Teacher Retirement System of Texas (PSUS) discloses 10,270,000-share stake

Rhea-AI Filing Summary

Pershing Square USA, Ltd. filed an initial Form 3 indicating that the Teacher Retirement System of Texas is a ten percent owner of the company. The filing shows direct beneficial ownership of 10,270,000 shares of Common Stock as of April 30, 2026.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider TEACHER RETIREMENT SYSTEM OF TEXAS

Role null

Type	Security	Shares	Price	Value
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 10,270,000 shares (Direct, null)

Footnotes (1)

Key Figures

Shares owned: 10,270,000 shares Ownership status: Ten percent owner Transaction activity: 0 buy / 0 sell

3 metrics

Shares owned 10,270,000 shares Common Stock directly owned as of April 30, 2026

Ownership status Ten percent owner Reporting person classification in Form 3

Transaction activity 0 buy / 0 sell Form 3 holding entry only, no transactions

Key Terms

Common Stock, ten percent owner, Teacher Retirement System of Texas

3 terms

Common Stock financial

""security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

ten percent owner regulatory

""is_ten_percent_owner": 1"

Teacher Retirement System of Texas financial

""name": "TEACHER RETIREMENT SYSTEM OF TEXAS""

Understanding Insider Trading Forms →

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

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

TEACHER RETIREMENT SYSTEM OF TEXAS

(Last) (First) (Middle)

4655 MUELLER BLVD

(Street)

AUSTIN TEXAS 78723

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
04/30/2026

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)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

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)
Common Stock	10,270,000	D

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:

	Christopher Bowlin	05/06/2026
	** 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 the Form 3 filing for PSUS show about Teacher Retirement System of Texas?

The Form 3 shows that the Teacher Retirement System of Texas is a ten percent owner of Pershing Square USA, Ltd., with direct beneficial ownership of 10,270,000 shares of Common Stock as of April 30, 2026.

How many Pershing Square USA (PSUS) shares does Teacher Retirement System of Texas hold?

Teacher Retirement System of Texas reports direct beneficial ownership of 10,270,000 shares of Pershing Square USA, Ltd. Common Stock, based on the Form 3 holdings information dated April 30, 2026, with no separate buy or sell transaction reported.

Is Teacher Retirement System of Texas a ten percent owner of PSUS?

Yes. The Form 3 identifies the Teacher Retirement System of Texas as a ten percent owner of Pershing Square USA, Ltd., reflecting direct beneficial ownership of 10,270,000 shares of Common Stock as of April 30, 2026.

Does the PSUS Form 3 disclose any recent insider transactions?

The Form 3 functions as an initial ownership report and lists a holding entry only. It shows Teacher Retirement System of Texas directly holding 10,270,000 shares of Common Stock, with no separate buy, sell, or derivative transactions reported in the data provided.

What type of security is reported in the PSUS Form 3 for Teacher Retirement System of Texas?

The Form 3 reports holdings of Pershing Square USA, Ltd. Common Stock. Teacher Retirement System of Texas is shown as a ten percent owner with 10,270,000 shares directly held as of April 30, 2026, and no derivative positions listed.