Data as of Q4 2025 (Dec 31, 2025)

Pershing Square Capital Management, L.P.

Bill Ackman•CIK: 1336528•Filing: Q4 2025

Pershing Square Capital Management, L.P., managed by Bill Ackman, holds $15.5 billion in assets with a concentrated portfolio, notably increasing its Amazon stake by 73% and adding Meta Platforms. The fund has significantly reduced its Google position by 82% and exited Chipotle, reflecting a strategic shift towards tech giants like Amazon and Meta.

Total AUM
$15.5B
QoQ Performance
+6.0%
Positions
10
Top 10 Concentration
99.5%
Latest Filing
Q4 2025

Top Holdings Allocation

BN
UBER
AMZN
GOOG
META
QSR
HHH
HLT
BN18.1%
UBER15.9%
AMZN14.3%
GOOG12.5%
META11.4%
QSR10.0%
HHH9.7%
HLT5.6%

📈 Biggest Buys

META
META PLATFORMS INC
NEW
11.4% of portfolio
BN
BROOKFIELD CORP
+49.7%
18.1% of portfolio
AMZN
AMAZON COM INC
+65.0%
14.3% of portfolio

📉 Biggest Sells

GOOGL
ALPHABET INC
-86.0%
1.4% of portfolio
GOOG
ALPHABET INC
-2.5%
12.5% of portfolio
UBER
UBER TECHNOLOGIES INC
-0.2%
15.9% of portfolio
QSR
RESTAURANT BRANDS INTL INC
-0.2%
10.0% of portfolio
HLT
HILTON WORLDWIDE HLDGS INC
-0.1%
5.6% of portfolio

Sector Breakdown

Consumer46.3%
Technology25.2%
Financial18.1%
Real Estate10.3%

🚪 Exited Positionssold since Q3 2025

CMG
CHIPOTLE MEXICAN GRILL INC
SOLD
$844.2M

Changes from Q3 2025

NEW1 new position
↑2 increased
↓5 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

BN18.1%
BROOKFIELD CORP
$2.8B
UBER15.9%
UBER TECHNOLOGIES INC
$2.5B
AMZN14.3%
AMAZON COM INC
$2.2B
GOOG12.5%
ALPHABET INC
$1.9B
META11.4%
META PLATFORMS INC
$1.8B

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