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Private company

Pershing Square Capital Management, L.P.

American company, incorporated in Delaware. Summary from the record

Last updated Oct 21, 2026.

Overview

  • HeadquartersDE1

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Corporate structure

Pershing Square Capital Management, L.P. is part of a group headed by PERSHING SQUARE INC.. 7 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Pershing Square Capital Management, L.P.

  • William Albert Ackman Owns control (general partner, trustee or manager) of Pscm Gp, LLC, since 12/2003 (Form ADV)
  • Halit Coussin Owns control (general partner, trustee or manager) of Pscm Gp, LLC, since 05/2024 (Form ADV)
  • Michael Gonnella Owns control (general partner, trustee or manager) of Pscm Gp, LLC, since 05/2024 (Form ADV)
  • Ryan Michael Israel Owns control (general partner, trustee or manager) of Pscm Gp, LLC, since 05/2024 (Form ADV)
  • Benny (no Middle Name) Hakim Owns control (general partner, trustee or manager) of Pscm Gp, LLC, since 05/2024 (Form ADV)
  • Anthony Ketay Asnes Owns control (general partner, trustee or manager) of Pscm Gp, LLC, since 02/2025 (Form ADV)

Built from major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (5 companies); owners and owned firms from Form ADV, the registration investment advisers file with the SEC. Each entity in the chart links to its source.

Investment adviser

Pershing Square Capital Management, L.P. is registered with the SEC as an investment adviser. This is what it reports on Form ADV, the registration every adviser files and keeps current.

  • Assets it manages$25.1B2 5 accounts, all with discretion
  • Employees48 11 in investment advice or research
  • ClientsPooled investment vehicles (other than investment companies and: 4 ($19.4B); Investment companies: 1 ($5.7B); Corporations or other businesses not listed above: 1
  • How it is paidA percentage of assets under its management; Fixed fees (other than subscription fees); Performance-based fees; Other: FEE ON APPRECIATION IN CLIENT'S COMMON STOCK PRICE
  • What it doesPortfolio management for investment companies; Portfolio management for pooled investment vehicles (other than investment companies); Other: PROVIDE COMPANY WITH INVESTMENT ADVISORY, CAPITAL ALLOCATION AND OTHER SERVICES
  • Holds client assetsYes: cash and securities
  • RegistrationSEC 801-63688, CRD 132982 IAPD record

Who owns it

Owners of 5% or more as the firm lists them (Schedule A), and the owners of those owners up the chain (Schedule B).

  • PERSHING SQUARE INC. (public company)owns 75% or more, since 04/2026
  • William Albert Ackmanowns general partner, trustee or manager of PSCM GP, LLC, since 12/2003
  • Anthony Ketay Asnesowns general partner, trustee or manager of PSCM GP, LLC, since 02/2025
  • Halit Coussinowns general partner, trustee or manager of PSCM GP, LLC, since 05/2024
  • Michael Gonnellaowns general partner, trustee or manager of PSCM GP, LLC, since 05/2024
  • Benny (No Middle Name) Hakimowns general partner, trustee or manager of PSCM GP, LLC, since 05/2024
  • Ryan Michael Israelowns general partner, trustee or manager of PSCM GP, LLC, since 05/2024
  • PERSHING SQUARE INC. (public company)owns 75% or more of PSCM GP, LLC, since 04/2026

Disciplinary record

The firm answered yes to 3 of the disciplinary questions on Form ADV (Item 11). A yes can concern the firm itself or an affiliate.

  • The SEC or the CFTC has found the firm or an advisory affiliate to have been involved in a violation of SEC or CFTC regulations or statutes.
  • The SEC or the CFTC has entered an order against the firm or an advisory affiliate in connection with investment-related activity.
  • The SEC or the CFTC has imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from any activity.

Each event as the firm describes it on its Disclosure Reporting Pages:

U.S. SECURITIES AND EXCHANGE COMMISSION · Jan 17, 2017 · fine $75,000 · final

Allegations: ON JANUARY 17, 2017, THE SEC INSTITUTED ADMINISTRATIVE PROCEEDINGS AGAINST THE REGISTRANT, PURSUANT TO SECTION 203(E) AND 203(K) OF THE ADVISERS ACT, FINDING THAT THE REGISTRANT HAD VIOLATED ADVISERS ACT RULE 206(4)-5 WHEN A FORMER EMPLOYEE MADE A $500 PERSONAL POLITICAL CONTRIBUTION TO A CANDIDATE FOR THE DEMOCRATIC PARTY NOMINATION FOR GOVERNOR OF MASSACHUSETTS (THE "CONTRIBUTION") WHILE THE REGISTRANT ADVISED A FUND WHERE A MASSACHUSETTS GOVERNMENT ENTITY (THE "INVESTOR") WAS AN INVESTOR. THE SEC FOUND THAT, AFTER THE CONTRIBUTION WAS MADE, ITS RETURN WAS SOUGHT AND RECEIVED, AND NOTED THAT ADVISERS ACT RULE 206(4)-5 DOES NOT REQUIRE A SHOWING OF QUID PRO QUO OR ACTUAL INTENT TO INFLUENCE AN ELECTED OFFICIAL OR CANDIDATE.

Sanction: Civil and Administrative Penalt(ies) /Fine(s)

How it ended: Order

Detail: WITHOUT ADMITTING TO ANY ALLEGATIONS, THE REGISTRANT CONSENTED TO THE ISSUANCE OF AN ORDER AND PAID A CIVIL MONEY PENALTY OF $75,000 ON JANUARY 18, 2017.

Summary: ON JANUARY 17, 2017, THE REGISTRANT AND THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE "COMMISSION") ENTERED INTO A SETTLEMENT REGARDING A PREVIOUSLY REPORTED CAMPAIGN CONTRIBUTION BY A FORMER EMPLOYEE MADE IN VIOLATION OF THE COMMISSION'S RULES GOVERNING POLITICAL CONTRIBUTIONS BY INVESTMENT ADVISER EMPLOYEES AND THE REGISTRANT'S OWN COMPLIANCE POLICIES. WITHOUT ADMITTING OR DENYING LIABILITY, THE REGISTRANT AGREED TO PAY $75,000 TO RESOLVE THIS MATTER. THE $500 CONTRIBUTION IN QUESTION WAS TO THE SISTER OF A PERSONAL FRIEND OF THE FORMER EMPLOYEE. THE FRIEND'S SISTER WAS TRYING, UNSUCCESSFULLY, TO ENTER ONE OF THE GUBERNATORIAL PRIMARIES IN MASSACHUSETTS. THE CONTRIBUTION WAS MADE OVER TWO YEARS AFTER A MASSACHUSETTS PENSION FUND FIRST INVESTED WITH THE REGISTRANT'S FUNDS. THE FORMER EMPLOYEE REQUESTED THAT THE CONTRIBUTION BE RETURNED, AND IT WAS REFUNDED. THE REGISTRANT WAS UNAWARE OF THE CONTRIBUTION AT THE TIME IT WAS MADE. UPON LEARNING OF THE CONTRIBUTION, THE REGISTRANT FILED AN EXEMPTION APPLICATION WITH THE COMMISSION'S DIVISION OF INVESTMENT MANAGEMENT STATING THAT IT SHOULD NOT BEAR ANY LIABILITY FOR ITS FORMER EMPLOYEE'S ERROR. AS MADE CLEAR IN THE EXEMPTION APPLICATION, THE $500 CONTRIBUTION, WHICH WAS $350 GREATER THAN PERMITTED BY COMMISSION RULES, WAS MADE BY A FORMER EMPLOYEE WHO WAS NOT A MEMBER OF THE REGISTRANT'S INVESTOR RELATIONS GROUP AND WAS NOT RESPONSIBLE FOR SECURING OR RETAINING INVESTMENTS IN THE REGISTRANT'S FUNDS. THE CONTRIBUTION WAS MADE IN DIRECT VIOLATION OF THE REGISTRANT'S WRITTEN COMPLIANCE POLICIES AND WAS CONTRARY TO A SUBSEQUENT CERTIFICATION BY THE EMPLOYEE THAT HE HAD COMPLIED WITH THE REGISTRANT'S POLICIES GOVERNING POLITICAL CAMPAIGN CONTRIBUTIONS. MOREOVER, AT PRECISELY THE SAME TIME AS THE UNREPORTED CONTRIBUTION, THE REGISTRANT'S CHIEF EXECUTIVE OFFICER WILLIAM A. ACKMAN REQUESTED PERMISSION FROM THE REGISTRANT'S COMPLIANCE GROUP TO MAKE AN IDENTICAL CONTRIBUTION TO THE SAME PERSON IN MASSACHUSETTS. WHEN INFORMED OF THE $150 LIMIT, MR. ACKMAN MADE A $150 CONTRIBUTION, AS PERMITTED BY LAW. THE ORDER SETTLING THIS MATTER BRIEFLY DESCRIBES THE CIRCUMSTANCES THAT SERVE AS THE BASIS FOR THE VIOLATION, WHICH ARE SET FORTH IN GREATER DETAIL IN THE REGISTRANT'S EXEMPTION APPLICATION AND WHICH, AS OF THE DATE HEREOF, IS AVAILABLE ON THE COMMISSION'S WEBSITE. THE ORDER ALSO FINDS THAT THE RULE IN QUESTION DOES NOT REQUIRE A SHOWING OF ACTUAL INTENT TO INFLUENCE A CANDIDATE FOR ELECTED OFFICE, AND THAT THE COMMISSION WAS NOT REQUIRED TO SHOW THAT THE REGISTRANT WAS EVEN AWARE THAT IT WAS VIOLATING THE RULE. THE REGISTRANT FOLLOWS RIGOROUS COMPLIANCE PROCEDURES, TAKES ALL REASONABLE STEPS TO ENFORCE ITS POLICIES, AND CAREFULLY TRAINS AND PERIODICALLY REMINDS ALL EMPLOYEES AND RELATED PARTIES OF THOSE POLICIES. No Information Filed

Resolved: Jan 17, 2017

In its own words: the client brochure

Form ADV Part 2A, the plain-English document an adviser must give its clients, quoted as filed 6/3/2026.3 It covers the firm’s services, fees, investment strategies and their risks, and its conflicts of interest. The firm also files 1 other brochure.

Item 4: Advisory business Services

A. Investment-Related Business. Mr. Ackman is registered with the Commodity Futures Trading Commission (“CFTC”) as a principal and an associated person of the Adviser. Mr. Ackman is not actively engaged in any other investment- related business or occupation. However, Mr. Ackman oversees the management of TABLE Management, L.P., a family office established to make certain investments for the benefit of Mr. Ackman, members of his immediate family and certain employees of the family office. While day-to-day management of the family office has been delegated to its employees, Mr. Ackman retains oversight and ultimate control over the operation of the family office. Mr. Israel is registered with the CFTC as a principal of the Adviser. Mr. Israel is not actively engaged in any other investment- related business or occupation. Mr. Hakim is registered with the CFTC as a principal of the Adviser. Mr. Hakim is not actively engaged in any other investment- related business or occupation.

B. Other Business. Mr. Ackman is not actively engaged in any other business or occupation for compensation not discussed in response to Item 4.A., above, that provides a substantial source of his income or involves a substantial amount of his time.

-4#617296.2

Item 5: Fees and compensation Fees

Mr. Ackman does not receive any economic benefit for providing advisory services to anyone who is not a client. In connection with Mr. Ackman’s authorship of posts on social media platforms, he may from time to time receive a share of a platform’s advertising revenue derived from such posts. Such posts may contain content relating to macroeconomic, market or political conditions, among other matters, that may be relevant to the business of the Adviser or that of the funds it advises. The Adviser does not anticipate that any such compensation would create a conflict of interest on the part of the Mr. Ackman or the Adviser, nor that any such compensation would be substantial in amount. Mr. Israel does not receive economic benefit for providing advisory services to anyone who is not a client. Mr. Hakim does not receive economic benefit for providing advisory services to anyone who is not a client.

-5#617296.2

Item 7: Types of clients

Not applicable.

-7#617296.2

Item 6: Performance-based fees and side-by-side management Conflicts of interest

In his role as CEO of the Adviser, Mr. Ackman has been delegated ultimate responsibility for the operations of the Adviser. Mr. Ackman discusses investment decisions and operational matters with the other senior personnel of the Adviser, including but not limited to Mr. Israel and Mr. Hakim. Mr. Ackman, Mr. Israel, Mr. Hakim, and the other senior personnel are also subject to the compliance policies and procedures adopted by the Adviser. Mr. Ackman and other senior personnel of the Adviser can be reached by calling 212-813-3700.

-6#617296.2

Filings

25 filings to the SEC since October 2021: 25 other. The latest 20:

  1. Aug 25, 2026N-PX EDGAR
  2. Aug 14, 202613F-NT EDGAR
  3. May 15, 202613F-HR EDGAR
  4. Feb 17, 202613F-HR EDGAR
  5. Nov 14, 202513F-HR EDGAR
  6. Aug 21, 2025N-PX EDGAR
  7. Aug 14, 202513F-HR EDGAR
  8. May 15, 202513F-HR EDGAR
  9. Apr 16, 202513F-HR/A EDGAR
  10. Feb 14, 202513F-HR EDGAR
  11. Nov 14, 202413F-HR EDGAR
  12. Aug 29, 2024N-PX EDGAR
  13. Aug 14, 202413F-HR EDGAR
  14. May 15, 202413F-HR EDGAR
  15. Feb 14, 202413F-HR EDGAR
  16. Nov 14, 202313F-HR EDGAR
  17. Aug 14, 202313F-HR EDGAR
  18. May 15, 202313F-HR EDGAR
  19. Feb 13, 202313F-HR EDGAR
  20. Nov 14, 202213F-HR EDGAR

The 25 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Stakes it holds

Pershing Square Capital Management, L.P. has told the SEC it owns more than 5% of 5 companies, latest first (Schedules 13D and 13G).

Sources

The numbers on this page point here. Each one links to the record it came from.

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