Pershing Square Capital Management 13F Holdings — Q1 2026

Pershing Square Capital Management reported 10 US-listed positions worth $11.3B in its 13F for the quarter ended 2026-03-31 (filed 2026-05-15), according to EquiReason's reading of the SEC filing. New positions in Q1 2026: MSFT. Sold out: HLT.

For Q2 2026 it filed a 13F-NT notice: those holdings are reported in another manager's filing.

Source: 13F-HR on SEC EDGAR · values as the fund reported them · 10 of 11 reported lines matched to US-listed companies (funds, ETFs, options and non-US listings are left out)

Largest positions

#	Company	Value	% of portfolio	Shares	Change in shares
1	AMZN AMAZON COM INC	$2.4B	21.1%	11.45M	Added (+19.2%)
2	UBER UBER TECHNOLOGIES INC	$2.2B	19.1%	29.96M	Trimmed (-0.8%)
3	MSFT MICROSOFT CORP	$2.1B	18.5%	5.65M	New
4	QSR RESTAURANT BRANDS INTL INC	$1.7B	14.8%	22.65M	Trimmed (-1.0%)
5	META META PLATFORMS INC	$1.5B	13.5%	2.66M	Trimmed (-0.5%)
6	HHH HOWARD HUGHES HOLDINGS INC	$1.2B	10.6%	18.85M	Unchanged
7	SEG SEAPORT ENTMT GROUP INC	$107.9M	1.0%	5.02M	Unchanged
8	GOOG ALPHABET INC	$89.4M	0.8%	311,726	Trimmed (-94.9%)
9	HTZ HERTZ GLOBAL HLDGS INC	$70.3M	0.6%	15.24M	Unchanged
10	GOOGL ALPHABET INC	$9.3M	0.1%	32,376	Trimmed (-95.2%)

New positions in Q1 2026

#	Company	Value	% of portfolio	Shares
1	MSFT MICROSOFT CORP	$2.1B	18.5%	5.65M

Sold out in Q1 2026

held at the end of the prior quarter, gone now

Company	Value a quarter earlier	Shares a quarter earlier
HLT	$870.0M	3.03M

Added to

#	Company	Value	% of portfolio	Shares	Change in shares
1	AMZN AMAZON COM INC	$2.4B	21.1%	11.45M	Added (+19.2%)

Trimmed

#	Company	Value	% of portfolio	Shares	Change in shares
1	GOOG ALPHABET INC	$89.4M	0.8%	311,726	Trimmed (-94.9%)
2	GOOGL ALPHABET INC	$9.3M	0.1%	32,376	Trimmed (-95.2%)
3	UBER UBER TECHNOLOGIES INC	$2.2B	19.1%	29.96M	Trimmed (-0.8%)
4	QSR RESTAURANT BRANDS INTL INC	$1.7B	14.8%	22.65M	Trimmed (-1.0%)
5	META META PLATFORMS INC	$1.5B	13.5%	2.66M	Trimmed (-0.5%)

Where all the funds moved together. Which companies the tracked funds crowded into or left together this quarter — and how that compares with the quarters before — is in Research Pro. See plans

Pershing Square Capital Management — questions

What does Pershing Square Capital Management own?: Its largest US-listed positions at the end of Q1 2026: AMZN (21.1%), UBER (19.1%), MSFT (18.5%), QSR (14.8%), META (13.5%).
What did Pershing Square Capital Management buy in Q1 2026?: New positions: MSFT. It added to 1 existing positions.
What did Pershing Square Capital Management sell in Q1 2026?: It sold out of HLT and trimmed 5 positions.
When did Pershing Square Capital Management file its latest 13F?: On 2026-05-15, for the quarter ended 2026-03-31. 13F filings are due 45 days after each quarter ends.

How these figures are read: methodology · EquiReason.

Important information. Holdings on this page are taken from Form 13F filings submitted to the U.S. Securities and Exchange Commission (SEC) and processed automatically by EquiReason. 13F filings are reported up to 45 days after quarter end, list only long positions in certain U.S.-listed securities, and may not reflect the manager's current holdings. They may contain errors, omissions or delays, and EquiReason makes no representation or warranty as to their accuracy, completeness or timeliness. Always verify figures against the original filing on SEC EDGAR before relying on them.

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