Bill Ackman’s portfolio: Pershing Square Capital 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001336528Latest: Q1 2026
Q1 2025 filing in brief
In its Q1 2025 13F, filed May 15, 2025, Pershing Square Capital reported $11.9B across 11 US positions. The largest: UBER (18.5%), BN (18.0%), QSR (12.8%), HHH (11.7%), CMG (9.1%). In the quarter it opened 1 position, sold out of 1, added to 3 and trimmed 3; positions opened and sold out came to 29.5% of the portfolio's value.
Methodology
Holdings come from the manager’s Form 13F-HR filings on SEC EDGAR, with amendments applied. Values and shares are reported at quarter-end; the filing date is when the report became public. These disclosures show reported long positions and listed options, not the manager’s entire portfolio or its trades since quarter-end.
Quarterly changes compare shares with the immediately preceding quarter on file. New and exited positions appear or disappear; added and trimmed positions change their share count by more than 1%. A share change can also reflect a stock split or other corporate action.
Opened and sold out is the value of new positions plus the prior value of exited positions, divided by the average of the two quarters’ reported portfolio values. It excludes changes to positions still held. Reported value growth includes price changes and is not a measure of investment performance. Largest-five and largest-ten weights exclude options.
Holdings
Filed May 15, 2025
- 1 New
- 3 Added
- 3 Trimmed
- 1 Exited
11 positions at March 31, 2025. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | UBER | UBER TECHNOLOGIES INC | $2.2B | 30.3M | 18.50% | — | New |
| 2 | BN | BROOKFIELD CORP | $2.1B | 41.0M | 18.01% | +17.5% | Added |
| 3 | QSR | RESTAURANT BRANDS INTL INC | $1.5B | 23.0M | 12.85% | 0.0% | Held |
| 4 | HHH | HOWARD HUGHES HOLDINGS INC | $1.4B | 18.9M | 11.71% | 0.0% | Held |
| 5 | CMG | CHIPOTLE MEXICAN GRILL INC | $1.1B | 21.5M | 9.07% | −12.6% | Trimmed |
| 6 | CP | CANADIAN PACIFIC KANSAS CITY | $1.0B | 14.8M | 8.71% | −0.5% | Held |
| 7 | GOOG | ALPHABET INC | $988M | 6.3M | 8.28% | −16.2% | Trimmed |
| 8 | GOOGL | ALPHABET INC | $686M | 4.4M | 5.75% | +11.3% | Added |
| 9 | HLT | HILTON WORLDWIDE HLDGS INC | $683M | 3.0M | 5.72% | −44.8% | Trimmed |
| 10 | SEG | SEAPORT ENTMT GROUP INC | $108M | 5.0M | 0.90% | 0.0% | Held |
| 11 | HTZ | HERTZ GLOBAL HLDGS INC | $59M | 15.0M | 0.50% | +18.0% | Added |
1 exited position
Positions held in the preceding quarter and absent from this filing. Values and shares are from the preceding quarter.
| Ticker | Issuer | Previous value | Previous shares |
|---|---|---|---|
| NKE | NIKE INC | $1.4B | 18.8M |
Every quarter on file (52)
From the manager’s Form 13F-HR filings on SEC EDGAR, amendments applied. Long US positions only; not a recommendation.