Consulta
LONDON, X0files as Consulta Ltd
$2.8bn in 15 US stocks at the end of 30 June 2026. The top 10 are 82.9% of the money. It changed about 27.3% of the portfolio this quarter.
Value
$2.8bn
Stocks
15
Top 10 share
82.9%
Turnover
27.3%
What changed this quarter
New
Bought for the first time this quarter.
- Pershing SquarePS10.1% of the fund
- Waste ConnectionsWCN6.3% of the fund
- HCA HealthcareHCA5.6% of the fund
- Pershing Square USAPSUS4.0% of the fund
Added
Bought more of a stock they already held.
- AirbnbABNB10.8% of the fund+17%
- VisaV9.9% of the fund+7%
- MicrosoftMSFT9.4% of the fund+4%
- QXOQXO7.5% of the fund+9%
- ProgressivePGR7.1% of the fund+50%
- NetflixNFLX6.6% of the fund+70%
Cut
Sold some of their stake.
- Amazon.comAMZN9.5% of the fund-7%
- AlphabetGOOGL3.9% of the fund-32%
Sold out
Sold their entire stake.
- DanaherDHR-100%
- Canadian Pacific Kansas CityCP-100%
Holdings
- Pershing SquarePS
- Share
- 10.1%
- Value
- $281m
- Shares
- 8,558,954
New
- Pershing Square USAPSUS
- Share
- 4.0%
- Value
- $112m
- Shares
- 3,000,000
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| AirbnbABNB | 10.8% | $301m | 2,100,000 | +17% |
| Pershing SquarePS | 10.1% | $281m | 8,558,954 | New |
| VisaV | 9.9% | $274m | 800,000 | +7% |
| Amazon.comAMZN | 9.5% | $262m | 1,100,000 | -7% |
| MicrosoftMSFT | 9.4% | $261m | 700,000 | +4% |
| QXOQXO | 7.5% | $207m | 12,000,000 | +9% |
| ProgressivePGR | 7.1% | $197m | 900,000 | +50% |
| NetflixNFLX | 6.6% | $182m | 2,550,000 | +70% |
| Waste ConnectionsWCN | 6.3% | $175m | 1,050,000 | New |
| HCA HealthcareHCA | 5.6% | $156m | 400,000 | New |
| Union PacificUNP | 4.4% | $122m | 450,000 | Held |
| Pershing Square USAPSUS | 4.0% | $112m | 3,000,000 | New |
| MsciMSCI | 4.0% | $112m | 200,000 | Held |
| AlphabetGOOGL | 3.9% | $107m | 300,000 | -32% |
| Howard Hughes HoldingsHHH | 0.8% | $21m | 300,000 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 77.2% since 30 June 2025.
Where the money is
Financial services31.2%
Retail & consumer20.3%
Industrials11.9%
Media & telecom10.4%
Technology9.4%
Utilities6.3%
Health care5.6%
Real estate0.8%
Other4.0%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.