Bill Ackman portfolio
Latest holdings of Pershing Square Capital Management as of Q2 2026: 14 positions worth $19.5B, decoded into plain English.
Portfolio summary and charts
- Uber Technologies (UBER) is the largest position at 12.7% of a $19.5B portfolio.
- Biggest buy: opened a new position in Visa, about $1.1B of new money.
- Biggest sale: trimmed Amazon, about $688M.
- Very high conviction: the top 10 holdings make up 94%, and the portfolio behaves like 10 equal-sized bets.
Every box is a position, sized by its weight
What this meansUber Technologies alone is 13% of the portfolio, and the top three make up 37%. Colors show what changed since last quarter, so you can spot fresh conviction at a glance.
Where the money is
What this meansReal Estate is the biggest slice at 23% of the portfolio.
How focused is the portfolio?
What this meansThe steeper the gold curve rises above the dashed line, the more the portfolio depends on a few big bets. It behaves like 10 equal-sized positions.
Biggest buys and sells
What this meansThe largest move was opening Visa, worth about $1.1B. Values are estimated at quarter-end prices.
Two years of reported value
What this meansValue changes with both market prices and new money in or out. It moved from $10.4B to $19.5B over 9 quarters.
How today’s top positions grew over time
What this meansWide, steady bands are long-term core holdings; bands that appear suddenly are recent bets.
All 14 positions
| # | Stock | Sector | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|---|---|
| 1 | UBER Uber Technologies | Industrials | 12.72% | Added +15% | 34,326,200 | $2.5B |
| 2 | BN Brookfield | Real Estate | 12.58% | Trimmed −4% | 57,481,047 | $2.4B |
| 3 | MSFT Microsoft | Technology | 11.89% | Added +10% | 6,206,730 | $2.3B |
| 4 | AMZN Amazon | Consumer Discretionary | 10.49% | Trimmed −25% | 8,563,857 | $2.0B |
| 5 | HHH Howard Hughes | Real Estate | 10.23% | Added +48% | 27,852,064 | $2.0B |
| 6 | QSR Restaurant Brands International | Consumer Discretionary | 9.62% | Added +14% | 25,821,284 | $1.9B |
| 7 | META Meta Platforms | Communication | 9.25% | Added +20% | 3,196,062 | $1.8B |
| 8 | V Visa | Financials | 5.76% | New | 3,270,470 | $1.1B |
| 9 | MA Mastercard | Financials | 5.61% | New | 2,124,646 | $1.1B |
| 10 | SPGI S&P Global | Financials | 5.43% | New | 2,593,155 | $1.1B |
| 11 | NFLX Netflix | Communication | 4.80% | New | 13,081,465 | $934M |
| 12 | PSUS Pershing Square USA | Other | 0.77% | New | 4,000,000 | $150M |
| 13 | SEG Seaport Entertainment | Consumer Discretionary | 0.69% | Hold | 5,023,780 | $134M |
| 14 | HTZ Hertz Global | Consumer Discretionary | 0.17% | Trimmed −2% | 14,991,599 | $34M |
Values as reported at quarter end (30 Jun 2026). Activity compares share counts with the Q1 2026 filing. Source: SEC filing 0001172661-26-003790 · all filings on EDGAR.
Bill Ackman
Bill Ackman founded Pershing Square in 2004. He runs a small number of large, high-conviction positions in simple, predictable, cash-generating businesses, and sometimes pushes management for change. Part of the capital is permanent, through the London-listed Pershing Square Holdings.
Philosophy in brief
- Own a handful of dominant, predictable businesses with high barriers to entry.
- Engage with management when change can unlock value.
- Use permanent capital so short-term swings don’t force selling.
How to read this page
Who else is trading these holdings
- 01UBER Uber Technologies7 congressional trades disclosed (4 buys) · insiders bought $15M in Q3 202612.7% of portfolio
- 03MSFT Microsoft56 congressional trades disclosed (31 buys)11.9% of portfolio
- 04AMZN Amazon16 congressional trades disclosed (7 buys)10.5% of portfolio
- 05HHH Howard Hughesinsiders bought $2M in Q3 202610.2% of portfolio
- 06QSR Restaurant Brands International1 congressional trade disclosed (1 buys)9.6% of portfolio
- 07META Meta Platforms16 congressional trades disclosed (10 buys)9.2% of portfolio
- 08V Visa7 congressional trades disclosed (2 buys)5.8% of portfolio
- 09MA Mastercard6 congressional trades disclosed (1 buys)5.6% of portfolio
Investors who think alike
Cosine similarity of position weights (100 = identical portfolios). Chips show the biggest shared holdings.
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