Reported portfolio
Bill Ackman
Pershing Square Inc.
Last update 2026-08-14
- Reported portfolio value
- $19,465,693,000
- Current positions
- 14
- Top five concentration
- 57.9%
- Largest position
- 12.7%
- New positions
- 5
- Closed positions
- 2
Reported holdings
16 positions
| Company | Portfolio | Recent activity | Shares | Reported price | Reported value | Updated / source |
|---|---|---|---|---|---|---|
UBER UBER TECHNOLOGIES INC | 12.72% | Added 14.6% | 34,326,200+4,367,429 | $72 | $2,476,979,000+$322,044,000 | 13F2026-06-30 ↗ |
BN BROOKFIELD CORP | 12.58% | Reduced 3.7% | 57,481,047−2,216,161 | $43 | $2,448,118,000+$32,172,000 | 13F2026-06-30 ↗ |
MSFT MICROSOFT CORP | 11.89% | Added 9.8% | 6,206,730+552,652 | $373 | $2,315,234,000+$222,264,000 | 13F2026-06-30 ↗ |
AMZN AMAZON COM INC | 10.49% | Reduced 25.2% | 8,563,857−2,888,124 | $238 | $2,041,110,000−$343,994,000 | 13F2026-06-30 ↗ |
HHH HOWARD HUGHES HOLDINGS INC | 10.23% | Added 47.7% | 27,852,064+9,000,000 | $71 | $1,991,144,000+$798,562,000 | 13F2026-06-30 ↗ |
QSR RESTAURANT BRANDS INTL INC | 9.62% | Added 14.0% | 25,821,284+3,175,801 | $73 | $1,872,301,000+$198,800,000 | 13F2026-06-30 ↗ |
META META PLATFORMS INC | 9.25% | Added 20.1% | 3,196,062+535,201 | $563 | $1,800,310,000+$277,951,000 | 13F2026-06-30 ↗ |
V VISA INC | 5.76% | New | 3,270,470+3,270,470 | $343 | $1,122,066,000+$1,122,066,000 | 13F2026-06-30 ↗ |
MA MASTERCARD INCORPORATED | 5.61% | New | 2,124,646+2,124,646 | $514 | $1,091,218,000+$1,091,218,000 | 13F2026-06-30 ↗ |
SPGI S&P GLOBAL INC | 5.43% | New | 2,593,155+2,593,155 | $407 | $1,056,088,000+$1,056,088,000 | 13F2026-06-30 ↗ |
NFLX NETFLIX INC. | 4.80% | New | 13,081,465+13,081,465 | $71 | $934,017,000+$934,017,000 | 13F2026-06-30 ↗ |
PSUS PERSHING SQUARE USA LTD | 0.77% | New | 4,000,000+4,000,000 | $37 | $149,520,000+$149,520,000 | 13F2026-06-30 ↗ |
SEG SEAPORT ENTMT GROUP INC | 0.69% | Unchanged | 5,023,780 | $27 | $133,633,000+$25,722,000 | 13F2026-06-30 ↗ |
HTZ HERTZ GLOBAL HLDGS INC | 0.17% | Reduced 1.6% | 14,991,599−249,528 | $2 | $33,956,000−$36,306,000 | 13F2026-06-30 ↗ |
GOOG ALPHABET INC | 0.00% | Exited | 0−311,726 | $287 | $0−$89,422,000 | 13F2026-06-30 ↗ |
GOOGL ALPHABET INC | 0.00% | Exited | 0−32,376 | $288 | $0−$9,310,000 | 13F2026-06-30 ↗ |
Reported price is calculated from the reported value and share count. It is not the investor's actual purchase price.
Filing history
Historical holdings
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| UBER | UBER TECHNOLOGIES INC | 12.72% | 34,326,200 | $2,476,979,000 |
| BN | BROOKFIELD CORP | 12.58% | 57,481,047 | $2,448,118,000 |
| MSFT | MICROSOFT CORP | 11.89% | 6,206,730 | $2,315,234,000 |
| AMZN | AMAZON COM INC | 10.49% | 8,563,857 | $2,041,110,000 |
| HHH | HOWARD HUGHES HOLDINGS INC | 10.23% | 27,852,064 | $1,991,144,000 |
| QSR | RESTAURANT BRANDS INTL INC | 9.62% | 25,821,284 | $1,872,301,000 |
| META | META PLATFORMS INC | 9.25% | 3,196,062 | $1,800,310,000 |
| V | VISA INC | 5.76% | 3,270,470 | $1,122,066,000 |
| MA | MASTERCARD INCORPORATED | 5.61% | 2,124,646 | $1,091,218,000 |
| SPGI | S&P GLOBAL INC | 5.43% | 2,593,155 | $1,056,088,000 |
| NFLX | NETFLIX INC. | 4.80% | 13,081,465 | $934,017,000 |
| PSUS | PERSHING SQUARE USA LTD | 0.77% | 4,000,000 | $149,520,000 |
| SEG | SEAPORT ENTMT GROUP INC | 0.69% | 5,023,780 | $133,633,000 |
| HTZ | HERTZ GLOBAL HLDGS INC | 0.17% | 14,991,599 | $33,956,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BN | BROOKFIELD CORP | 17.62% | 59,697,208 | $2,415,946,000 |
| AMZN | AMAZON COM INC | 17.39% | 11,451,981 | $2,385,104,000 |
| UBER | UBER TECHNOLOGIES INC | 15.71% | 29,958,771 | $2,154,934,000 |
| MSFT | MICROSOFT CORP | 15.26% | 5,654,078 | $2,092,970,000 |
| QSR | RESTAURANT BRANDS INTL INC | 12.20% | 22,645,483 | $1,673,501,000 |
| META | META PLATFORMS INC | 11.10% | 2,660,861 | $1,522,358,000 |
| HHH | HOWARD HUGHES HOLDINGS INC | 8.70% | 18,852,064 | $1,192,582,000 |
| SEG | SEAPORT ENTMT GROUP INC | 0.79% | 5,023,780 | $107,911,000 |
| GOOG | ALPHABET INC | 0.65% | 311,726 | $89,422,000 |
| HTZ | HERTZ GLOBAL HLDGS INC | 0.51% | 15,241,127 | $70,262,000 |
| GOOGL | ALPHABET INC | 0.07% | 32,376 | $9,310,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BN | BROOKFIELD CORP | 18.15% | 61,403,089 | $2,817,788,000 |
| UBER | UBER TECHNOLOGIES INC | 15.90% | 30,207,734 | $2,468,274,000 |
| AMZN | AMAZON COM INC | 14.28% | 9,607,824 | $2,217,678,000 |
| GOOG | ALPHABET INC | 12.46% | 6,163,871 | $1,934,223,000 |
| META | META PLATFORMS INC | 11.37% | 2,673,569 | $1,764,796,000 |
| QSR | RESTAURANT BRANDS INTL INC | 10.05% | 22,866,773 | $1,560,200,000 |
| HHH | HOWARD HUGHES HOLDINGS INC | 9.69% | 18,852,064 | $1,503,829,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 5.60% | 3,028,664 | $869,984,000 |
| GOOGL | ALPHABET INC | 1.37% | 678,297 | $212,307,000 |
| SEG | SEAPORT ENTMT GROUP INC | 0.64% | 5,023,780 | $99,320,000 |
| HTZ | HERTZ GLOBAL HLDGS INC | 0.50% | 15,241,127 | $78,339,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| UBER | UBER TECHNOLOGIES INC | 20.25% | 30,270,518 | $2,965,603,000 |
| BN | BROOKFIELD CORP | 19.21% | 41,020,231 | $2,813,167,000 |
| HHH | HOWARD HUGHES HOLDINGS INC | 10.58% | 18,852,064 | $1,549,074,000 |
| GOOG | ALPHABET INC | 10.52% | 6,324,031 | $1,540,218,000 |
| QSR | RESTAURANT BRANDS INTL INC | 10.04% | 22,915,496 | $1,469,800,000 |
| AMZN | AMAZON COM INC | 8.73% | 5,823,316 | $1,278,625,000 |
| GOOGL | ALPHABET INC | 8.04% | 4,843,973 | $1,177,570,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 5.77% | 21,541,177 | $844,199,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 5.37% | 3,030,578 | $786,253,000 |
| SEG | SEAPORT ENTMT GROUP INC | 0.79% | 5,023,780 | $115,145,000 |
| HTZ | HERTZ GLOBAL HLDGS INC | 0.71% | 15,241,127 | $103,640,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| UBER | UBER TECHNOLOGIES INC | 20.59% | 30,301,161 | $2,827,098,000 |
| BN | BROOKFIELD CORP | 18.54% | 41,160,397 | $2,545,771,000 |
| QSR | RESTAURANT BRANDS INTL INC | 11.11% | 23,000,914 | $1,524,731,000 |
| AMZN | AMAZON COM INC | 9.31% | 5,823,316 | $1,277,577,000 |
| HHH | HOWARD HUGHES HOLDINGS INC | 9.27% | 18,852,064 | $1,272,514,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 8.81% | 21,541,177 | $1,209,537,000 |
| GOOG | ALPHABET INC | 8.17% | 6,324,031 | $1,121,820,000 |
| GOOGL | ALPHABET INC | 6.88% | 5,362,980 | $945,118,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 5.88% | 3,030,578 | $807,164,000 |
| HTZ | HERTZ GLOBAL HLDGS INC | 0.76% | 15,241,127 | $104,097,000 |
| SEG | SEAPORT ENTMT GROUP INC | 0.68% | 5,023,780 | $93,693,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| UBER | UBER TECHNOLOGIES INC | 18.50% | 30,301,161 | $2,207,743,000 |
| BN | BROOKFIELD CORP | 18.01% | 41,004,657 | $2,149,054,000 |
| QSR | RESTAURANT BRANDS INTL INC | 12.85% | 23,000,914 | $1,532,781,000 |
| HHH | HOWARD HUGHES HOLDINGS INC | 11.71% | 18,852,064 | $1,396,561,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 9.07% | 21,541,177 | $1,081,582,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 8.71% | 14,799,796 | $1,039,094,000 |
| GOOG | ALPHABET INC | 8.28% | 6,324,031 | $988,003,000 |
| GOOGL | ALPHABET INC | 5.75% | 4,437,980 | $686,289,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 5.72% | 3,000,770 | $682,825,000 |
| SEG | SEAPORT ENTMT GROUP INC | 0.90% | 5,023,780 | $107,861,000 |
| HTZ | HERTZ GLOBAL HLDGS INC | 0.50% | 15,000,000 | $59,100,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BN | BROOKFIELD CORP | 15.89% | 34,893,064 | $2,004,607,000 |
| QSR | RESTAURANT BRANDS INTL INC | 11.88% | 23,000,914 | $1,499,200,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 11.78% | 24,653,533 | $1,486,608,000 |
| HHH | HOWARD HUGHES HOLDINGS INC | 11.50% | 18,852,064 | $1,450,101,000 |
| GOOG | ALPHABET INC | 11.39% | 7,547,582 | $1,437,362,000 |
| NKE | NIKE INC | 11.26% | 18,768,946 | $1,420,246,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 10.66% | 5,440,546 | $1,344,685,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 8.54% | 14,877,651 | $1,076,696,000 |
| GOOGL | ALPHABET INC | 5.98% | 3,986,488 | $754,642,000 |
| SEG | SEAPORT ENTMT GROUP INC | 1.11% | 5,023,780 | $140,415,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| HTZ | HERTZ GLOBAL HLDGS INC | 100.00% | 12,713,963 | $46,533,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| BN | BROOKFIELD CORP | 13.47% | 32,735,883 | $1,739,912,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 13.15% | 7,370,168 | $1,698,824,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 12.85% | 28,815,165 | $1,660,330,000 |
| QSR | RESTAURANT BRANDS INTL INC | 12.84% | 23,000,914 | $1,658,826,000 |
| HHH | HOWARD HUGHES HOLDINGS INC | 11.30% | 18,852,064 | $1,459,715,000 |
| NKE | NIKE INC | 11.14% | 16,280,338 | $1,439,182,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 9.85% | 14,877,651 | $1,272,634,000 |
| GOOG | ALPHABET INC | 9.77% | 7,547,582 | $1,261,880,000 |
| GOOGL | ALPHABET INC | 5.12% | 3,986,488 | $661,159,000 |
| SEG | SEAPORT ENTMT GROUP INC | 0.44% | 2,094,673 | $57,436,000 |
| — | SEAPORT ENTMT GROUP INC | 0.05% | 2,094,673 | $6,179,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| HLT | HILTON WORLDWIDE HLDGS INC | 18.76% | 8,952,290 | $1,953,390,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 17.34% | 28,815,165 | $1,805,270,000 |
| QSR | RESTAURANT BRANDS INTL INC | 15.64% | 23,142,542 | $1,628,541,000 |
| GOOG | ALPHABET INC | 13.30% | 7,547,582 | $1,384,377,000 |
| HHH | HOWARD HUGHES HOLDINGS INC | 11.74% | 18,852,064 | $1,221,991,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 11.32% | 14,965,641 | $1,178,245,000 |
| GOOGL | ALPHABET INC | 6.97% | 3,986,488 | $726,139,000 |
| BN | BROOKFIELD CORP | 2.73% | 6,854,510 | $284,736,000 |
| NKE | NIKE INC | 2.20% | 3,040,132 | $229,135,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| CMG | CHIPOTLE MEXICAN GRILL INC | 20.10% | 743,984 | $2,162,590,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 18.20% | 9,181,180 | $1,958,438,000 |
| QSR | RESTAURANT BRANDS INTL INC | 17.24% | 23,348,135 | $1,855,009,000 |
| GOOG | ALPHABET INC | 13.27% | 9,377,195 | $1,427,772,000 |
| HHH | HOWARD HUGHES HOLDINGS INC | 12.72% | 18,852,064 | $1,369,037,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 12.37% | 15,095,528 | $1,330,973,000 |
| GOOGL | ALPHABET INC | 6.11% | 4,354,824 | $657,274,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| CMG | CHIPOTLE MEXICAN GRILL INC | 18.15% | 824,998 | $1,886,737,000 |
| QSR | RESTAURANT BRANDS INTL INC | 17.55% | 23,348,135 | $1,824,190,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 16.08% | 9,181,180 | $1,671,801,000 |
| HHH | HOWARD HUGHES HOLDINGS INC | 15.51% | 18,852,064 | $1,612,794,000 |
| GOOG | ALPHABET INC | 12.71% | 9,377,195 | $1,321,528,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 11.48% | 15,095,528 | $1,193,452,000 |
| GOOGL | ALPHABET INC | 5.85% | 4,354,824 | $608,325,000 |
| LOW | LOWES COS INC | 2.67% | 1,245,515 | $277,189,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| CMG | CHIPOTLE MEXICAN GRILL INC | 16.65% | 953,608 | $1,746,848,000 |
| QSR | RESTAURANT BRANDS INTL INC | 14.82% | 23,348,135 | $1,555,453,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 14.75% | 10,305,500 | $1,547,680,000 |
| LOW | LOWES COS INC | 14.00% | 7,066,623 | $1,468,727,000 |
| HHH | HOWARD HUGHES HOLDINGS INC | 11.87% | 16,806,908 | $1,245,896,000 |
| GOOG | ALPHABET INC | 11.78% | 9,377,195 | $1,236,383,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 10.70% | 15,095,528 | $1,123,258,000 |
| GOOGL | ALPHABET INC | 5.43% | 4,354,824 | $569,872,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| CMG | CHIPOTLE MEXICAN GRILL INC | 18.86% | 953,608 | $2,039,768,000 |
| QSR | RESTAURANT BRANDS INTL INC | 16.73% | 23,348,135 | $1,809,947,000 |
| LOW | LOWES COS INC | 15.58% | 7,468,850 | $1,685,719,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 12.56% | 9,332,853 | $1,358,397,000 |
| — | HOWARD HUGHES CORP | 12.09% | 16,570,228 | $1,307,722,000 |
| CP | CANADIAN PACIFIC KANSAS CITY | 11.27% | 15,095,528 | $1,219,266,000 |
| GOOG | ALPHABET INC | 10.49% | 9,377,195 | $1,134,359,000 |
| GOOGL | ALPHABET INC | 2.42% | 2,185,000 | $261,545,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| LOW | LOWES COS INC | 19.64% | 10,036,114 | $2,006,922,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 17.21% | 1,029,186 | $1,758,148,000 |
| QSR | RESTAURANT BRANDS INTL INC | 15.90% | 24,194,166 | $1,624,396,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 12.82% | 9,299,041 | $1,309,956,000 |
| — | HOWARD HUGHES CORP | 12.52% | 15,984,532 | $1,278,763,000 |
| — | CANADIAN PAC RY LTD | 11.48% | 15,238,044 | $1,172,415,000 |
| GOOG | ALPHABET INC | 8.21% | 8,069,770 | $839,256,000 |
| GOOGL | ALPHABET INC | 2.22% | 2,185,000 | $226,650,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| LOW | LOWES COS INC | 23.53% | 10,374,801 | $2,067,075,000 |
| QSR | RESTAURANT BRANDS INTL INC | 17.81% | 24,194,166 | $1,564,637,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 17.46% | 1,105,208 | $1,533,465,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 14.43% | 10,031,580 | $1,267,590,000 |
| — | HOWARD HUGHES CORP | 13.83% | 15,895,135 | $1,214,706,000 |
| — | CANADIAN PAC RY LTD | 12.94% | 15,237,044 | $1,136,531,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| LOW | LOWES COS INC | 24.74% | 10,374,801 | $1,948,491,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 21.08% | 1,105,208 | $1,660,862,000 |
| QSR | RESTAURANT BRANDS INTL INC | 16.33% | 24,194,166 | $1,286,646,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 15.36% | 10,031,580 | $1,210,009,000 |
| — | CANADIAN PAC RY LTD | 12.91% | 15,237,044 | $1,016,616,000 |
| — | HOWARD HUGHES CORP | 9.58% | 13,620,164 | $754,421,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| LOW | LOWES COS INC | 23.89% | 10,207,306 | $1,782,910,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 19.36% | 1,105,208 | $1,444,794,000 |
| QSR | RESTAURANT BRANDS INTL INC | 16.01% | 23,822,641 | $1,194,705,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 14.80% | 9,908,602 | $1,104,215,000 |
| — | HOWARD HUGHES CORP | 12.42% | 13,620,164 | $926,852,000 |
| DPZ | DOMINOS PIZZA INC | 10.76% | 2,061,312 | $803,314,000 |
| — | CANADIAN PAC RY LTD | 2.76% | 2,944,259 | $205,627,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| LOW | LOWES COS INC | 19.86% | 10,207,306 | $2,063,815,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 16.97% | 1,114,725 | $1,763,528,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 14.53% | 9,952,287 | $1,510,160,000 |
| — | HOWARD HUGHES CORP | 13.58% | 13,620,164 | $1,411,185,000 |
| QSR | RESTAURANT BRANDS INTL INC | 13.41% | 23,864,631 | $1,393,456,000 |
| NFLX | NETFLIX INC | 11.21% | 3,109,965 | $1,164,962,000 |
| DPZ | DOMINOS PIZZA INC | 8.10% | 2,068,031 | $841,709,000 |
| — | CANADIAN PAC RY LTD | 2.34% | 2,944,259 | $243,019,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| LOW | LOWES COS INC | 25.01% | 10,236,471 | $2,645,923,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 18.57% | 12,594,336 | $1,964,590,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 18.42% | 1,114,725 | $1,948,818,000 |
| QSR | RESTAURANT BRANDS INTL INC | 13.73% | 23,937,248 | $1,452,512,000 |
| — | HOWARD HUGHES CORP | 13.10% | 13,620,164 | $1,386,260,000 |
| DPZ | DOMINOS PIZZA INC | 11.16% | 2,092,202 | $1,180,692,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| — | CANADIAN PAC RY LTD | 100.00% | 2,813,747 | $202,421,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| LOW | LOWES COS INC | 21.94% | 10,236,471 | $2,076,571,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 21.41% | 1,114,725 | $2,026,035,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 17.99% | 12,885,354 | $1,702,284,000 |
| QSR | RESTAURANT BRANDS INTL INC | 15.48% | 23,937,248 | $1,464,720,000 |
| — | HOWARD HUGHES CORP | 12.64% | 13,620,164 | $1,195,987,000 |
| DPZ | DOMINOS PIZZA INC | 10.54% | 2,092,202 | $997,897,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| LOW | LOWES COS INC | 18.37% | 10,140,520 | $1,966,957,000 |
| A | AGILENT TECHNOLOGIES INC | 16.14% | 11,695,838 | $1,728,762,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 15.72% | 1,086,136 | $1,683,880,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 14.37% | 12,760,047 | $1,539,117,000 |
| QSR | RESTAURANT BRANDS INTL INC | 14.26% | 23,696,917 | $1,527,029,000 |
| — | HOWARD HUGHES CORP | 12.26% | 13,470,008 | $1,312,787,000 |
| DPZ | DOMINOS PIZZA INC | 8.88% | 2,039,170 | $951,252,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| LOW | LOWES COS INC | 21.74% | 11,958,315 | $2,274,232,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 14.89% | 12,878,636 | $1,557,285,000 |
| QSR | RESTAURANT BRANDS INTL INC | 14.87% | 23,926,652 | $1,555,232,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 14.75% | 1,086,136 | $1,543,204,000 |
| A | AGILENT TECHNOLOGIES INC | 14.35% | 11,804,536 | $1,500,829,000 |
| — | HOWARD HUGHES CORP | 12.25% | 13,470,008 | $1,281,402,000 |
| DPZ | DOMINOS PIZZA INC | 7.16% | 2,035,704 | $748,712,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| LOW | LOWES COS INC | 19.88% | 12,387,587 | $1,988,332,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 16.10% | 1,161,232 | $1,610,292,000 |
| QSR | RESTAURANT BRANDS INTL INC | 15.30% | 25,038,527 | $1,530,104,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 14.85% | 13,350,206 | $1,485,344,000 |
| A | AGILENT TECHNOLOGIES INC | 14.49% | 12,236,107 | $1,449,856,000 |
| SBUX | STARBUCKS CORP | 10.77% | 10,070,042 | $1,077,293,000 |
| — | HOWARD HUGHES CORP | 8.62% | 10,918,008 | $861,758,000 |
| Ticker | Company | Portfolio | Shares | Reported value |
|---|---|---|---|---|
| LOW | LOWES COS INC | 23.33% | 12,408,077 | $2,058,004,000 |
| QSR | RESTAURANT BRANDS INTL INC | 16.37% | 25,119,016 | $1,444,595,000 |
| CMG | CHIPOTLE MEXICAN GRILL INC | 16.37% | 1,161,232 | $1,444,236,000 |
| A | AGILENT TECHNOLOGIES INC | 14.01% | 12,248,514 | $1,236,365,000 |
| HLT | HILTON WORLDWIDE HLDGS INC | 12.92% | 13,363,011 | $1,140,132,000 |
| SBUX | STARBUCKS CORP | 9.87% | 10,131,008 | $870,456,000 |
| — | HOWARD HUGHES CORP | 7.13% | 10,918,008 | $628,877,000 |
Investor background
Bill Ackman
“Simple, predictable, and free-cash-flow-generative.”
Bill Ackman is the founder and chief executive officer of Pershing Square, a concentrated investment firm formed in 2003 and active as an investment manager since 2004. His approach combines fundamental business analysis, valuation discipline and, where useful, active engagement with corporate boards and management teams.
Pershing Square generally invests in a limited number of large companies with understandable economics, recurring cash generation, strong competitive positions and conservative financing. Ackman seeks situations in which market expectations underestimate a company’s long-term potential or overstate the effect of temporary problems. The firm may also identify opportunities to improve growth, efficiency, governance or capital allocation.
Ackman is worth following because his portfolio is concentrated enough for each major position to matter, while Pershing Square publishes unusually detailed letters, presentations and regulatory disclosures. These materials allow investors to compare the original investment thesis with subsequent corporate performance and the manager’s later decisions. His process is therefore more observable and testable than that of many private hedge-fund managers.
His principal strength is the combination of an investor’s valuation perspective with an owner’s willingness to influence how a company is managed. He is also willing to hold positions for multiple years and to use limited-risk asymmetric hedges when he believes a specific macroeconomic threat could damage the broader portfolio.
Ackman is not merely Pershing Square’s public spokesperson. A 2026 SEC filing identifies him as the firm’s sole portfolio manager and states that he retains ultimate decision-making authority over every portfolio position. The investment team, including Chief Investment Officer Ryan Israel, conducts research and participates in formal investment discussions, but final responsibility currently remains with Ackman.