管理人记录 · ✦ 精选 · 已归档季度

Pershing Square Capital Management

Bill Ackman (CEO) · New York, NY · CIK 1336528 · EDGAR 文件 ↗

Concentrated activist positions in a small number of large companies.

$14.64B13F报告持仓市值

11持仓明细

99.3%前十大权重

7.70有效持仓

3.1%预计换手率

+0新增

−0清仓

申报的13F投资组合价值仅涵盖美国应申报多头仓位，不含现金、债券、空头仓位或非美国持仓，不等同于管理规模。

各季度报告持仓市值 Q2 2024 → Q1 2026

板块敞口

可选消费 30.1% (-5.2pp)

科技 20.4% (-0.3pp)

金融服务 19.4% (+0.7pp)

通信服务 18.7% (+3.5pp)

房地产 10.7% (+1.4pp)

工业 0.7% (-0.1pp)

占已申报普通股权益价值的比例；（±pp）较上一季度。

持仓组合 · Q3 2025

#	证券	权重	价值	股份	Δ股份		持有
1	UBER Uber Technologies, Inc.	20.3%	$2.97B	30.27M	-0.1%	▼ Trim	3
2	BN Brookfield Corporation	19.2%	$2.81B	41.02M	-0.3%	▼ Trim	6
3	HHH Howard Hughes Holdings Inc.	10.6%	$1.55B	18.85M	0.0%	Held	6
4	GOOG Alphabet Inc.	10.5%	$1.54B	6.32M	0.0%	Held	6
5	QSR Restaurant Brands…	10.0%	$1.47B	22.92M	-0.4%	▼ Trim	6
6	AMZN Amazon.com, Inc.	8.7%	$1.28B	5.82M	0.0%	Held	2
7	GOOGL Alphabet Inc.	8.0%	$1.18B	4.84M	-9.7%	▼ Trim	6
8	CMG Chipotle Mexican Grill, Inc.	5.8%	$844.20M	21.54M	0.0%	Held	6
9	HLT Hilton Worldwide Holdings…	5.4%	$786.25M	3.03M	0.0%	Held	6
10	SEG SEAPORT ENTMT GROUP INC	0.8%	$115.15M	5.02M	0.0%	Held	5
11	HTZ Hertz Global Holdings, Inc.	0.7%	$103.64M	15.24M	0.0%	Held	4

仅含普通股（SH）持仓；期权行显示于"期权"标签页，且不作净额处理。✂ = 变动基于拆股调整后的前期持股数计算。"持有 N+ 季度"= 在我们的数据窗口内每季度均有持仓，实际持有时间可能更长。