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Pershing Square Capital Management, L.P.

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13F filer, CIK 1336528, New York, NY

Pershing Square Capital Management, L.P. reported $13,729,120,533 across 11 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 99.32% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-003509

Period
2025-06-30
Reported value
$13.7B
Holdings
11
Top 10 weight
99.32%
New
1
Sold out
1

Part of the filer group PERSHING SQUARE INC.

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
AMZNnew+5,823,316$1.28B
GOOGLadded+925,000$163M
BNadded+155,740$9.63M
HLTadded+29,808$7.94M
HTZadded+241,127$1.65M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
CPexited-14,799,796-$1.04B

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001172661-25-003509, largest first. % of portfolio is the value over $13,729,120,533, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
UBERUBER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 30,301,161 shares; 2025Q2: 30,301,161 shares 30,301,161$2.83B20.59%0Timeline
BNBROOKFIELD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 32,735,883 shares; 2024Q4: 34,893,064 shares; 2025Q1: 41,004,657 shares; 2025Q2: 41,160,397 shares 41,160,397$2.55B18.54%+155,740Timeline
QSRRESTAURANT BRANDS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,000,914 shares; 2024Q4: 23,000,914 shares; 2025Q1: 23,000,914 shares; 2025Q2: 23,000,914 shares 23,000,914$1.52B11.11%0Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,823,316 shares 5,823,316$1.28B9.31%newTimeline
HHHHOWARD HUGHES HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 18,852,064 shares; 2024Q4: 18,852,064 shares; 2025Q1: 18,852,064 shares; 2025Q2: 18,852,064 shares 18,852,064$1.27B9.27%0Timeline
CMGCHIPOTLE MEXICAN GRILL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,815,165 shares; 2024Q4: 24,653,533 shares; 2025Q1: 21,541,177 shares; 2025Q2: 21,541,177 shares 21,541,177$1.21B8.81%0Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,547,582 shares; 2024Q4: 7,547,582 shares; 2025Q1: 6,324,031 shares; 2025Q2: 6,324,031 shares 6,324,031$1.12B8.17%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,986,488 shares; 2024Q4: 3,986,488 shares; 2025Q1: 4,437,980 shares; 2025Q2: 5,362,980 shares 5,362,980$945M6.88%+925,000Timeline
HLTHILTON WORLDWIDE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,370,168 shares; 2024Q4: 5,440,546 shares; 2025Q1: 3,000,770 shares; 2025Q2: 3,030,578 shares 3,030,578$807M5.88%+29,808Timeline
HTZHERTZ GLOBAL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 12,713,963 shares; 2025Q1: 15,000,000 shares; 2025Q2: 15,241,127 shares 15,241,127$104M0.76%+241,127Timeline
SEGSEAPORT ENTMT GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,094,673 shares; 2024Q4: 5,023,780 shares; 2025Q1: 5,023,780 shares; 2025Q2: 5,023,780 shares 5,023,780$93.7M0.68%0Timeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
CPCANADIAN PACIFIC KANSAS CITY14,799,796$1.04Bshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-25-003509 base2025-08-14acceptance time not in the bulk data set