Bill Ackman - Pershing Square Capital Management, L.P.

Bill Ackman - Pershing Square Capital Management,

Period:    Q1 2026
Portfolio date:    31 Mar 2026
No. of stocks:    11
Portfolio value:    $13,714,299,861

Holdings Activity Buys Sells History

Period	Portfolio Value	Top 20 holdings history (left to right)
2026 Q1	$13.71 B	BN	AMZN	UBER	MSFT	QSR	META	HHH	SEG	GOOG	HTZ	GOOGL
2025 Q4	$15.53 B	BN	UBER	AMZN	GOOG	META	QSR	HHH	HLT	GOOGL	SEG	HTZ
2025 Q3	$14.64 B	UBER	BN	HHH	GOOG	QSR	AMZN	GOOGL	CMG	HLT	SEG	HTZ
2025 Q2	$13.73 B	UBER	BN	QSR	AMZN	HHH	CMG	GOOG	GOOGL	HLT	HTZ	SEG
2025 Q1	$11.93 B	UBER	BN	QSR	HHH	CMG	CP	GOOG	GOOGL	HLT	SEG	HTZ
2024 Q4	$12.61 B	BN	QSR	CMG	HHH	GOOG	NKE	HLT	CP	GOOGL	SEG
2024 Q3	$12.92 B	BN	HLT	CMG	QSR	HHH	NKE	CP	GOOG	GOOGL	SEG	SEG-R
2024 Q2	$10.41 B	HLT	CMG	QSR	GOOG	HHH	CP	GOOGL	BN	NKE
2024 Q1	$10.76 B	CMG	HLT	QSR	GOOG	HHH	CP	GOOGL
2023 Q4	$10.40 B	CMG	QSR	HLT	HHH	GOOG	CP	GOOGL	LOW
2023 Q3	$10.49 B	CMG	QSR	HLT	LOW	HHH	GOOG	CP	GOOGL
2023 Q2	$10.82 B	CMG	QSR	LOW	HLT	HHC	CP	GOOG	GOOGL
2023 Q1	$9.04 B	LOW	CMG	QSR	HLT	HHC	GOOG	GOOGL
2022 Q4	$7.65 B	LOW	QSR	CMG	HLT	HHC
2022 Q3	$6.86 B	LOW	CMG	QSR	HLT	HHC
2022 Q2	$7.26 B	LOW	CMG	QSR	HLT	HHC	DPZ
2022 Q1	$10.15 B	LOW	CMG	HLT	HHC	QSR	NFLX	DPZ
2021 Q4	$10.58 B	LOW	HLT	CMG	QSR	HHC	DPZ
2021 Q3	$9.46 B	LOW	CMG	HLT	QSR	HHC	DPZ
2021 Q2	$10.71 B	LOW	A	CMG	HLT	QSR	HHC	DPZ
2021 Q1	$10.46 B	LOW	HLT	QSR	CMG	A	HHC	DPZ
2020 Q4	$10.00 B	LOW	CMG	QSR	HLT	A	SBUX	HHC
2020 Q3	$8.82 B	LOW	CMG	QSR	A	HLT	SBUX	HHC
2020 Q2	$7.75 B	LOW	QSR	CMG	A	HLT	SBUX	HHC
2020 Q1	$6.57 B	LOW	BRK.B	HLT	A	CMG	SBUX	HHC	QSR	BX	PK
2019 Q4	$6.55 B	CMG	HLT	LOW	QSR	BRK.B	SBUX	HHC	A
2019 Q3	$6.27 B	CMG	QSR	HLT	LOW	BRK.B	SBUX	HHC
2019 Q2	$6.71 B	CMG	QSR	HLT	LOW	SBUX	BRK.B	ADP	HHC
2019 Q1	$6.72 B	CMG	QSR	LOW	HLT	UTX	SBUX	ADP	HHC
2018 Q4	$5.54 B	QSR	LOW	CMG	HLT	SBUX	UTX	ADP	HHC
2018 Q3	$4.70 B	QSR	LOW	CMG	UTX	ADP	HHC
2018 Q2	$5.34 B	QSR	CMG	LOW	MDLZ	UTX	ADP	HHC
2018 Q1	$4.44 B	QSR	CMG	ADP	MDLZ	HHC	UTX
2017 Q4	$5.47 B	QSR	ADP	MDLZ	CMG	HHC	NKE
2017 Q3	$4.66 B	QSR	ADP	CMG	MDLZ	HHC
2017 Q2	$5.50 B	QSR	CMG	MDLZ	HHC	NOMD	ADP
2017 Q1	$5.43 B	QSR	CMG	MDLZ	HHC	NOMD	APD
2016 Q4	$5.25 B	QSR	CMG	MDLZ	APD	HHC	NOMD
2016 Q3	$4.54 B	QSR	MDLZ	APD	HHC	NOMD	CMG	ZTS
2016 Q2	$5.43 B	QSR	APD	MDLZ	ZTS	HHC	NOMD
2016 Q1	$6.07 B	ZTS	QSR	APD	MDLZ	HHC	NOMD
2015 Q4	$8.45 B	APD	ZTS	MDLZ	QSR	HHC
2015 Q3	$7.93 B	APD	MDLZ	ZTS	QSR	HHC
2015 Q2	$6.79 B	APD	ZTS	QSR	HHC
2015 Q1	$7.46 B	APD	ZTS	QSR	HHC	ACT-W
2014 Q4	$12.36 B	AG4	APD	ZTS	QSR	HHC
2014 Q3	$9.70 B	AG4	APD	BKW	HHC	ZTS
2014 Q2	$9.14 B	AG4	APD	BKW	HHC
2014 Q1	$5.05 B	APD	BKW	BJM	HHC	AG4	HME
2013 Q4	$5.63 B	APD	BJM	BKW	GGP*	HHC	PG
2013 Q3	$5.53 B	APD	BJM	BKW	GGP*	HHC	PG
2013 Q2	$6.09 B	GGP*	BJM	APD	BKW	PG	JCP*	HHC	MATX
2013 Q1	$6.11 B	PG	GGP*	BJM	JCP*	HHC	MDLZ
2012 Q4	$5.98 B	PG	GGP*	BJM	JCP*	HHC
2012 Q3	$6.24 B	PG	GGP*	BJM	JCP*	HHC
2012 Q2	$5.59 B	PG	GGP*	BJM	JCP*	HHC
2012 Q1	$4.94 B	JCP*	GGP*	BJM	KFT	FBIN	HHC
2011 Q4	$4.83 B	JCP*	GGP*	BJM	KFT	FBIN	HHC
2011 Q3	$3.33 B	JCP*	GGP*	KFT	LOW	HHC
2011 Q2	$3.58 B	JCP*	GGP*	KFT	HHC	GLRE
2011 Q1	$3.58 B	JCP*	GGP*	KFT	HHC	CXW*	GLRE
2010 Q4	$4.08 B	JCP*	GGP*	KFT	TGT	GM	CXW*	HHC	BGPIQ	GLRE
2010 Q3	$2.36 B	KFT	TGT	JCP*	CXW*	LNY	BGPIQ	GLRE
2010 Q2	$2.23 B	TGT	KFT	CXW*	LNY	BGPIQ	GLRE
2010 Q1	$2.35 B	TGT	KFT	CXW*	LNY	BGPIQ	GLRE
2009 Q4	$1.41 B	TGT	CXW*	H	LNY	BGPIQ	GLRE
2009 Q3	$2.42 B	TGT	EMC	CXW*	BGPIQ	GLRE
2009 Q2	$1.87 B	TGT	EMC	BGPIQ	GLRE
2009 Q1	$1.73 B	TGT	EMC	V	BGPIQ	GLRE	ALX
2008 Q4	$2.18 B	TGT	EMC	V	2777284Z	SHLDQ	BGPIQ	GLRE	ALX
2008 Q3	$3.59 B	TGT	EMC	2777284Z	FTU	LDG	BKS	V	AAIG	MA	BGPIQ	SHLDQ	GLRE
2008 Q2	$2.45 B	TGT	SHLDQ	2777284Z	3022239Q	BKS	BGPIQ	GLRE	MBI	LDG	CDSCY
2008 Q1	$2.34 B	TGT	SHLDQ	BKS	3022239Q	BGPIQ	GLRE	MBI
2007 Q4	$1.35 B	SHLDQ	TGT	BKS	BGPIQ	GLRE	ABKFQ	MBI
2007 Q3	$1.93 B	0860320D	SHLDQ	BKS	TGT	BGPIQ	GLRE
2007 Q2	$1.51 B	0860320D	BKS	SPLS*	BGPIQ	TGT	IYR
2007 Q1	$1.11 B	0860320D	BKS	BGPIQ
2006 Q4	$812 M	0860320D	BKS	BGPIQ
2006 Q3	$870 M	3022239Q	BKS	BGPIQ	BDK	0062761Q
2006 Q2	$166 M	3022239Q	BKS	0062761Q
2006 Q1	$669 M	SHLDQ	HNZ	VIAB	3022239Q	KSS	0062761Q
2005 Q4	$363 M	SHLDQ	3022239Q	ODP	0910150D	0062761Q