13F · As of Q1 2026 · filed 2026-05-15 · compared with Q4 2025

Pershing Square

Bill Ackman's fund

Pershing Square reported 11 US-listed positions worth $13.7B at the end of Q1 2026. The top three — Brookfield (17.6%), Amazon (17.4%), Uber Technologies (15.7%) — make up 50.7% of the portfolio. Against Q4 2025 it opened 1 new positions, sold out of 1, added to 1 and trimmed 3.

$13.7BReported value
11Positions
1 / 1New / Sold out

New positions

1
SecurityTickerValue ($)WeightSharesvs prior quarter
MicrosoftMSFT 2.1B15.3%5,654,078 New

Sold out

1
SecurityTickerValue ($)WeightSharesvs prior quarter
Hilton WorldwideHLT 870M—3,028,664 Sold out

Added to

1
SecurityTickerValue ($)WeightSharesvs prior quarter
AmazonAMZN 2.4B17.4%11,451,981 ▲ 19%

Trimmed

3
SecurityTickerValue ($)WeightSharesvs prior quarter
BrookfieldBN 2.4B17.6%59,697,208 ▼ 3%
AlphabetGOOG 89.4M0.65%311,726 ▼ 95%
AlphabetGOOGL 9.3M0.07%32,376 ▼ 95%

All holdings

11
CSV ↓
SecurityTickerValue ($)WeightSharesvs prior quarter
BrookfieldBN 2.4B17.6%59,697,208 ▼ 3%
AmazonAMZN 2.4B17.4%11,451,981 ▲ 19%
Uber TechnologiesUBER 2.2B15.7%29,958,771 –
MicrosoftMSFT 2.1B15.3%5,654,078 New
Restaurant Brands IntlQSR 1.7B12.2%22,645,483 –
Meta PlatformsMETA 1.5B11.1%2,660,861 –
Howard HughesHHH 1.2B8.70%18,852,064 –
Seaport Entmt GroupSEG 108M0.79%5,023,780 –
AlphabetGOOG 89.4M0.65%311,726 ▼ 95%
Hertz GlobalHTZ 70.3M0.51%15,241,127 –
AlphabetGOOGL 9.3M0.07%32,376 ▼ 95%
Top 10 holdings by weight · Q1 2026
Brookfie…17.6%Amazon17.4%Uber Tec…15.7%Microsoft15.3%Restaura…12.2%Meta Pla…11.1%Howard H…8.70%Seaport …0.79%Alphabet0.65%Hertz Gl…0.51%

If you had bought then

Q4 2025 → Q1 2026

Bought Pershing Square's top 10 holdings at the end of Q4 2025, in its weights, and they were -9.0% by the end of Q1 2026. The S&P 500 ETF (SPY) moved -4.6% over the same dates.

-9.0%Top 10, weighted
-4.6%S&P 500 (SPY)
-4.3%pDifference
StockWeightQ4 2025 endQ1 2026 endChange
Brookfield
18.2%$45.89$40.47-11.8%
Uber Technologies
16.0%$81.71$71.93-12.0%
Amazon
14.4%$230.82$208.27-9.8%
Alphabet
12.5%$313.80$286.86-8.6%
Meta Platforms
11.4%$660.09$572.13-13.3%
Restaurant Brands Intl
10.1%$68.23$73.90+8.3%
Howard Hughes
9.73%$79.77$63.26-20.7%
Hilton Worldwide
5.63%$287.25$304.08+5.9%
Alphabet
1.37%$313.00$287.56-8.1%
Seaport Entmt Group
0.64%$19.77$21.48+8.6%

Prices are the quarter-end values reported in 13F filings (value ÷ shares, median across tracked filers), adjusted for confirmed splits; dividends excluded. 13F shows only quarter-end holdings, so this is not the investor's actual return. Past performance does not indicate future results.

Questions

What is Pershing Square's largest holding?

Brookfield, 17.6% of reported US holdings ($2.4B) at the end of Q1 2026.

What did Pershing Square buy last quarter?

1 new positions, largest: Microsoft.

What did Pershing Square sell out of?

1 positions, including Hilton Worldwide.

How current is this data?

It is Pershing Square's Form 13F for the quarter ending 2026-03-31, filed 2026-05-15. 13F filings are due 45 days after quarter end and list US-listed long positions only.

Restated and computed from SEC (13F, 13D/G, Form 4) and DART filings and NPS public data. Filings describe a past date and may differ from current holdings (13F: quarter end, up to 45 days later). Not investment advice.
Sources: SEC EDGAR, DART, data.go.kr (NPS), OpenFIGI. See Methodology for how figures are computed.