Pershing Square 13F Check: How quant ratings score Ackman’s top stakes in QSR, AMZN, MSFT, and BN

Pershing Square Capital Management, the fund run by billionaire hedge fund manager Bill Ackman, revealed its Q1 holdings for 2026 on Friday, valued at approximately $13.71B, according to its latest 13F filing [https://www.sec.gov/Archives/edgar/data/1336528/000117266126002336/xslForm13F_X02/infotable.xml].

The portfolio underwent significant structural changes during the quarter, highlighted by a major pivot into big tech. The fund initiated a massive new stake in Microsoft (5.65M shares valued at $2.09B), expanded its Amazon position by 19% sequentially to 11.45M shares ($2.39B), and held 2.66M shares of Meta Platforms—a slight sequential trim, but a massive new exposure compared to Q1 2025.

Conversely, the fund completely eliminated several long-term holdings. It dumped its remaining 3.03M shares of Hilton Worldwide during the quarter, while fully liquidating positions in Chipotle (21.54M shares) and Canadian Pacific Kansas City (14.8M shares) compared to the same period last year.

To fund the shift, Ackman aggressively slashed his Alphabet Class A and Class C holdings by 95% down to nominal tracking stakes, while enacting a minor 1% trim on Uber Technologies to bring its position to 29.95M shares.

According to data from Stockcircle.com, the manager posted a 7.12% gain over the past year, significantly underperforming the S&P 500's 25.12% return during the same period. This slower momentum extends into the medium term, with the fund delivering a 18.62% return over three years and 28.27% over five years. However, it has a strong 10-year performance of 197.19%, benefiting long-term investors.

As of March 31, 2026, the New York-based hedge fund maintained a highly concentrated portfolio of just 10 unique corporate positions. Here is a closer look at those holdings alongside their current Seeking Alpha Quant Ratings:

* Restaurant Brands International (QSR [https://seekingalpha.com/symbol/QSR]) – Quant rating [https://seekingalpha.com/symbol/QSR/ratings/quant-ratings]: 3.98 – Buy
* Amazon.com, Inc. (AMZN [https://seekingalpha.com/symbol/AMZN]) – Quant rating [https://seekingalpha.com/symbol/AMZN/ratings/quant-ratings#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]: 3.49 – Hold
* Alphabet Inc. (GOOG [https://seekingalpha.com/symbol/GOOG]) – Quant rating [https://seekingalpha.com/symbol/GOOG/ratings/quant-ratings]: 3.49 – Hold
* Meta Platforms (META [https://seekingalpha.com/symbol/META]) – Quant rating [https://seekingalpha.com/symbol/META/ratings/quant-ratings]: 3.47 – Hold
* Microsoft (MSFT [https://seekingalpha.com/symbol/MSFT]) - Quant rating [https://seekingalpha.com/symbol/AMZN/ratings/quant-ratings#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]: 3.46 – Hold
* Brookfield Corporation (BN [https://seekingalpha.com/symbol/BN]) – Quant rating [https://seekingalpha.com/symbol/BN/ratings/quant-ratings]: 3.34 – Hold
* Uber Technologies (UBER [https://seekingalpha.com/symbol/UBER]) – Quant rating [https://seekingalpha.com/symbol/UBER/ratings/quant-ratings]: 3.13 – Hold
* Seaport Entertainment Group (SEG [https://seekingalpha.com/symbol/SEG]) – Quant rating [https://seekingalpha.com/symbol/SEG/ratings/quant-ratings]: 3.04 – Hold
* Hertz Global Holdings (HTZ [https://seekingalpha.com/symbol/HTZ]) – Quant rating [https://seekingalpha.com/symbol/HTZ/ratings/quant-ratings]: 3.03 – Hold
* Howard Hughes Holdings (HHH [https://seekingalpha.com/symbol/HHH]) – Quant rating [https://seekingalpha.com/symbol/HHH/ratings/quant-ratings]: 1.36 – Strong Sell

MORE ON PERSHING SQUARE HOLDINGS

* Tracking Bill Ackman's Pershing Square 13F Portfolio - Q4 2025 Update [https://seekingalpha.com/article/4880842-bill-ackman-pershing-square-13f-portfolio-q4-2025-update]
* Pershing Square Holdings H2 2025 Letter To Shareholders [https://seekingalpha.com/article/4872882-pershing-square-holdings-h2-2025-letter-to-shareholders]
* Pershing Square Holdings to buy back up to $100M of shares [https://seekingalpha.com/news/4593968-pershing-square-holdings-to-buy-back-up-to-100m-of-shares]
* Bill Ackman in talks to launch fund to bet on investor complacency, FT reports [https://seekingalpha.com/news/4573589-bill-ackman-in-talks-to-launch-fund-to-bet-on-investor-complacency-ft-reports]
* Bill Ackman’s Pershing Square discloses new stake in Microsoft in Q1 [https://seekingalpha.com/news/4594141-bill-ackmans-pershing-square-discloses-new-stake-in-microsoft-in-q1#source=section%3Asummary%7Csection_asset%3Aall_news%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A1]