BA
Bill Ackman
Pershing Square Capital Management13F filer
Concentrated activist; high-quality businesses — as the firm describes itselfPortfolio as of Mar 31, 2026Filed May 15, 2026
Quarter ended Mar 31, 2026, from the 13F filed May 15, 2026Changes are against the quarter ended Dec 31, 2025U.S.-listed shares only — no bonds, cash, shorts or foreign listings
Portfolio value
$13.71B
As reported, at quarter-end prices
Positions
11
U.S.-listed companies held
1 new · 1 exited this quarter
Concentration
100%in the top 10
Weight held in the ten largest positions
This quarter
1added · 6trimmed
Positions resized since the prior quarter
What changed this quarter
See which positions were opened, increased, reduced or closed—and how large those positions are now.
| Company | Reported move | Change in shares | Portfolio weight now |
|---|---|---|---|
MICROSOFT CORPMSFT | New position | Not held in prior quarter | 15.26% |
HILTON WORLDWIDE HLDGS INCHLT | Sold out | Position closed | No longer held |
AMAZON COM INCAMZN | Added to | +19.2% | 17.39% |
ALPHABET INCGOOG | Reduced | -94.9% | 0.65% |
ALPHABET INCGOOGL | Reduced | -95.2% | 0.07% |
BROOKFIELD CORPBN | Reduced | -2.8% | 17.62% |
| Reduced | -0.8% | 15.71% | |
| Reduced | -1.0% | 12.20% | |
| Reduced | -0.5% | 11.10% |
Showing 1–9 of 9 changes · Share classes count separatelyBars: square-root scale · Percentages shown · — unavailable
Changes compare reported share counts at quarter-end. The filing does not tell us when trades happened or why the investor made them.
Portfolio
| Ticker | Issuer | % of portfolio | Reported price | Value | Shares |
|---|---|---|---|---|---|
| BN | BROOKFIELD CORP· CL A LTD VT SHDECREASED -2.8% | 17.62% | $40.47 | $2.42B | 59.7M |
| AMZN | AMAZON COM INCINCREASED +19.2% | 17.39% | $208.27 | $2.39B | 11.5M |
| UBER | UBER TECHNOLOGIES INCDECREASED -0.8% | 15.71% | $71.93 | $2.15B | 30.0M |
| MSFT | MICROSOFT CORPNEW | 15.26% | $370.17 | $2.09B | 5.7M |
| QSR | RESTAURANT BRANDS INTL INC· FOREIGN STOCKDECREASED -1.0% | 12.20% | $73.90 | $1.67B | 22.6M |
| META | META PLATFORMS INC· CL ADECREASED -0.5% | 11.10% | $572.13 | $1.52B | 2.7M |
| HHH | HOWARD HUGHES HOLDINGS INCUNCHANGED | 8.70% | $63.26 | $1.19B | 18.9M |
| SEG | SEAPORT ENTMT GROUP INCUNCHANGED | 0.79% | $21.48 | $107.91M | 5.0M |
| GOOG | ALPHABET INC· CAP STK CL CDECREASED -94.9% | 0.65% | $286.86 | $89.42M | 311.7K |
| HTZ | HERTZ GLOBAL HLDGS INC· COM NEWUNCHANGED | 0.51% | $4.61 | $70.26M | 15.2M |
Showing 1–10 of 11 · the top 10 are 99.9% of the reported portfolioEach row opens the company · how we read 13F filings
Reported price is this manager's own reported value divided by its own reported shares at 2026-03-31 — not a live quote, and not what they paid. 13F reports no cost basis.
All 11 positions, with reported prices and share counts, open with a free account.
Connected research
Follow this portfolio through time.
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- “What has Bill Ackman been buying over the last year, quarter by quarter?”
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