Bill Ackman

Pershing Square Inc.

as of Dec 31, 2025 · filed Feb 17, 2026 · 48-day reporting lag · historical report

Source filings

13F-HR 0001172661-26-001091

QuarterCompare any two quarters

Portfolio value$15.5B 6.0% vs. previous quarter

Positions101 new · 1 sold

Top 573.5%largest BN at 18.1%

Largest moveMETANew · 11.4% weight

Concentration

How much of the portfolio the biggest positions add up to. Hover the curve, or focus it and use the arrow keys, to inspect each rank.

Longest held

One block per imported quarter, oldest at the left. A full row means held in all of them, not that the position began there.

10%held throughout

QSR26

HLT24

GOOG13

GOOGL13

HHH12

Top 3 moves

META+11.4%

AMZN+5.6%

GOOG−4.7%

1 new position and 1 sold; the largest portfolio-weight shift was META entering at 11.4%.

Holdings

Reported price is value divided by shares, the manager’s quarter-end mark rather than a traded price.

Sorted by portfolio weight, high to low

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Reported holdings for Q4 2025

BNBROOKFIELD CORPReal Estate	18.1%-1.1%	Increased49.7%	61,403,089	$45.89	$2.82B
UBERUBER TECHNOLOGIES INCConsumer Discretionary	15.9%-4.4%	Reduced0.2%	30,207,734	$81.71	$2.47B
AMZNAMAZON.COM INCConsumer DiscretionarySupply chain (as of Q2 2026)	14.3%+5.6%	Increased65.0%	9,607,824	$230.82	$2.22B
GOOGALPHABET INCCommunication ServicesGOOG · GOOGLSupply chain (as of Q2 2026)	13.8%-4.7%	Reduced	GOOG6,163,871GOOGL678,297	GOOG$313.80GOOGL$313.00	$2.15B
METANEWMETA PLATFORMS INC-CLASS ACommunication Services	11.4%+11.4%	New	2,673,569	$660.09	$1.76B
QSRRESTAURANT BRANDS INTERNConsumer Discretionary	10.0%	Reduced0.2%	22,866,773	$68.23	$1.56B
HHHHOWARD HUGHES HOLDINGS INCReal Estate	9.7%-0.9%	Unchanged	18,852,064	$79.77	$1.50B
HLTHILTON WORLDWIDE HOLDINGS INConsumer Discretionary	5.6%+0.2%	Reduced0.1%	3,028,664	$287.25	$870.0M
SEGSEAPORT ENTERTAINMENT GROUPConsumer Discretionary	0.6%-0.1%	Unchanged	5,023,780	$19.77	$99.3M
HTZHERTZ GLOBAL HLDGS INCConsumer Discretionary	0.5%-0.2%	Unchanged	15,241,127	$5.14	$78.3M