Pershing Square USA (NYSE: PSUS) gets initial Form 3 from Pershing Square Capital

Rhea-AI Filing Summary

Pershing Square Capital Management, L.P. filed an initial statement of beneficial ownership for Pershing Square USA, Ltd., which trades under the symbol PSUS. The firm is identified as a director as well as an investment adviser and trustee, and no share transactions are reported in this filing.

Key Terms

Investment Adviser; Trustee, ten percent owner, director

3 terms

Investment Adviser; Trustee financial

""other": "Investment Adviser; Trustee""

ten percent owner financial

""is_ten_percent_owner": 0"

director financial

""is_director": 1"

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SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Pershing Square Capital Management, L.P.

(Last) (First) (Middle)

787 ELEVENTH AVENUE

9TH FLOOR

(Street)

NEW YORK NEW YORK 10019

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
04/28/2026

3. Issuer Name and Ticker or Trading Symbol
Pershing Square USA, Ltd. [ PSUS ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Investment Adviser; Trustee

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

Nicholas Botta, a member of the board of trustees of the Issuer, is acting in such capacity as a representative of the Reporting Person. As a result, the Reporting Person is a trustee by deputization for purposes of Section 16 of the Exchange Act.

No securities are beneficially owned.

	/s/ William A. Ackman, Authorized Signatory	04/28/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Pershing Square Capital Management’s Form 3 for PSUS show?

The Form 3 shows Pershing Square Capital Management, L.P. as a director, investment adviser and trustee of Pershing Square USA, Ltd. It is an initial ownership report and does not list any share purchases, sales, or other insider transactions in PSUS.

Did Pershing Square Capital report any PSUS share trades on this Form 3?

No trades are reported on this Form 3 for PSUS. The transaction summary shows zero purchases, zero sales, and no derivative exercises, indicating the filing only establishes initial beneficial ownership status without recording specific trading activity.

What role does Pershing Square Capital have at Pershing Square USA, Ltd. (PSUS)?

Pershing Square Capital Management, L.P. is listed as a director of Pershing Square USA, Ltd. and also described as an investment adviser and trustee. This clarifies its governance and advisory relationship to PSUS rather than detailing a specific trading transaction.

Is Pershing Square Capital a ten percent owner of PSUS according to this filing?

The Form 3 indicates that Pershing Square Capital Management, L.P. is not marked as a ten percent owner of PSUS. Instead, it is identified as a director and as an investment adviser and trustee, focusing on its governance and advisory roles.

Why is a Form 3 important for PSUS investors?

A Form 3 gives investors insight into who holds reportable beneficial ownership when a company like PSUS becomes subject to reporting rules. It identifies key insiders or related entities, helping investors understand governance and potential influence, even when no transactions are reported yet.