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Livermore
Livermore
ZHEN

Pershing Square

Superinvestor

Pershing Square Inc.

SEC CIK
0002026053
Manager
Bill Ackman
Style
Activist
Latest filing
Aug 14, 2026

The latest 13F from Pershing Square covers Q2 2026 (filed Aug 14, 2026): 14 long positions worth $19.5B. The top 10 holdings make up 93.6% of the portfolio, and the largest is Uber Technologies, Inc (UBER) at 12.7%. Livermore has 5 filings on Form 13F from this institution, going back to Q2 2025.

Predecessor filersPershing Square Capital Management, L.P.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
13
Est. +$17.5B
Added
1
Est. +$1.35B
Reduced
0
Sold out
0

Top 5 holdings

Share of this quarter's portfolio value

  1. UBERUber Technologies, Inc
    12.7%$2.48BHistory
  2. BNBROOKFIELD Corp
    12.6%$2.45BHistory
  3. MSFTMicrosoft Corp
    11.9%$2.32BHistory
  4. AMZNAmazon Com Inc
    10.5%$2.04BHistory
  5. HHHHoward Hughes Holdings Inc.
    10.2%$1.99BHistory

Biggest buys

New and added positions, by estimated amount bought

  1. UBERUber Technologies, Inc
    +$2.48BNewHistory
  2. BNBROOKFIELD Corp
    +$2.45BNewHistory
  3. MSFTMicrosoft Corp
    +$2.32BNewHistory
  4. AMZNAmazon Com Inc
    +$2.04BNewHistory
  5. QSRRestaurant Brands International Inc.
    +$1.87BNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. UBERUber Technologies, Inc
    +12.72 pp0.0% → 12.7%History
  2. BNBROOKFIELD Corp
    +12.58 pp0.0% → 12.6%History
  3. MSFTMicrosoft Corp
    +11.89 pp0.0% → 11.9%History
  4. AMZNAmazon Com Inc
    +10.49 pp0.0% → 10.5%History
  5. QSRRestaurant Brands International Inc.
    +9.62 pp0.0% → 9.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

None this quarter.

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

None this quarter.

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$19.5B
+$18.9B (+3,319.0%) vs. prior quarter
Positions
14
+13 vs. prior quarter
Top 10 concentration
93.6%
Top 10 as share of value
Turnover
0.0%
Q2 2026, one quarter
Average holding period
1.4 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q2 2025), so positions held before then are understated.

13F filings by quarter

5 quarters, going back to Q2 2025. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $19.5B (Q2 2026)

Q2 2025: $607.5MQ3 2025: $739.5MQ4 2025: $717.9MQ1 2026: $569.3MQ2 2026: $19.5B
Q2 2025Q2 2026
13F filings of Pershing Square by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202614$19.5BUBERBNMSFTvs. Q1 2026SEC
Q1 2026May 15, 20261$569.3MHHHvs. Q4 2025SEC
Q4 2025Feb 17, 20261$717.9MHHHvs. Q3 2025SEC
Q3 2025Nov 14, 20251$739.5MHHHvs. Q2 2025SEC
Q2 2025Aug 14, 20251$607.5MHHH–SEC

13D and 13G filings

Companies where Pershing Square reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

1 company, largest stake first.

Companies where Pershing Square owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
HHHHoward Hughes Holdings Inc.13D/A46.90%27.9M shares0.00 ppfrom 46.90%Jan 13, 20259 filingsAug 7, 2025SEC

Latest filings

9 filings on file made by Pershing Square or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Pershing Square
CompanyFiled (ET)FormStakeChangeEvent dateFiling
HHHHoward Hughes Holdings Inc.Aug 7, 20254:39 PM ET13D/A46.90%27.9M shares0.00 ppfrom 46.90%Aug 5, 2025SEC
HHHHoward Hughes Holdings Inc.May 7, 20258:22 PM ET13D/A46.90%27.9M shares+9.50 ppfrom 37.40%May 5, 2025SEC
HHHHoward Hughes Holdings Inc.Apr 30, 20257:41 AM ET13D/A37.40%18.9M shares0.00 ppfrom 37.40%Apr 29, 2025SEC
HHHHoward Hughes Holdings Inc.Apr 15, 20258:34 AM ET13D/A37.40%18.9M shares0.00 ppfrom 37.40%Apr 14, 2025SEC
HHHHoward Hughes Holdings Inc.Apr 7, 20252:04 PM ET13D/A37.40%18.9M shares0.00 ppfrom 37.40%Apr 5, 2025SEC
HHHHoward Hughes Holdings Inc.Mar 12, 20254:04 PM ET13D/A37.40%18.9M shares0.00 ppfrom 37.40%Mar 12, 2025SEC
HHHHoward Hughes Holdings Inc.Mar 3, 20257:20 AM ET13D/A37.40%18.9M shares−0.20 ppfrom 37.60%Mar 2, 2025SEC
HHHHoward Hughes Holdings Inc.Feb 18, 20255:33 PM ET13D/A37.60%18.9M shares0.00 ppfrom 37.60%Feb 13, 2025SEC
HHHHoward Hughes Holdings Inc.Jan 13, 20251:19 PM ET13D/A37.60%18.9M shares–Jan 13, 2025SEC