Pershing Square Capital Management Portfolio
Pershing Square Capital Management is managed by Bill Ackman; 13F filer (CIK 0001336528).
Q4 2025 · 11 positions · Total reported value $15.53B · Top-10 concentration 99.5%
Turnover: 58.3% · 1 new · 5 cut · 1 exited
In its Q4 2025 13F filing, Pershing Square Capital Management disclosed 11 equity positions with a combined reported value of $15.53B. The filing implies a focused portfolio: its ten largest positions account for 99.5% of reported value. HoldingsHub classifies the profile as Large / Focused / Consumer Tilt / High Turnover.
The largest disclosed positions as of Q4 2025 were BN ($2.82B), UBER ($2.47B), AMZN ($2.22B). By sector, the heaviest allocations are Consumer Discretionary 47.0%, Real Estate 27.8%. Versus the prior quarter, allocation shifted toward Technology (+6.6pp) and away from Real Estate (-2.0pp), Consumer Discretionary (-4.7pp).
Versus the prior quarter, Pershing Square Capital Management opened 1 new positions, trimmed 5 and fully exited 1, a turnover rate of 58.3% of positions. The portfolio's overlap with the prior quarter was 83% of names.
Figures come from the fund's SEC Form 13F filing. 13F reports are filed within 45 days of quarter end and cover long positions of $100,000 or more; they exclude short positions and non-13F asset classes, so treat this page as a quarter-end snapshot rather than the fund's live book.
| # | Symbol | Company | Shares | Value | Weight | Change |
|---|---|---|---|---|---|---|
| 1 | BN | BROOKFIELD CORP | 61.40M | $2.82B | 18.15% | Add |
| 2 | UBER | UBER TECHNOLOGIES INC | 30.21M | $2.47B | 15.90% | Hold |
| 3 | AMZN | AMAZON COM INC | 9.61M | $2.22B | 14.28% | Add |
| 4 | GOOG | ALPHABET INC | 6.16M | $1.93B | 12.46% | Reduce |
| 5 | META | META PLATFORMS INC. CLASS A | 2.67M | $1.76B | 11.37% | New |
| 6 | QSR | RESTAURANT BRANDS INTL INC | 22.87M | $1.56B | 10.05% | Hold |
| 7 | HHH | HOWARD HUGHES HOLDINGS INC | 18.85M | $1.50B | 9.69% | Hold |
| 8 | HLT | HILTON WORLDWIDE HLDGS INC | 3.03M | $869.98M | 5.60% | Hold |
| 9 | GOOGL | ALPHABET INC | 678.30K | $212.31M | 1.37% | Reduce |
| 10 | SEG | SEAPORT ENTMT GROUP INC | 5.02M | $99.32M | 0.64% | Hold |
| 11 | HTZ | HERTZ GLOBAL HLDGS INC | 15.24M | $78.34M | 0.51% | Hold |