Pershing Square

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Bill Ackman's Pershing Square reported 11 stock positions worth $14.6 billion. Its top holding was Uber Technologies (UBER) at 20.3% of the portfolio, followed by Brookfield (BN, 19.2%) and Howard Hughes (HHH, 10.6%). Compared with Q2 2025, it reduced 4. The biggest sale was Restaurant Brands Intern (QSR, shares −0%).

Most Recent 13F
Q2 2026
Notable People
Bill Ackman
Location
NEW YORK, NY
CIK
0002026053
Portfolio Value
$14.6B (Q3 2025)
SEC Filing
0001172661-25-005039 ↗ filed Nov 14, 2025

Holdings Value

0$5.0B$10.0B$15.0B$20.0B Q1 2024: $10.8B Q1 2024 Q2 2024: $10.4B Q2 2024 Q3 2024: $12.9B Q3 2024 Q4 2024: $12.7B Q4 2024 Q1 2025: $11.9B Q1 2025 Q2 2025: $13.7B Q2 2025 Q3 2025: $14.6B $14.6B Q3 2025 Q4 2025: $15.5B Q4 2025 Q1 2026: $13.7B Q1 2026 Q2 2026: $19.5B Q2 2026

Holdings 11 stocks · $14.6B
UBER Uber Technologies Inc. 20.25% 30,270,518 $3.0B Reduce -0.1%
BN Brookfield Corp. 19.21% 41,020,231 $2.8B Reduce -0.3%
HHH Howard Hughes Holdings Inc. 10.58% 18,852,064 $1.5B No change
GOOG Alphabet Inc. Class C 10.52% 6,324,031 $1.5B No change
QSR Restaurant Brands Intern 10.04% 22,915,496 $1.5B Reduce -0.4%
AMZN Amazon.com Inc. 8.73% 5,823,316 $1.3B No change
GOOGL Alphabet Inc. Class A 8.04% 4,843,973 $1.2B Reduce -9.7%
CMG Chipotle Mexican Grill Inc. 5.77% 21,541,177 $844.2M No change
HLT Hilton Worldwide Holdings Inc. 5.37% 3,030,578 $786.3M No change
SEG Seaport Entertainment Group 0.79% 5,023,780 $115.1M No change
HTZ Hertz Global Hldgs Inc. 0.71% 15,241,127 $103.6M No change

Portfolio Sells Q2 2025 → Q3 2025
QSR Restaurant Brands Intern Reduce -0.4% 10.04% −1.07
UBER Uber Technologies Inc. Reduce -0.1% 20.25% −0.34
BN Brookfield Corp. Reduce -0.3% 19.21% +0.67
GOOGL Alphabet Inc. Class A Reduce -9.7% 8.04% +1.16

Portfolio Buys Q2 2025 → Q3 2025
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 14$19.5BUBER, BN, MSFT, AMZN, HHH
Q1 2026 11$13.7BBN, AMZN, UBER, MSFT, QSR
Q4 2025 11$15.5BBN, UBER, AMZN, GOOG, META
Q3 2025 11$14.6BUBER, BN, HHH, GOOG, QSR
Q2 2025 11$13.7BUBER, BN, QSR, AMZN, HHH
Q1 2025 11$11.9BUBER, BN, QSR, HHH, CMG
Q4 2024Amended 11$12.7BBN, QSR, CMG, HHH, GOOG
Q3 2024 10$12.9BBN, HLT, CMG, QSR, HHH
Q2 2024 9$10.4BHLT, CMG, QSR, GOOG, HHH
Q1 2024 7$10.8BCMG, HLT, QSR, GOOG, HHH