Texas Teachers sells 6,205 Pershing Square USA shares

Pershing Square USA, Ltd. (PSUS) reported an insider transaction by TEACHER RETIREMENT SYSTEM OF TEXAS, a ten percent owner.

Rhea-AI Filing Summary

Pershing Square USA, Ltd. (PSUS) reported an insider transaction by TEACHER RETIREMENT SYSTEM OF TEXAS, a ten percent owner. On 2026-08-17, this holder executed a sale of 6,205 shares of Common Stock at a price of $40.06 per share in an open market or private transaction. Following this sale, the reporting holder’s directly owned position is 10,143,795 shares of PSUS common stock.

Insider Trade Summary

Net Seller: 6,205 shares

Net Sell 1 txn

Insider TEACHER RETIREMENT SYSTEM OF TEXAS

Role 10% Owner

Sold 6,205 shs ($249K)

Type	Security	Shares	Price	Value
Sale	Common Stock	6,205	$40.06	$249K

Holdings After Transaction: Common Stock — 10,143,795 shares (Direct)

Key Figures

Shares sold: 6,205 shares Sale price per share: $40.06 per share Shares owned after transaction: 10,143,795 shares +1 more

4 metrics

Shares sold 6,205 shares Common Stock sale on 2026-08-17 reported by a ten percent owner

Sale price per share $40.06 per share Price for the 6,205 PSUS Common Stock shares sold

Shares owned after transaction 10,143,795 shares Directly owned PSUS Common Stock by TEACHER RETIREMENT SYSTEM OF TEXAS after sale

Net shares sold 6,205 shares Net sell activity in this Form 4 per transaction summary

Key Terms

ten percent owner, Common Stock, open market or private transaction

3 terms

ten percent owner regulatory

"TEACHER RETIREMENT SYSTEM OF TEXAS is identified as a ten percent owner"

Common Stock financial

"The transaction involved Pershing Square USA, Ltd. 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.

open market or private transaction financial

"Transaction code S indicates a sale in open market or private transaction"

FAQ

What insider transaction did PSUS disclose for TEACHER RETIREMENT SYSTEM OF TEXAS?

PSUS disclosed that TEACHER RETIREMENT SYSTEM OF TEXAS sold 6,205 shares of Common Stock on 2026-08-17. The transaction was reported as a sale in an open market or private transaction at $40.06 per share.

How many PSUS shares did TEACHER RETIREMENT SYSTEM OF TEXAS sell and at what price?

TEACHER RETIREMENT SYSTEM OF TEXAS sold 6,205 PSUS shares at $40.06 per share. The sale was categorized as a Common Stock transaction and coded as an open market or private sale.

What is TEACHER RETIREMENT SYSTEM OF TEXAS’s remaining PSUS ownership after this Form 4?

After the reported sale, TEACHER RETIREMENT SYSTEM OF TEXAS holds 10,143,795 PSUS shares directly. This figure reflects its position in Pershing Square USA, Ltd. Common Stock immediately following the 6,205-share sale.

What transaction code was used for the PSUS insider trade by TEACHER RETIREMENT SYSTEM OF TEXAS?

The filing used transaction code S for the PSUS trade, indicating a sale in an open market or private transaction. The transaction involved 6,205 shares of Common Stock at $40.06 per share.

Is TEACHER RETIREMENT SYSTEM OF TEXAS a significant holder of PSUS stock?

Yes. TEACHER RETIREMENT SYSTEM OF TEXAS is identified as a ten percent owner of PSUS. After the reported sale, it continues to directly hold 10,143,795 shares of Pershing Square USA, Ltd. Common Stock.

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Available on EDGAR 08/19/2026 - 04:07 PM Accepted by SEC EDGAR 08/19/2026 - 04:06 PM Learn about SEC filing dates

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/17/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/17/2026		S		6,205	D	$40.06	10,143,795	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	Elena Barreiro	08/19/2026
	** 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 4 (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 4: SEC 1474 (03-26)