Activist · CIK 0001336528

Bill Ackman

Pershing Square

Bill Ackman runs Pershing Square, an activist overseeing $15.53B in disclosed equity holdings (SEC CIK 0001336528). The latest portfolio (2025Q4) discloses 11 positions across 6 sectors, with the largest positions in BN, UBER and AMZN. On a mark-to-market basis the tracked portfolio has returned 115.0% since 2016Q1. OpenStocks tracks 40 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.

Track Bill's filings View holdings

Portfolio

$15.53B

Positions

11

Quarter

2025Q4

Filings tracked

40

5Y+23.5%Full performance →

Quarter

2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2024Q2 2024Q1 2023Q4 2023Q3 2023Q2 2023Q1

Holdings

Sorted by value · 2023Q2

Sector8 positions

1

CMGCHIPOTLE MEXICAN GRILL INC

Consumer Cyclical·Restaurants

18.86%

of portfolio

Number of shares

953,608 sh

Holdings current value

$2.04B

Avg closing price

$71.95

-51.2%

Last action

Exited

2025Q4

Current $35.08

2

QSRRESTAURANT BRANDS INTL INC

Consumer Cyclical·Restaurants

16.73%

of portfolio

Number of shares

23,348,135 sh

Holdings current value

$1.81B

Avg closing price

$44.61

+74.0%

Last action

Trimmed 0.2%

2025Q4

Current $77.61

3

LOWLOWES COS INC

Consumer Cyclical·Home Improvement Retail

15.58%

of portfolio

Number of shares

7,468,850 sh

Holdings current value

$1.69B

Avg closing price

$94.47

Last action

Exited

2024Q1

Current —

4

HLTHILTON WORLDWIDE HLDGS INC

Consumer Cyclical·Lodging

12.56%

of portfolio

Number of shares

9,332,853 sh

Holdings current value

$1.36B

Avg closing price

$80.29

+311.5%

Last action

Trimmed 0.0%

2025Q4

Current $330.38

5

44267D107HOWARD HUGHES CORP

12.09%

of portfolio

Number of shares

16,570,228 sh

Holdings current value

$1.31B

Avg closing price

$70.42

Last action

Exited

2023Q3

Current —

6

CPCANADIAN PACIFIC KANSAS CITY

Industrials·Railroads

11.27%

of portfolio

Number of shares

15,095,528 sh

Holdings current value

$1.22B

Avg closing price

$80.77

-0.8%

Last action

Exited

2025Q2

Current $80.14

7

GOOGALPHABET INC

Communication Services·Internet Content & Information

10.49%

of portfolio

Number of shares

9,377,195 sh

Holdings current value

$1.13B

Avg closing price

$106.37

+212.9%

Last action

Trimmed 1.7%

2025Q4

Current $332.77

8

GOOGLALPHABET INC

Communication Services·Internet Content & Information

2.42%

of portfolio

Number of shares

2,185,000 sh

Holdings current value

$261.54M

Avg closing price

$130.57

+157.4%

Last action

Trimmed 65.6%

2025Q4

Current $336.02

Portfolio heatmap

Box size = % of portfolio · color = return since filing

18.86% · -98.4%

16.73% · +0.1%

12.56% · +127.0%

HOWARD HUGHES CORP

12.09%

11.27% · -0.8%

10.49% · +175.1%

2.42% · +180.7%

Sector exposure

Share of dollar value across the latest reported portfolio. Unclassified positions excluded.

Consumer Cyclical4 pos$6.89B72.5%
Communication Services2 pos$1.40B14.7%
Industrials1 pos$1.22B12.8%

(12.1% unclassified, excluded from %)