Pershing Square

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Bill Ackman's Pershing Square reported 11 stock positions worth $11.9 billion. Its top holding was Uber Technologies (UBER) at 18.5% of the portfolio, followed by Brookfield (BN, 18.0%) and Restaurant Brands Intern (QSR, 12.8%). Compared with Q4 2024, it opened 1 new position, sold out of 1, added to 3 and reduced 4. The biggest buy was a new position in Uber Technologies (UBER) and the biggest sale an exit from Nike Class B (NKE).

Most Recent 13F: Q2 2026
Notable People: Bill Ackman
Location: NEW YORK, NY
CIK: 0002026053
Portfolio Value: $11.9B (Q1 2025)
SEC Filing: 0001172661-25-002315 ↗ filed May 15, 2025

Holdings Value

Holdings 11 stocks · $11.9B


UBER Uber Technologies Inc.	18.50%	30,301,161	$2.2B	New
BN Brookfield Corp.	18.01%	41,004,657	$2.1B	Add +17.5%
QSR Restaurant Brands Intern	12.85%	23,000,914	$1.5B	No change
HHH Howard Hughes Holdings Inc.	11.71%	18,852,064	$1.4B	No change
CMG Chipotle Mexican Grill Inc.	9.07%	21,541,177	$1.1B	Reduce -12.6%
CP Canadian Pacific Kansas City	8.71%	14,799,796	$1.0B	Reduce -0.5%
GOOG Alphabet Inc. Class C	8.28%	6,324,031	$988.0M	Reduce -16.2%
GOOGL Alphabet Inc. Class A	5.75%	4,437,980	$686.3M	Add +11.3%
HLT Hilton Worldwide Holdings Inc.	5.72%	3,000,770	$682.8M	Reduce -44.8%
SEG Seaport Entertainment Group	0.90%	5,023,780	$107.9M	No change
HTZ Hertz Global Hldgs Inc.	0.50%	15,000,000	$59.1M	Add +18.0%

Portfolio Sells Q4 2024 → Q1 2025


NKE Nike Inc. Class B	Sold out	0.00%	−11.22
HLT Hilton Worldwide Holdings Inc.	Reduce -44.8%	5.72%	−4.90
GOOG Alphabet Inc. Class C	Reduce -16.2%	8.28%	−3.07
CMG Chipotle Mexican Grill Inc.	Reduce -12.6%	9.07%	−2.68
CP Canadian Pacific Kansas City	Reduce -0.5%	8.71%	+0.21

Portfolio Buys Q4 2024 → Q1 2025


UBER Uber Technologies Inc.	New	18.50%	+18.50
BN Brookfield Corp.	Add +17.5%	18.01%	+2.18
HTZ Hertz Global Hldgs Inc.	Add +18.0%	0.50%	+0.13
GOOGL Alphabet Inc. Class A	Add +11.3%	5.75%	−0.21

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 2024Amended	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