In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Bill Ackman's Pershing Square reported 11 stock positions worth $12.7 billion . Its top holding was Brookfield (BN) at 15.8% of the portfolio, followed by Restaurant Brands Intern (QSR, 11.8% ) and Chipotle Mexican Grill (CMG, 11.7% ). Compared with Q3 2024, it opened 1 new position, added to 3 and reduced 2. The biggest buy was Brookfield (BN, shares +7% ) and the biggest sale Hilton Worldwide (HLT, shares −26% ).
Notable People Bill Ackman
Location NEW YORK, NY
CIK 0002026053
Portfolio Value $12.7B (Q4 2024) Holdings 11 stocks · $12.7B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 BN Brookfield Corp. 34,893,064 $2.0B Add +6.6% QSR Restaurant Brands Intern 23,000,914 $1.5B No change CMG Chipotle Mexican Grill Inc. 24,653,533 $1.5B Reduce -14.4% HHH Howard Hughes Holdings Inc. 18,852,064 $1.5B No change GOOG Alphabet Inc. Class C 7,547,582 $1.4B No change NKE Nike Inc. Class B 18,768,946 $1.4B Add +15.3% HLT Hilton Worldwide Holdings Inc. 5,440,546 $1.3B Reduce -26.2% CP Canadian Pacific Kansas City 14,877,651 $1.1B No change GOOGL Alphabet Inc. Class A 3,986,488 $754.6M No change SEG Seaport Entertainment Group 5,023,780 $140.4M Add +139.8% HTZ Hertz Global Hldgs Inc. 12,713,963 $46.5M New
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ HLT Hilton Worldwide Holdings Inc. Reduce -26.2% 10.62% −2.54 CMG Chipotle Mexican Grill Inc. Reduce -14.4% 11.74% −1.12
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ BN Brookfield Corp. Add +6.6% 15.83% +2.36 SEG Seaport Entertainment Group Add +139.8% 1.11% +0.66 HTZ Hertz Global Hldgs Inc. New 0.37% +0.37 NKE Nike Inc. Class B Add +15.3% 11.22% +0.07
Notes & Other Activity Q3 2024 → Q4 2024 Security Class Change vs Q3 2024 Shares / Principal Value ▼ SEAPORT ENTERTAINMENT GR-RTS RIGHT 10/10/2024 Sold out 2,094,673 $6.2Mbefore exit
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 14 $19.5B UBER, BN, MSFT, AMZN, HHH Q1 2026 11 $13.7B BN, AMZN, UBER, MSFT, QSR Q4 2025 11 $15.5B BN, UBER, AMZN, GOOG, META Q3 2025 11 $14.6B UBER, BN, HHH, GOOG, QSR Q2 2025 11 $13.7B UBER, BN, QSR, AMZN, HHH Q1 2025 11 $11.9B UBER, BN, QSR, HHH, CMG Q4 2024 Amended 11 $12.7B BN, QSR, CMG, HHH, GOOG Q3 2024 10 $12.9B BN, HLT, CMG, QSR, HHH Q2 2024 9 $10.4B HLT, CMG, QSR, GOOG, HHH Q1 2024 7 $10.8B CMG, HLT, QSR, GOOG, HHH