---
name: Copy Pershing Square Capital Mgmt
kind: hedgecopy-fund
cik: 0001336528
latest_13f_period: 2026-06-30
latest_13f_filed: 2026-08-14
author: HedgeCopy
---

# Copy Pershing Square Capital Mgmt (13F follow-the-filing)

Pershing Square Capital Mgmt files a 13F-HR with the SEC each quarter (CIK 0001336528). This skill describes a
long-only copy portfolio built from that filing, bought the trading day after it is filed.

## Track record (estimated from 13F holdings, net of 10 bps per unit of turnover)
- Annualised return copying the filings, last 3 years (headline): +14.7% vs SPY +22.9% (alpha -8.2%/yr)
- Annualised since the series started (2021-02-19 to 2026-10-09): +11.8% vs SPY +14.5%
- Follow-the-filing TTM: +7.3% vs SPY +16.2% (alpha -8.9%)
- Quarters of history: 23; average coverage 100%; flags: none

## Latest disclosed top holdings (2026-06-30)
| # | Ticker | Issuer | Weight |
|---|---|---|---|
| 1 | UBER | UBER TECHNOLOGIES INC | 12.7% |
| 2 | BN | BROOKFIELD CORP | 12.6% |
| 3 | MSFT | MICROSOFT CORP | 11.9% |
| 4 | AMZN | AMAZON COM INC | 10.5% |
| 5 | HHH | HOWARD HUGHES HOLDINGS INC | 10.2% |
| 6 | QSR | RESTAURANT BRANDS INTL INC | 9.6% |
| 7 | META | META PLATFORMS INC | 9.2% |
| 8 | V | VISA INC | 5.8% |
| 9 | MA | MASTERCARD INCORPORATED | 5.6% |
| 10 | SPGI | S&P GLOBAL INC | 5.4% |
| 11 | NFLX | NETFLIX INC. | 4.8% |
| 12 | PSUS | PERSHING SQUARE USA LTD | 0.8% |
| 13 | SEG | SEAPORT ENTMT GROUP INC | 0.7% |
| 14 | HTZ | HERTZ GLOBAL HLDGS INC | 0.2% |

## 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
- Type: Activist, Long/short equity
- Founders: Bill Ackman
- Key people: Bill Ackman (Chief Executive Officer and Chairman of the Board); Ben Hakim (President and Director); Michael Gonnella (Chief Financial Officer); Ryan Israel (Chief Investment Officer and Director); Halit Coussin (Chief Legal Officer, Chief Compliance Officer and Director)
- Founded 2003 · HQ New York City, United States
- Reported AUM: $33.0bn (as of September 30, 2026)
- Website: https://pershingsquareinc.com/

### 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
- Herbalife (2012): Activist campaign against the company, which the firm labeled a pyramid scheme.
- General Growth Properties (2009): The firm helped the company emerge from Chapter 11 bankruptcy protection.
- Universal Music Group (2021): Acquired a 10% stake in the company.
- Netflix (2022): Acquired a stake in the company following a subscriber growth selloff.
- Chipotle Mexican Grill (2016): Acquired a 9.9% stake in the company.

_Profile generated 2026-10-09 from public sources; may be incomplete or out of date._

## Rules
- Hold the top 20 long US-equity positions from the latest 13F-HR, weighted as reported.
- Rebalance on the first trading day after each new 13F-HR is filed. Cash only, paper only.

## Parameters
```json
{
  "params": {
    "funds": [
      "0001336528"
    ],
    "top_n": 20,
    "weighting": "13f",
    "rebalance": "filing_plus_1",
    "budget_usd": 10000,
    "stop_loss_pct": null,
    "cash_only": true
  }
}
```

> Estimated from 13F holdings (long US equities only; no shorts, options, cash or fees). Past performance is not a guide to the future. Not investment advice. Paper trading only.