Pershing Square, L.P.
Pershing Square, L.P. is a hedge fund based in New York, New York. According to its most recent Form D, filed Jun 16, 2026, the fund has sold $6,396,076,037 of interests to 672 investors since its first sale in Jan 2004. The filing does not set a minimum investment. It relies on the Section 3(c)(7) exclusion, so investors generally must be qualified purchasers. The offering uses Rule 506(c), which permits general advertising to investors verified as accredited. Related persons named in the filing include William Ackman; Pershing Square GP, LLC.
Performance
No verified returns have been reported for this fund. As a rough guide, Pershing Square Capital Management, L.P., which manages it, disclosed U.S. stock holdings that returned an estimated -9.0% 2026 YTD through Mar 31 (S&P 500: -4.6%), based only on its public 13F filings. Over a longer period, Q3 2024 to Q1 2026, the estimate is -1.2% (S&P 500: +19.5%).
This estimate covers the firm's whole disclosed long U.S. stock portfolio. It is not this fund's return and excludes dividends, fees, shorts, derivatives, bonds, cash and trading within each quarter.
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- Total raised
- $6,396,076,037Cumulative sales reported on Form D
- Investors
- 672
- First sale
- Jan 1, 2004
- Minimum investment
- None set
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(c)May advertise; investors must be verified as accredited
- Key people and entities
- William Ackman; Pershing Square GP, LLC
- Latest Form D
- Jun 16, 2026
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about Pershing Square, L.P.
What is the minimum investment for Pershing Square, L.P.?
Pershing Square, L.P.'s latest Form D, filed Jun 16, 2026, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in Pershing Square, L.P.?
Pershing Square, L.P. is generally open only to qualified purchasers (generally individuals with at least $5 million in investments), because it relies on Section 3(c)(7). It uses Rule 506(c), so it may advertise, but every investor must be verified as accredited.
How much has Pershing Square, L.P. raised?
Pershing Square, L.P. reports $6,396,076,037 sold from 672 investors on its Form D filed Jun 16, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is Pershing Square, L.P. based?
Pershing Square, L.P. is based in New York, New York and is managed by Pershing Square Capital Management, L.P..
When did Pershing Square, L.P. launch?
Pershing Square, L.P. reports its first sale in Jan 2004.
Size compared with every hedge fund
Raised more than 99% of the 2,545 hedge funds based in New York, and more than 99% of all 10,308 that report sales.