Pershing Square portfolio
Bill Ackman's investment firm, New York · 13F holdings for the quarter ended March 31, 2026
Filed with the SEC May 15, 2026 · Next filing due by August 14, 2026
Reported value
$13.7B
down from $15.5B in Q4 2025
Positions
11
11 last quarter
Top 10 holdings
99.9%
of the portfolio
This quarter
1 new · 1 sold
1 added to, 6 trimmed
What Ackman did in Q1 2026
Pershing Square opened a new position in Microsoft. It sold out of Hilton Worldwide Holdings. It cut Alphabet by 95% and Alphabet by 95%. Brookfield is still the largest holding, at 17.6% of the portfolio.
Biggest buys
- Microsoft MSFTNew
- Amazon AMZN+19%
Biggest sells
- Hilton Worldwide Holdings HLTSold out
- Alphabet GOOGL−95%
- Alphabet GOOG−95%
- Brookfield BN−3%
- Restaurant Brands International QSR−1.0%
Top 11 holdings
Values as reported in the 13F, not today’s prices| # | Company | Share of portfolio | Reported value | Change vs Q4 2025 | Held since |
|---|---|---|---|---|---|
| 1 | BrookfieldBN | 17.6% | $2.4B | −3% | Q3 2024 or earlier |
| 2 | AmazonAMZN | 17.4% | $2.4B | +19% | Q2 2025 |
| 3 | Uber TechnologiesUBER | 15.7% | $2.2B | −0.8% | Q1 2025 |
| 4 | MicrosoftMSFT | 15.3% | $2.1B | New | Q1 2026 |
| 5 | Restaurant Brands InternationalQSR | 12.2% | $1.7B | −1.0% | Q3 2024 or earlier |
| 6 | Meta PlatformsMETA | 11.1% | $1.5B | −0.5% | Q4 2025 |
| 7 | Howard Hughes HoldingsHHH | 8.7% | $1.2B | No change | Q3 2024 or earlier |
| 8 | Seaport Entertainment GroupSEG | 0.8% | $107.9M | No change | Q3 2024 or earlier |
| 9 | AlphabetGOOG | 0.7% | $89.4M | −95% | Q3 2024 or earlier |
| 10 | Hertz Global HoldingsHTZ | 0.5% | $70.3M | No change | Q1 2025 |
| 11 | AlphabetGOOGL | 0.1% | $9.3M | −95% | Q3 2024 or earlier |
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About this data
- What is a 13F?
- A quarterly report to the SEC in which an investment manager with over $100 million in US-listed stocks lists what it holds.
- How current is it?
- Managers file up to 45 days after each quarter ends, so the holdings may have changed since.
- Whose figures are these?
- The values are as the manager reported them in the filing, not today's prices. The SEC lets a manager keep some positions confidential for a time, and those are not in the filing.
- What does it leave out?
- Short positions, cash, bonds and most holdings outside US markets. Options are left out here too.