In Q2 2026, Pershing Square held 14 US-listed stocks worth $19bn. Its biggest move was cutting Amazon.com (25% fewer shares, now 10%), followed by buying Visa (now 5.8% of the portfolio). It started 5 new positions and sold out of 1. Its largest holding is Uber Technologies at 13%.
Q2 2026, filed 14 Aug 2026 (filing): 5 new, 4 added to, 3 trimmed, 1 sold out. Select a row to see it over time.How this works
Changes compare share counts with Q1 2026, adjusted for stock splits. Share classes of the same company are combined. Values are at quarter-end prices.
13F holdings with change from the previous quarter
Each bar is one 13F. Select a bar or press play to see that quarter’s 12 largest positions.How this works
Bars are split by share of the US portfolio: the six biggest holdings over the period in colour, everything else in grey. The last eight quarters are shown in full, earlier years at year end.
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Q4 ’24
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QSRCMGHHHHLTBNCPEverything else
2013: Restaurant Brands International 0.0%, Chipotle Mexican Grill 0.0%, Howard Hughes Holdings 5.2%, Hilton Worldwide 0.0%, Brookfield 0.0%, Canadian Pacific Kansas City 31.6%; 2014: Restaurant Brands International 9.3%, Chipotle Mexican Grill 0.0%, Howard Hughes Holdings 2.9%, Hilton Worldwide 0.0%, Brookfield 0.0%, Canadian Pacific Kansas City 16.7%; 2015: Restaurant Brands International 11.4%, Chipotle Mexican Grill 0.0%, Howard Hughes Holdings 3.2%, Hilton Worldwide 0.0%, Brookfield 0.0%, Canadian Pacific Kansas City 14.3%; 2016: Restaurant Brands International 31.6%, Chipotle Mexican Grill 18.4%, Howard Hughes Holdings 6.9%, Hilton Worldwide 0.0%, Brookfield 0.0%, Canadian Pacific Kansas City 0.0%; 2017: Restaurant Brands International 27.7%, Chipotle Mexican Grill 14.2%, Howard Hughes Holdings 10.5%, Hilton Worldwide 0.0%, Brookfield 0.0%, Canadian Pacific Kansas City 0.0%; 2018: Restaurant Brands International 17.3%, Chipotle Mexican Grill 14.1%, Howard Hughes Holdings 2.0%, Hilton Worldwide 13.2%, Brookfield 0.0%, Canadian Pacific Kansas City 0.0%; 2019: Restaurant Brands International 14.7%, Chipotle Mexican Grill 22.0%, Howard Hughes Holdings 4.3%, Hilton Worldwide 17.9%, Brookfield 0.0%, Canadian Pacific Kansas City 0.0%; 2020: Restaurant Brands International 15.3%, Chipotle Mexican Grill 16.1%, Howard Hughes Holdings 8.6%, Hilton Worldwide 14.8%, Brookfield 0.0%, Canadian Pacific Kansas City 0.0%; 2021: Restaurant Brands International 13.5%, Chipotle Mexican Grill 18.1%, Howard Hughes Holdings 12.9%, Hilton Worldwide 18.2%, Brookfield 0.0%, Canadian Pacific Kansas City 1.9%; 2022: Restaurant Brands International 17.8%, Chipotle Mexican Grill 17.5%, Howard Hughes Holdings 13.8%, Hilton Worldwide 14.4%, Brookfield 0.0%, Canadian Pacific Kansas City 12.9%; 2023: Restaurant Brands International 17.6%, Chipotle Mexican Grill 18.1%, Howard Hughes Holdings 15.5%, Hilton Worldwide 16.1%, Brookfield 0.0%, Canadian Pacific Kansas City 11.5%; Q3 ’24: Restaurant Brands International 12.8%, Chipotle Mexican Grill 12.8%, Howard Hughes Holdings 11.3%, Hilton Worldwide 13.2%, Brookfield 13.5%, Canadian Pacific Kansas City 9.8%; Q4 ’24: Restaurant Brands International 11.8%, Chipotle Mexican Grill 11.7%, Howard Hughes Holdings 11.4%, Hilton Worldwide 10.6%, Brookfield 15.8%, Canadian Pacific Kansas City 8.5%; Q1 ’25: Restaurant Brands International 12.8%, Chipotle Mexican Grill 9.1%, Howard Hughes Holdings 11.7%, Hilton Worldwide 5.7%, Brookfield 18.0%, Canadian Pacific Kansas City 8.7%; Q2 ’25: Restaurant Brands International 11.1%, Chipotle Mexican Grill 8.8%, Howard Hughes Holdings 9.3%, Hilton Worldwide 5.9%, Brookfield 18.5%, Canadian Pacific Kansas City 0.0%; Q3 ’25: Restaurant Brands International 10.0%, Chipotle Mexican Grill 5.8%, Howard Hughes Holdings 10.6%, Hilton Worldwide 5.4%, Brookfield 19.2%, Canadian Pacific Kansas City 0.0%; Q4 ’25: Restaurant Brands International 10.1%, Chipotle Mexican Grill 0.0%, Howard Hughes Holdings 9.7%, Hilton Worldwide 5.6%, Brookfield 18.1%, Canadian Pacific Kansas City 0.0%; Q1 ’26: Restaurant Brands International 12.2%, Chipotle Mexican Grill 0.0%, Howard Hughes Holdings 8.7%, Hilton Worldwide 0.0%, Brookfield 17.6%, Canadian Pacific Kansas City 0.0%; Q2 ’26: Restaurant Brands International 9.6%, Chipotle Mexican Grill 0.0%, Howard Hughes Holdings 10.2%, Hilton Worldwide 0.0%, Brookfield 12.6%, Canadian Pacific Kansas City 0.0%
Q1 Q2 Q3 Q4 · each quarter is that quarter’s profits times the stake reported at its end. *2026 so far: 2 quarters. Click a quarter to see its holdings.
Net income is as reported (GAAP), so it includes one-off items and, for some companies, gains or losses on investments they hold. Companies that report under IFRS (most non-US companies) or whose shares we can’t match reliably are left out; “portfolio covered” shows how much is included. Look-through earnings explained. Growth compares earnings per share over the last 12 months with the 12 months a year earlier, for holdings profitable in both.
5% stake filings
Holdings of 5% or more of a company (13D and 13G), usually reported well before the next 13F.How this works
Pershing Square’s filings since December 2024, newest first. An amendment showing less than 5% means the holding fell below the threshold. A 13D means the holder may seek to influence the company. How to read a 13D.