Tracking Bill Ackman's Pershing Square 13F Portfolio - Q4 2025 Update

John Vincent26.06K FollowersFollow5ShareSavePlay(16min)CommentsSummaryPershing Square's Q4 2025 13F portfolio rose to ~$15.53B, with top holdings in Brookfield, Uber, and Amazon comprising ~59%.They significantly increased stakes in BN (+50%) and AMZN (+65%), while initiating a major new position in Meta Platforms at 11.37% of the portfolio.Stake in Uber saw marginal trimming, and fully exited Chipotle and Hilton, citing valuation as the main reason for the HLT exit.Pershing Square Holdings continues to trade at a notable discount to NAV (~$56 vs. ~$77), and a new dual IPO for Pershing Square Capital and PSUS is planned.lucentius/iStock via Getty Images This article is part of a series that provides an ongoing analysis of the changes made to Pershing Square's 13F portfolio on a quarterly basis. It is based on Ackman's regulatory 13F Form filed on 02/17/2026. PleaseThis article was written byJohn Vincent26.06K FollowersFollowFocused on analyzing 13F reports & building tools to help DIY investors generate absolute returns through exploiting inefficiency, volatility, and momentum.

Asymmetric Bets Focus. Broader commentary for DIY investors at Substack: https://diyabsolutereturns.substack.com/ . Check out my books in the Demystifying Web3 and Beyond series: 1. Demystifying Bitcoin: Paving the Way to Global Digital Money.2. Demystifying Crypto: Powering a Borderless Digital Economy.Analyst’s Disclosure: I/we have a beneficial long position in the shares of META, AMZN, GOOGL, UBER, FNMA, FMCC, HHH either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.