Pershing Square Capital Mgmt
Bill Ackman · CIK 0001336528 · latest 13F for 2026-06-30 filed 2026-08-14
Estimated from 13F holdings — long US equities only; follow-the-filing returns are net of an assumed 10 bps per unit of turnover.
About the fund
Pershing Square Capital Management is a leading alternative asset management firm founded by Bill Ackman in 2003. The firm specializes in concentrated, research-intensive, fundamental value investing, often employing activist strategies to drive long-term shareholder value through its permanent capital vehicles.
Strategy
Activist, long-term, concentrated, fundamental value investing
Investment approach
The firm is a concentrated, research-intensive, fundamental value investor that focuses on high-quality, large-capitalization, growth companies. It typically holds a concentrated portfolio of 8 to 12 core investments, aiming to maximize long-term capital appreciation. The firm may also act as a catalyst for corporate change through activist techniques and utilizes asymmetric hedges to protect against macroeconomic risks.
History
Pershing Square Capital Management was founded by Bill Ackman in 2003. The firm has grown into a leading alternative asset management company, utilizing permanent capital vehicles to pursue its investment strategies. Over its history, the firm has engaged in various activist campaigns and launched multiple investment vehicles, including Pershing Square Holdings and Pershing Square USA.
Notable positions & campaigns
- Herbalife2012 — Activist campaign against the company, which the firm labeled a pyramid scheme.
- General Growth Properties2009 — The firm helped the company emerge from Chapter 11 bankruptcy protection.
- Universal Music Group2021 — Acquired a 10% stake in the company.
- Netflix2022 — Acquired a stake in the company following a subscriber growth selloff.
- Chipotle Mexican Grill2016 — Acquired a 9.9% stake in the company.
Profile generated 2026-10-09 from public sources; may be incomplete or out of date.
- Founded by
- Bill Ackman
- Founded
- 2003
- HQ
- New York City, United States
- Reported AUM
- $33.0bn (as of September 30, 2026)
- Website
- pershingsquareinc.com
Management
- Bill AckmanChief Executive Officer and Chairman of the Board
- Ben HakimPresident and Director
- Michael GonnellaChief Financial Officer
- Ryan IsraelChief Investment Officer and Director
- Halit CoussinChief Legal Officer, Chief Compliance Officer and Director
Holdings heatmap
Latest 13F (2026-06-30): top 14 positions grouped by sector, sized by weight, coloured by the change in weight since the previous 13F.
Holdings map
Each tile is a position, sized by reported value and coloured by the stock's own price return (red down, green up) — the LiquidRound / finviz-style map.
Copy portfolio vs SPY
Growth of $1 following each filing the trading day after it was filed.
Top holdings
Latest 13F (2026-06-30).
| # | Ticker | Value | Weight |
|---|---|---|---|
| 1 | UBER | $2.5B | 12.7% |
| 2 | BN | $2.4B | 12.6% |
| 3 | MSFT | $2.3B | 11.9% |
| 4 | AMZN | $2.0B | 10.5% |
| 5 | HHH | $2.0B | 10.2% |
| 6 | QSR | $1.9B | 9.6% |
| 7 | META | $1.8B | 9.2% |
| 8 | V | $1.1B | 5.8% |
| 9 | MA | $1.1B | 5.6% |
| 10 | SPGI | $1.1B | 5.4% |
| 11 | NFLX | $934M | 4.8% |
| 12 | PSUS | $150M | 0.8% |
| 13 | SEG | $134M | 0.7% |
| 14 | HTZ | $34M | 0.2% |
Sector mix
Top-25 holdings by weight.
Changes this quarter
| Move | Ticker | Prev wt | Now wt |
|---|---|---|---|
| trimmed | AMZN | 17.4% | 10.5% |
| new | V | 0.0% | 5.8% |
| new | MA | 0.0% | 5.6% |
| new | SPGI | 0.0% | 5.4% |
| new | NFLX | 0.0% | 4.8% |
| added | MSFT | 15.3% | 11.9% |
| added | UBER | 15.7% | 12.7% |
| added | QSR | 12.2% | 9.6% |
| added | META | 11.1% | 9.2% |
| added | HHH | 8.7% | 10.2% |
| new | PSUS | 0.0% | 0.8% |
| exited | GOOG | 0.7% | 0.0% |
| exited | GOOGL | 0.1% | 0.0% |
Quarterly copy returns
Each 13F held from the day after filing until the next filing.
| 13F period | Copy | SPY | Alpha | Coverage |
|---|---|---|---|---|
| 2026-06-30 | +0.7% | +0.4% | +0.3% | 100% |
| 2026-03-31 | +0.7% | +4.9% | -4.2% | 100% |
| 2025-12-31 | +5.7% | +7.9% | -2.3% | 100% |
| 2025-09-30 | +0.6% | +3.4% | -2.8% | 100% |
| 2025-06-30 | +6.0% | +3.7% | +2.3% | 100% |
| 2025-03-31 | +2.9% | +8.6% | -5.7% | 100% |
| 2024-12-31 | -5.4% | -2.5% | -2.8% | 100% |
| 2024-09-30 | +2.9% | +4.7% | -1.8% | 100% |
| 2024-06-30 | +6.5% | +6.2% | +0.3% | 100% |
| 2024-03-31 | -3.1% | +4.9% | -8.1% | 100% |
| 2023-12-31 | +5.8% | +5.6% | +0.1% | 100% |
| 2023-09-30 | +13.2% | +12.1% | +1.1% | 100% |
| 2023-06-30 | +2.5% | +1.9% | +0.6% | 88% |
| 2023-03-31 | +2.6% | +8.4% | -5.8% | 76% |
| 2022-12-31 | +5.5% | -0.2% | +5.7% | 73% |
| 2022-09-30 | +7.5% | +4.0% | +3.5% | 78% |
Filing dates
- 2026-08-1413F-HR for 2026-06-30 · $19.5B · 15 rows
- 2026-05-1513F-HR for 2026-03-31 · $13.7B · 11 rows
- 2026-05-1513F-HR for 2026-03-31 · $569M · 1 rows
- 2026-02-1713F-HR for 2025-12-31 · $718M · 1 rows
- 2026-02-1713F-HR for 2025-12-31 · $15.5B · 11 rows
- 2025-11-1413F-HR for 2025-09-30 · $740M · 1 rows
- 2025-11-1413F-HR for 2025-09-30 · $14.6B · 11 rows
- 2025-08-1413F-HR for 2025-06-30 · $13.7B · 11 rows
- 2025-08-1413F-HR for 2025-06-30 · $608M · 1 rows
- 2025-05-1513F-HR for 2025-03-31 · $11.9B · 11 rows
- 2025-04-1613F-HR/A for 2024-12-31 · $47M · 1 rows
- 2025-02-1413F-HR for 2024-12-31 · $12.6B · 10 rows
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