Pershing Square Inc. 13F Holdings (15 Positions, Q2 2026)

The data shows Pershing Square effectively rebuilt its entire book in the quarter ended June 30, 2026: turnover ran near 1.89x, with seven positions initiated — Uber (12.7%), Brookfield (12.6%), Microsoft (11.9%), Amazon (10.5%), Restaurant Brands (9.6%), Meta (9.3%) and Visa (5.8%) — together roughly 72% of the portfolio. Howard Hughes (HHH), previously effectively the whole book at 100%, is tagged as an add, yet its weight collapsed to 10.2%; the label and the weight move sit awkwardly together, and the data alone cannot confirm whether share count actually rose — the cleaner reading is that the legacy stake was retained while the rest of the book was rotated into the new names. The resulting 14-name portfolio is top-heavy (top eight above 80%), tilted toward Financials (~30%) and Consumer Discretionary (~20%), with new positions tightly banded between 9.6% and 12.7% (position-sizing discipline scored 93.8); six smaller, unitemized holdings are not detailed in the extract.