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Bill Ackman

Pershing Square Capital Management · 12 closed periods in the current 3-year detail window (latest closed period: Q4 2025 → next disclosure, 11 priced positions, +6.62% return). Every disclosed long-equity position appears in the table for its period; the Valid column shows 1 (counted in the math) or 0 (excluded — hover the row for the reason). See the methodology for the exact math.

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2026-02-172026-05-15

11 of 11 priced100.00% coverage
+6.62%
Holdings from Q4 2025 disclosure · accession 0001172661-26-001091 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
BN61,403,089$47.78$45.54$2.93B$2.8B-4.69%18.15%-0.9 bps1
UBER30,207,734$70.53$75.09$2.13B$2.27B+6.47%15.90%+1.0 bps1
AMZN9,607,824$201.15$264.14$1.93B$2.54B+31.31%14.28%+4.5 bps1
GOOG6,163,871$302.82$393.32$1.87B$2.42B+29.89%12.46%+3.7 bps1
META2,673,569$639.29$614.23$1.71B$1.64B-3.92%11.37%-0.4 bps1
QSR22,866,773$68.13$75.84$1.56B$1.73B+11.32%10.05%+1.1 bps1
HHH18,852,064$82.76$63.79$1.56B$1.2B-22.92%9.69%-2.2 bps1
HLT3,028,664$317.82$316.17$962.57M$957.57M-0.52%5.60%-0.0 bps1
GOOGL678,297$302.02$396.78$204.86M$269.13M+31.38%1.37%+0.4 bps1
SEG5,023,780$20.27$22.77$101.83M$114.39M+12.33%0.64%+0.1 bps1
HTZ15,241,127$4.92$5.53$74.99M$84.28M+12.40%0.50%+0.1 bps1
Top 5 (by entry value)(5)$10.57B$11.67B+10.37%
Total(11)$15.04B$16.03B+6.62%

2025-11-142026-02-17

11 of 11 priced100.00% coverage
-0.85%
Holdings from Q3 2025 disclosure · accession 0001172661-25-005039 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
UBER30,270,518$91.62$70.53$2.77B$2.13B-23.02%20.25%-4.7 bps1
BN41,020,231$66.08$71.67$2.71B$2.94B+8.47%19.21%+1.6 bps1
HHH18,852,064$85.93$82.76$1.62B$1.56B-3.69%10.58%-0.4 bps1
GOOG6,324,031$276.98$302.82$1.75B$1.92B+9.33%10.52%+1.0 bps1
QSR22,915,496$68.68$68.13$1.57B$1.56B-0.80%10.04%-0.1 bps1
AMZN5,823,316$234.69$201.15$1.37B$1.17B-14.29%8.73%-1.2 bps1
GOOGL4,843,973$276.41$302.02$1.34B$1.46B+9.27%8.04%+0.7 bps1
CMG21,541,177$31.57$37.88$680.05M$815.98M+19.99%5.77%+1.2 bps1
HLT3,030,578$269.67$317.82$817.26M$963.18M+17.86%5.37%+1.0 bps1
SEG5,023,780$21.75$20.27$109.27M$101.83M-6.80%0.79%-0.1 bps1
HTZ15,241,127$5.65$4.92$86.11M$74.99M-12.92%0.71%-0.1 bps1
Top 5 (by entry value)(5)$10.43B$10.11B-3.05%
Total(11)$14.83B$14.7B-0.85%

2025-08-142025-11-14

11 of 11 priced100.00% coverage
+6.79%
Holdings from Q2 2025 disclosure · accession 0001172661-25-003509 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
UBER30,301,161$91.40$91.62$2.77B$2.78B+0.24%20.59%+0.0 bps1
BN41,160,397$65.60×1.5$44.05$2.7B$2.72B+0.72%18.54%+0.1 bps1
QSR23,000,914$65.18$68.68$1.5B$1.58B+5.37%11.11%+0.6 bps1
AMZN5,823,316$230.98$234.69$1.35B$1.37B+1.61%9.31%+0.1 bps1
HHH18,852,064$73.49$85.93$1.39B$1.62B+16.93%9.27%+1.6 bps1
CMG21,541,177$43.17$31.57$929.93M$680.05M-26.87%8.81%-2.4 bps1
GOOG6,324,031$203.82$276.98$1.29B$1.75B+35.89%8.17%+2.9 bps1
GOOGL5,362,980$202.94$276.41$1.09B$1.48B+36.20%6.88%+2.5 bps1
HLT3,030,578$270.34$269.67$819.29M$817.26M-0.25%5.88%-0.0 bps1
HTZ15,241,127$5.24$5.65$79.86M$86.11M+7.82%0.76%+0.1 bps1
SEG5,023,780$25.89$21.75$130.07M$109.27M-15.99%0.68%-0.1 bps1
Top 5 (by entry value)(5)$9.7B$10.06B+3.74%
Total(11)$14.04B$14.99B+6.79%

2025-05-152025-08-14

11 of 11 priced100.00% coverage
+3.12%
Holdings from Q1 2025 disclosure · accession 0001172661-25-002315 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
UBER30,301,161$90.16$91.40$2.73B$2.77B+1.38%18.50%+0.3 bps1
BN41,004,657$59.72$65.60$2.45B$2.69B+9.85%18.01%+1.8 bps1
QSR23,000,914$69.68$65.18$1.6B$1.5B-6.46%12.85%-0.8 bps1
HHH18,852,064$70.80$73.49$1.33B$1.39B+3.80%11.71%+0.4 bps1
CMG21,541,177$52.04$43.17$1.12B$929.93M-17.04%9.07%-1.5 bps1
CP14,799,796$81.49$73.88$1.21B$1.09B-9.34%8.71%-0.8 bps1
GOOG6,324,031$165.40$203.82$1.05B$1.29B+23.23%8.28%+1.9 bps1
GOOGL4,437,980$163.96$202.94$727.65M$900.64M+23.77%5.75%+1.4 bps1
HLT3,000,770$252.49$270.34$757.66M$811.23M+7.07%5.72%+0.4 bps1
SEG5,023,780$18.90$25.89$94.95M$130.07M+36.98%0.90%+0.3 bps1
HTZ15,000,000$6.31$5.24$94.65M$78.6M-16.96%0.50%-0.1 bps1
Top 5 (by entry value)(5)$9.32B$9.44B+1.21%
Total(11)$13.17B$13.58B+3.12%

2025-02-142025-05-15

10 of 10 priced100.00% coverage
-4.98%
Holdings from Q4 2024 disclosure · accession 0001172661-25-001119 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
BN34,893,064$60.92$59.72$2.13B$2.08B-1.97%15.89%-0.3 bps1
QSR23,000,914$64.52$69.68$1.48B$1.6B+8.00%11.88%+1.0 bps1
CMG24,653,533$57.08$52.04$1.41B$1.28B-8.83%11.78%-1.0 bps1
HHH18,852,064$75.49$70.80$1.42B$1.33B-6.21%11.50%-0.7 bps1
GOOG7,547,582$186.87$165.40$1.41B$1.25B-11.49%11.39%-1.3 bps1
NKE18,768,946$73.04$62.40$1.37B$1.17B-14.57%11.26%-1.6 bps1
HLT5,440,546$265.87$252.49$1.45B$1.37B-5.03%10.66%-0.5 bps1
CP14,877,651$77.52$81.49$1.15B$1.21B+5.12%8.54%+0.4 bps1
GOOGL3,986,488$185.23$163.96$738.42M$653.62M-11.48%5.98%-0.7 bps1
SEG5,023,780$25.95$18.90$130.37M$94.95M-27.17%1.11%-0.3 bps1
Top 5 (by entry value)(5)$7.89B$7.64B-3.12%
Total(10)$12.69B$12.06B-4.98%

2024-11-142025-02-14

10 of 11 priced99.95% coverage
+0.25%
Holdings from Q3 2024 disclosure · accession 0001172661-24-005218 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
BN32,735,883$57.80$60.92$1.89B$1.99B+5.40%13.47%+0.7 bps1
HLT7,370,168$250.04$265.87$1.84B$1.96B+6.33%13.15%+0.8 bps1
CMG28,815,165$59.91$57.08$1.73B$1.64B-4.72%12.85%-0.6 bps1
QSR23,000,914$68.47$64.52$1.57B$1.48B-5.77%12.84%-0.7 bps1
HHH18,852,064$80.86$75.49$1.52B$1.42B-6.64%11.30%-0.8 bps1
NKE16,280,338$75.68$73.04$1.23B$1.19B-3.49%11.14%-0.4 bps1
CP14,877,651$75.87$77.52$1.13B$1.15B+2.17%9.85%+0.2 bps1
GOOG7,547,582$177.35$186.87$1.34B$1.41B+5.37%9.77%+0.5 bps1
GOOGL3,986,488$175.58$185.23$699.95M$738.42M+5.50%5.12%+0.3 bps1
SEG2,094,673$27.88$25.95$58.4M$54.36M-6.92%0.44%-0.0 bps1
SEGRT0.05%0
Top 5 (by entry value)(5)$8.56B$8.51B-0.64%
Total(10)$13.02B$13.05B+0.25%

2024-08-142024-11-14

9 of 9 priced100.00% coverage
+9.89%
Holdings from Q2 2024 disclosure · accession 0001172661-24-003511 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
HLT8,952,290$207.79$250.04$1.86B$2.24B+20.33%18.76%+3.8 bps1
CMG28,815,165$51.65$59.91$1.49B$1.73B+15.99%17.34%+2.8 bps1
QSR23,142,542$70.60$68.47$1.63B$1.58B-3.02%15.64%-0.5 bps1
GOOG7,547,582$162.03$177.35$1.22B$1.34B+9.46%13.30%+1.3 bps1
HHH18,852,064$70.37$80.86$1.33B$1.52B+14.91%11.74%+1.7 bps1
CP14,965,641$78.03$75.87$1.17B$1.14B-2.77%11.32%-0.3 bps1
GOOGL3,986,488$160.37$175.58$639.31M$699.95M+9.48%6.97%+0.7 bps1
BN6,854,510$46.32$57.80$317.5M$396.19M+24.78%2.73%+0.7 bps1
NKE3,040,132$78.52$75.68$238.71M$230.08M-3.62%2.20%-0.1 bps1
Top 5 (by entry value)(5)$7.53B$8.41B+11.69%
Total(9)$9.9B$10.87B+9.89%

2024-05-152024-08-14

7 of 7 priced100.00% coverage
-4.93%
Holdings from Q1 2024 disclosure · accession 0001172661-24-002519 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
CMG743,984$3168.30×50$51.65$2.36B$1.92B-18.49%20.10%-3.7 bps1
HLT9,181,180$204.57$207.79$1.88B$1.91B+1.57%18.20%+0.3 bps1
QSR23,348,135$71.43$70.60$1.67B$1.65B-1.16%17.24%-0.2 bps1
GOOG9,377,195$173.88$162.03$1.63B$1.52B-6.82%13.27%-0.9 bps1
HHH18,852,064$64.95$70.37$1.22B$1.33B+8.35%12.72%+1.1 bps1
CP15,095,528$80.77$78.03$1.22B$1.18B-3.39%12.37%-0.4 bps1
GOOGL4,354,824$172.51$160.37$751.25M$698.38M-7.04%6.11%-0.4 bps1
Top 5 (by entry value)(5)$8.76B$8.32B-4.96%
Total(7)$10.73B$10.2B-4.93%

2024-02-142024-05-15

8 of 8 priced100.00% coverage
+5.75%
Holdings from Q4 2023 disclosure · accession 0001172661-24-001556 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
CMG824,998$2620.19$3168.30$2.16B$2.61B+20.92%18.15%+3.8 bps1
QSR23,348,135$76.52$71.43$1.79B$1.67B-6.65%17.55%-1.2 bps1
HLT9,181,180$192.70$204.57$1.77B$1.88B+6.16%16.08%+1.0 bps1
HHH18,852,064$72.76$64.95$1.37B$1.22B-10.74%15.51%-1.7 bps1
GOOG9,377,195$147.14$173.88$1.38B$1.63B+18.17%12.71%+2.3 bps1
CP15,095,528$84.73$80.77$1.28B$1.22B-4.67%11.48%-0.5 bps1
GOOGL4,354,824$145.94$172.51$635.54M$751.25M+18.21%5.85%+1.1 bps1
LOW1,245,515$226.93$236.08$282.64M$294.04M+4.03%2.67%+0.1 bps1
Top 5 (by entry value)(5)$8.47B$9.01B+6.44%
Total(8)$10.67B$11.28B+5.75%

2023-11-142024-02-14

8 of 8 priced100.00% coverage
+12.96%
Holdings from Q3 2023 disclosure · accession 0001172661-23-004016 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
CMG953,608$2166.02$2620.19$2.07B$2.5B+20.97%16.65%+3.5 bps1
QSR23,348,135$70.19$76.52$1.64B$1.79B+9.02%14.82%+1.3 bps1
HLT10,305,500$167.03$192.70$1.72B$1.99B+15.37%14.75%+2.3 bps1
LOW7,066,623$202.24$226.93$1.43B$1.6B+12.21%14.00%+1.7 bps1
HHH16,806,908$71.00$72.76$1.19B$1.22B+2.48%11.87%+0.3 bps1
GOOG9,377,195$135.43$147.14$1.27B$1.38B+8.65%11.78%+1.0 bps1
CP15,095,528$70.88$84.73$1.07B$1.28B+19.54%10.70%+2.1 bps1
GOOGL4,354,824$133.62$145.94$581.89M$635.54M+9.22%5.43%+0.5 bps1
Top 5 (by entry value)(5)$8.12B$9.25B+13.90%
Total(8)$10.97B$12.39B+12.96%

2023-08-142023-11-14

8 of 8 priced100.00% coverage
+0.16%
Holdings from Q2 2023 disclosure · accession 0001172661-23-003137 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
CMG953,608$1850.08$2166.02$1.76B$2.07B+17.08%18.86%+3.2 bps1
QSR23,348,135$72.48$70.19$1.69B$1.64B-3.16%16.73%-0.5 bps1
LOW7,468,850$225.89$202.24$1.69B$1.51B-10.47%15.58%-1.6 bps1
HLT9,332,853$155.32$167.03$1.45B$1.56B+7.54%12.56%+0.9 bps1
HHC16,570,228$74.52$71.00$1.23B$1.18B-4.72%12.09%-0.6 bps1
CP15,095,528$80.39$70.88$1.21B$1.07B-11.83%11.27%-1.3 bps1
GOOG9,377,195$131.83$135.43$1.24B$1.27B+2.73%10.49%+0.3 bps1
GOOGL2,185,000$131.33$133.62$286.96M$291.96M+1.74%2.42%+0.0 bps1
Top 5 (by entry value)(5)$7.83B$8.04B+2.74%
Total(8)$10.56B$10.58B+0.16%

2023-05-152023-08-14

8 of 8 priced100.00% coverage
+2.74%
Holdings from Q1 2023 disclosure · accession 0001172661-23-002303 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
LOW10,036,114$201.55$225.89$2.02B$2.27B+12.08%19.64%+2.4 bps1
CMG1,029,186$2047.12$1850.08$2.11B$1.9B-9.63%17.21%-1.7 bps1
QSR24,194,166$73.06$72.48$1.77B$1.75B-0.79%15.90%-0.1 bps1
HLT9,299,041$143.26$155.32$1.33B$1.44B+8.42%12.82%+1.1 bps1
HHC15,984,532$71.78$74.52$1.15B$1.19B+3.81%12.52%+0.5 bps1
CP15,238,044$82.93$80.39$1.26B$1.22B-3.06%11.48%-0.4 bps1
GOOG8,069,770$116.96$131.83$943.84M$1.06B+12.71%8.21%+1.0 bps1
GOOGL2,185,000$116.51$131.33$254.57M$286.96M+12.72%2.22%+0.3 bps1
Top 5 (by entry value)(5)$8.49B$8.59B+1.19%
Total(8)$10.84B$11.14B+2.74%