 Consumer Discretionary 29.59%
3 Financials 17.62%
4 Communication Services 11.82%
5 Real Estate 9.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BN icon
1
Brookfield
BN
$102B
$2.42B 17.62%
59,697,208
-1,705,881
-3% -$75.6M
AMZN icon
2
Amazon
AMZN
$2.5T
$2.39B 17.39%
11,451,981
+1,844,157
+19% +$406M
UBER icon
3
Uber
UBER
$134B
$2.15B 15.71%
29,958,771
-248,963
-0.8% -$19.2M
MSFT icon
4
Microsoft
MSFT
$2.84T
$2.09B 15.26%
+5,654,078
New +$2.37B
QSR icon
5
Restaurant Brands International
QSR
$25.1B
$1.67B 12.2%
22,645,483
-221,290
-1% -$15.5M
META icon
6
Meta Platforms (Facebook)
META
$1.51T
$1.52B 11.1%
2,660,861
-12,708
-0.5% -$8.14M
HHH icon
7
Howard Hughes
HHH
$3.93B
$1.19B 8.7%
18,852,064
– –
SEG
8
Seaport Entertainment Group
SEG
$333M
$108M 0.79%
5,023,780
– –
GOOG icon
9
Alphabet (Google) Class C
GOOG
$3.9T
$89.4M 0.65%
311,726
-5,852,145
-95% -$1.84B
HTZ icon
10
Hertz
HTZ
$572M
$70.3M 0.51%
15,241,127
– –
GOOGL icon
11
Alphabet (Google) Class A
GOOGL
$3.91T
$9.31M 0.07%
32,376
-645,921
-95% -$203M
HLT icon
12
Hilton Worldwide
HLT
$74B
– –
-3,028,664
Closed -$870M

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Pershing Square Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Pershing Square Capital Management held 12 positions worth $13.7B, down 12% from $15.5B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Pershing Square Capital Management's Q1 2026 filing shows 1 new, 1 increased, 6 reduced and 1 closed positions. Its largest new stake was Microsoft: 5,654,078 shares worth $2.09B. The largest sale was Alphabet (Google) Class C, an estimated $1.84B.

By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 16% a quarter earlier, followed by Consumer Discretionary and Financials.

  • Pershing Square Capital Management's largest Q1 2026 buy was Microsoft: 5,654,078 shares worth $2.09B.
  • Pershing Square Capital Management added most to Amazon in Q1 2026, an estimated $406M increase.
  • Pershing Square Capital Management's biggest Q1 2026 reduction was Alphabet (Google) Class C, cutting an estimated $1.84B.
  • Pershing Square Capital Management fully exited Hilton Worldwide in Q1 2026, selling an estimated $870M.
  • Pershing Square Capital Management's ten largest holdings make up 100% of its $13.7B portfolio in Q1 2026.
  • Pershing Square Capital Management opened 1 new position and closed 1 in Q1 2026.
  • Pershing Square Capital Management's portfolio value fell 12% quarter-over-quarter to $13.7B.

Based on Pershing Square Capital Management's 13F filing for Q1 2026, filed 15 May 2026.