Pershing Square
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Bill Ackman's Pershing Square reported 11 stock positions worth $15.5 billion. Its top holding was Brookfield (BN) at 18.1% of the portfolio, followed by Uber Technologies (UBER, 15.9%) and Amazon.com (AMZN, 14.3%). Compared with Q3 2025, it opened 1 new position, sold out of 1, added to 1 and reduced 6. The biggest buy was a new position in Meta Platforms Class A (META) and the biggest sale Alphabet Class A (GOOGL, shares −86%).
- Most Recent 13F
- Q2 2026
- Notable People
- Bill Ackman
- Location
- NEW YORK, NY
- CIK
- 0002026053
- Portfolio Value
- $15.5B (Q4 2025)
- SEC Filing
- 0001172661-26-001091 ↗ filed Feb 17, 2026
Holdings Value
Holdings 11 stocks · $15.5B
| BN Brookfield Corp. | 18.15% | 61,403,089 | $2.8B | Reduce -0.2% |
| UBER Uber Technologies Inc. | 15.90% | 30,207,734 | $2.5B | Reduce -0.2% |
| AMZN Amazon.com Inc. | 14.28% | 9,607,824 | $2.2B | Add +65.0% |
| GOOG Alphabet Inc. Class C | 12.46% | 6,163,871 | $1.9B | Reduce -2.5% |
| META Meta Platforms Inc. Class A | 11.37% | 2,673,569 | $1.8B | New |
| QSR Restaurant Brands Intern | 10.05% | 22,866,773 | $1.6B | Reduce -0.2% |
| HHH Howard Hughes Holdings Inc. | 9.69% | 18,852,064 | $1.5B | No change |
| HLT Hilton Worldwide Holdings Inc. | 5.60% | 3,028,664 | $870.0M | Reduce -0.1% |
| GOOGL Alphabet Inc. Class A | 1.37% | 678,297 | $212.3M | Reduce -86.0% |
| SEG Seaport Entertainment Group | 0.64% | 5,023,780 | $99.3M | No change |
| HTZ Hertz Global Hldgs Inc. | 0.50% | 15,241,127 | $78.3M | No change |
Portfolio Sells Q3 2025 → Q4 2025
| GOOGL Alphabet Inc. Class A | Reduce -86.0% | 1.37% | −6.67 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −5.77 |
| UBER Uber Technologies Inc. | Reduce -0.2% | 15.90% | −4.36 |
| BN Brookfield Corp. | Reduce -0.2% | 18.15% | −1.06 |
| QSR Restaurant Brands Intern | Reduce -0.2% | 10.05% | +0.01 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -0.1% | 5.60% | +0.23 |
| GOOG Alphabet Inc. Class C | Reduce -2.5% | 12.46% | +1.94 |
Portfolio Buys Q3 2025 → Q4 2025
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 |