13F filing recap · Q1 2026

What did Pershing Square Capital Management buy in Q1 2026?

Reported stock-position changes between this filing and the previous one.

Stock value

$13.71B

Positions

Estimated turnover

36.4%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Quarter in review

Pershing Square Capital Management opened a new position in Microsoft and exited Hilton Worldwide Holdings entirely. The firm also added to Amazon.com, while trimming Brookfield Corporation, Uber Technologies, Restaurant Brands International, and Meta Platforms slightly. Alphabet was substantially reduced across two separate holdings.

New positions

MSFTMicrosoft Corporation$2.09Breported value+5.65M shares

Increased positions

AMZNAmazon.com Inc$2.39Breported value+1.84M shares+19.2%

Reduced positions

BNBrookfield Corporation$2.42Breported value-1.71M shares-2.8%UBERUber Technologies, Inc.$2.15Breported value-249.0K shares-0.8%QSRRestaurant Brands International Inc.$1.67Breported value-221.3K shares-1.0%METAMeta Platforms, Inc.$1.52Breported value-12.7K shares

Exited positions

HLTHilton Worldwide Holdings Inc.$869.98Mprior reported value-3.03M shares-100.0%