Pershing Square Capital Management, L.P.
SEC Form 13F institutional filer · CIK 0001336528
13F-HR · 6 reported holdings · 2026-03-31
Hedge fund manager.
Reported long-US-equity value
$8.25B
Top-10 concentration
100.0%
Pershing Square Capital Management, L.P. — $8.25B AUM allocation strategy
Pershing Square Capital Management, L.P. files SEC Form 13F and reports $8.25B of long US equity value across 6 reported holdings for 2026-03-31.
Its largest sector bet is Consumer Discretionary 28.9%, followed by Industrials 26.1% and Information Technology 25.4%.
The top 10 holdings account for 100% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Pershing Square Capital Management, L.P. — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$8.25B
total across 6 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
100% of value
higher = narrower conviction; lower = spread / hedging
Biggest trims (shares)
−$GOOGL −5.85M sh · −$1.84B−$GOOG −646K sh · −$203M−$UBER −249K sh · −$313M
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Broadline Retail28.9%—
- Passenger Ground Transportation26.1%—
- Systems Software25.4%—
- Interactive Media & Services19.6%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
6 of 6 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $AMZN | Amazon.com Inc | 11.5M | $2.39B | +1.84M | 28.9% |
| $UBER | Uber Technologies Inc | 30M | $2.15B | -249K | 26.1% |
| $MSFT | Microsoft Corporation | 5.65M | $2.09B | — | 25.4% |
| $META | Meta Platforms Inc | 2.66M | $1.52B | -12.7K | 18.4% |
| $GOOGL | Alphabet Inc | 312K | $89.4M | -5.85M | 1.1% |
| $GOOG | Alphabet Inc. Class C Capital Stock | 32.4K | $9.31M | -646K | 0.1% |
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
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How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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