What Bill Ackman Bought and Sold in Q2 2026

As of the Q2 2026 13F, filed 14 August 2026

Pershing Square Inc.'s 13F-HR filing for Q2 2026, ending June 30, 2026, revealed significant portfolio adjustments, with five new positions and two complete exits. The reported total value of the portfolio stood at $19.47 billion across 14 positions.

Notable Buys

Pershing Square Inc. established five new positions during the quarter. These include Netflix (NFLX), representing 4.8% of the reported total with 13.1 million shares, and PSUS, a new position of 4.0 million shares accounting for 0.77% of the reported total. Visa (V) was also a new addition, with 3.3 million shares making up 5.76% of the reported total, alongside S&P Global (SPGI) with 2.6 million shares (5.43% of total) and Mastercard (MA) with 2.1 million shares (5.61% of total).

Among existing holdings, the firm increased its stake in Uber (UBER) by 4.4 million shares, a 14.6% increase, bringing it to 12.72% of the reported total. Restaurant Brands International (QSR) saw an increase of 3.2 million shares, up 14%, now representing 9.62% of the reported total. Microsoft (MSFT) also had its position increased by 553 thousand shares, a 9.8% change, making it 11.89% of the reported total.

Notable Sells

The filing indicated two complete exits from previous holdings. Pershing Square Inc. sold all 312 thousand shares of Google (GOOG) and all 32 thousand shares of Alphabet (GOOGL).

Significant reductions were also made in several positions. The firm reduced its stake in Amazon (AMZN) by 2.9 million shares, a 25.2% decrease, though it still accounts for 10.49% of the reported total. Brookfield (BN) saw a reduction of 2.2 million shares, a 3.7% decrease, and now represents 12.58% of the reported total. Hertz Global Holdings (HTZ) was trimmed by 250 thousand shares, a 1.6% reduction, leaving it at 0.17% of the reported total.

Portfolio Concentration

The reported portfolio for Q2 2026 shows a concentration in its largest holdings. Uber (UBER) is the largest reported position, accounting for 12.72% of the total. Brookfield (BN) follows closely at 12.58% of the reported total. Microsoft (MSFT) represents 11.89%, while Amazon (AMZN) makes up 10.49%. Howard Hughes Holdings (HHH) accounts for 10.23% of the reported total, and Restaurant Brands International (QSR) is 9.62%.

A 13F filing provides a snapshot of an institutional investment manager's equity holdings at the end of a quarter, with the report filed 45 days after the quarter's close.