Pershing Square Capital Management, L.P.
New York, NY
$13.7bn in 11 US stocks at the end of 31 March 2026. The top 10 are 99.9% of the money. It changed about 20.7% of the portfolio this quarter.
Value
$13.7bn
Stocks
11
Top 10 share
99.9%
Turnover
20.7%
What changed this quarter
New
Bought for the first time this quarter.
- MicrosoftMSFT15.3% of the fund
Added
Bought more of a stock they already held.
- Amazon.comAMZN17.4% of the fund+19%
Cut
Sold some of their stake.
- BrookfieldBN17.6% of the fund-3%
- AlphabetGOOG0.7% of the fund-95%
- AlphabetGOOGL<0.1% of the fund-95%
Sold out
Sold their entire stake.
Holdings
- BrookfieldBN
- Share
- 17.6%
- Value
- $2.4bn
- Shares
- 59,697,208
-3%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| BrookfieldBN | 17.6% | $2.4bn | 59,697,208 | -3% |
| Amazon.comAMZN | 17.4% | $2.4bn | 11,451,981 | +19% |
| Uber TechnologiesUBER | 15.7% | $2.2bn | 29,958,771 | Held |
| MicrosoftMSFT | 15.3% | $2.1bn | 5,654,078 | New |
| Restaurant Brands InternationalQSR | 12.2% | $1.7bn | 22,645,483 | Held |
| Meta PlatformsMETA | 11.1% | $1.5bn | 2,660,861 | Held |
| Howard Hughes HoldingsHHH | 8.7% | $1.2bn | 18,852,064 | Held |
| Seaport Entertainment GroupSEG | 0.8% | $108m | 5,023,780 | Held |
| AlphabetGOOG | 0.7% | $89m | 311,726 | -95% |
| Hertz Global HoldingsHTZ | 0.5% | $70m | 15,241,127 | Held |
| AlphabetGOOGL | <0.1% | $9m | 32,376 | -95% |
Over time and by industry
Value over time
Sep '25
Mar '26
Value is down 0.1% since 30 June 2025.
Where the money is
Retail & consumer30.9%
Real estate26.3%
Industrials15.7%
Technology15.3%
Media & telecom11.8%
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.