whalepapers
Investors/ Pershing Square Capital Management, L.P./ Q4 2025

Pershing Square Capital Management, L.P.

Bill Ackman · As of Q4 2025 · filed Feb 17, 2026

BN BROOKFIELD CORP
18.1%
Added +49.7% 61,403,089 $2.82B
UBER UBER TECHNOLOGIES INC
15.9%
Reduced −0.2% 30,207,734 $2.47B
AMZN AMAZON.COM INC
14.3%
Added +65.0% 9,607,824 $2.22B
GOOG ALPHABET INC-CL C
12.5%
Reduced −2.5% 6,163,871 $1.93B
META META PLATFORMS INC-CLASS A
11.4%
New 2,673,569 $1.76B
QSR RESTAURANT BRANDS INTERN
10.0%
Reduced −0.2% 22,866,773 $1.56B
HHH HOWARD HUGHES HOLDINGS INC
9.7%
Held 18,852,064 $1.50B
HLT HILTON WORLDWIDE HOLDINGS IN
5.6%
Reduced −0.1% 3,028,664 $870.0M
GOOGL ALPHABET INC-CL A
1.4%
Reduced −86.0% 678,297 $212.3M
SEG SEAPORT ENTERTAINMENT GROUP
0.6%
Held 5,023,780 $99.3M
HTZ HERTZ GLOBAL HLDGS INC
0.5%
Held 15,241,127 $78.3M

Sold positions

1 closed in Q4 2025 · shares & value as of prior filing
Holding Shares sold Prior value
CMG CHIPOTLE MEXICAN GRILL INC
21,541,177 $844.2M

Holdings reflect long positions disclosed in 13F filings only and exclude short positions, cash, and other non-13F assets. Holdings data sourced from SEC EDGAR. Not investment advice. Full disclaimer.