PERSHING SQUARE INC.
Long book
$569.3M
Q1 2026
Positions
1
Top-10 weight
100%
concentration
Last quarter
+17.3%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsPERSHING SQUARE INC. is an activist investor that takes positions to influence management, specialised in real_estate (100% of the long book), running a $569.3M US long book across 1 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: HOWARD HUGHES HOLDINGS INC.
Over the last 4 quarters its long book ran on average 1.5pp per quarter behind the S&P 500, beating the index in 2 of 4 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q2 2025
+21.7%
Q3 2025
-2.9%
Q4 2025
-20.7%
Q1 2026
+17.3%
Sector allocation
Real estate 100%
Long book by quarter
What does PERSHING SQUARE own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| HHH HOWARD HUGHES HOLDINGS INC | Real estate | 9.0M | $569.3M | 100.0% | Held |
13F filing history
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