# Pershing Square Capital Management, L.P.

> Institutional holdings reported to the SEC as of Q1 2026 on Form 13F. CIK 1336528. Source: https://holderbook.com/funds/1336528-pershing-square-capital-management-l-p/

- Reported value: $13.7B
- Positions: 11
- Weight of the ten largest: 99.9%
- Filed: 2026-05-15

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $2.4B | 59,697,208 | 17.6% | 8 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.4B | 11,451,981 | 17.4% | 4 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $2.2B | 29,958,771 | 15.7% | 5 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $2.1B | 5,654,078 | 15.3% | 1 |
| RESTAURANT BRANDS INTL INC | [QSR](https://holderbook.com/stocks/QSR/) | $1.7B | 22,645,483 | 12.2% | 30 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $1.5B | 2,660,861 | 11.1% | 2 |
| HOWARD HUGHES HOLDINGS INC | [HHH](https://holderbook.com/stocks/HHH/) | $1.2B | 18,852,064 | 8.7% | 11 |
| SEAPORT ENTMT GROUP INC | [SEG](https://holderbook.com/stocks/SEG/) | $107.9M | 5,023,780 | 0.8% | 7 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $89.4M | 311,726 | 0.7% | 13 |
| HERTZ GLOBAL HLDGS INC | [HTZ](https://holderbook.com/stocks/HTZ/) | $70.3M | 15,241,127 | 0.5% | 6 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $9.3M | 32,376 | 0.1% | 13 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2026 | -9.0% | -4.6% | -4.3% | 100% |
| Q4 2025 | +2.8% | +2.4% | +0.4% | 100% |
| Q3 2025 | +7.7% | +7.8% | -0.1% | 100% |
| Q2 2025 | +12.7% | +10.5% | +2.2% | 100% |
| Q1 2025 | -9.8% | -4.6% | -5.2% | 100% |
| Q4 2024 | +0.3% | +2.1% | -1.8% | 100% |
| Q3 2024 | +2.7% | +5.4% | -2.8% | 100% |
| Q2 2024 | +1.3% | +4.0% | -2.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2026 | $13.7B | 11 |
| Q4 2025 | $15.5B | 11 |
| Q3 2025 | $14.6B | 11 |
| Q2 2025 | $13.7B | 11 |
| Q1 2025 | $11.9B | 11 |
| Q4 2024 | $12.7B | 11 |
| Q3 2024 | $12.9B | 11 |
| Q2 2024 | $10.4B | 9 |
| Q1 2024 | $10.8B | 7 |
| Q4 2023 | $10.4B | 8 |
| Q3 2023 | $10.5B | 8 |
| Q2 2023 | $10.8B | 8 |