Key Takeaways
- • Pershing Square's portfolio reached $19.47 billion as of Q2 2026, with 14 disclosed security holdings reflecting a concentrated investment approach across technology, infrastructure, and consumer sectors.
- • Uber Technologies holds the largest position at 12.72% of portfolio value ($2.5 billion across 34.3 million shares), representing Ackman's flagship public equity bet and the single largest holding in Pershing Square's public portfolio.
- • Brookfield Corp ranks as the second-largest position at 12.58% ($2.4 billion with 57.5 million shares), demonstrating Ackman's continued conviction in infrastructure and alternative asset management exposure.
- • Microsoft (11.89%), Amazon (10.49%), and Howard Hughes Holdings (10.23%) round out the top five, indicating significant exposure to cloud computing, e-commerce, and real estate development themes.
- • Portfolio concentration among top five holdings represents approximately 58% of total assets, reflecting Ackman's high-conviction, thesis-driven investment strategy characteristic of Pershing Square's operational model.
Summary
Bill Ackman's Pershing Square Capital Management maintained a concentrated portfolio of $19.47 billion as of June 30, 2026, across 14 disclosed security holdings, according to the firm's Q2 2026 SEC 13F filing released August 14, 2026. The portfolio structure underscores Ackman's long-standing preference for deep conviction positions rather than diversified exposure, a hallmark of Pershing Square's activist and value-oriented investment philosophy.
Uber Technologies Inc. anchors Pershing Square's public equity portfolio as the largest holding, representing 12.72% of total portfolio value at approximately $2.5 billion. Ackman's 34.3 million-share stake in the ride-sharing and logistics platform reflects sustained confidence in the company's core business model and market positioning. Brookfield Corp., the diversified infrastructure and alternative asset manager, follows closely as the second-largest position at 12.58% ($2.4 billion), with Pershing Square holding 57.5 million shares. This dual concentration in Uber and Brookfield suggests Ackman's focus on secular growth themes coupled with alternative asset exposure.
The subsequent three positions—Microsoft Corp. (11.89%), Amazon.com Inc. (10.49%), and Howard Hughes Holdings Inc. (10.23%)—extend Pershing Square's exposure across cloud computing infrastructure, digital commerce, and real estate development. Combined, the top five holdings represent approximately 58% of the $19.47 billion portfolio, underscoring the concentrated nature of Ackman's capital deployment strategy.
The Q2 2026 portfolio reflects evolution from earlier positions; Chipotle Mexican Grill, which had represented a significant Pershing Square holding from 2017 through 2024, is no longer among disclosed positions, illustrating Ackman's willingness to recycle capital toward fresh opportunities. The 14-security holdings indicate a selective, thesis-driven approach that prioritizes conviction positions capable of generating substantial returns relative to broader market benchmarks.
Uber Technologies Inc. anchors Pershing Square's public equity portfolio as the largest holding, representing 12.72% of total portfolio value at approximately $2.5 billion. Ackman's 34.3 million-share stake in the ride-sharing and logistics platform reflects sustained confidence in the company's core business model and market positioning. Brookfield Corp., the diversified infrastructure and alternative asset manager, follows closely as the second-largest position at 12.58% ($2.4 billion), with Pershing Square holding 57.5 million shares. This dual concentration in Uber and Brookfield suggests Ackman's focus on secular growth themes coupled with alternative asset exposure.
The subsequent three positions—Microsoft Corp. (11.89%), Amazon.com Inc. (10.49%), and Howard Hughes Holdings Inc. (10.23%)—extend Pershing Square's exposure across cloud computing infrastructure, digital commerce, and real estate development. Combined, the top five holdings represent approximately 58% of the $19.47 billion portfolio, underscoring the concentrated nature of Ackman's capital deployment strategy.
The Q2 2026 portfolio reflects evolution from earlier positions; Chipotle Mexican Grill, which had represented a significant Pershing Square holding from 2017 through 2024, is no longer among disclosed positions, illustrating Ackman's willingness to recycle capital toward fresh opportunities. The 14-security holdings indicate a selective, thesis-driven approach that prioritizes conviction positions capable of generating substantial returns relative to broader market benchmarks.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.