Pershing Square USA, Ltd. reported large equity positions acquired by affiliated entities in connection with its initial public offering and related private placements on April 30, 2026. Pershing Square PSUS Holdings, LLC received 1,000,000 of the issuer’s 7.50% Series A Cumulative Preferred Shares at $50 per share and now holds all outstanding preferred shares. Affiliates also acquired and restructured holdings in the issuer’s Common Shares of Beneficial Interest, including a 96,000,000-share grant at $50 per share, resulting in indirect ownership of 96,342,320 common shares after the transactions. Certain common shares were acquired and immediately resold by Pershing Square Inc., with all resale proceeds delivered to the issuer and none retained by Pershing Square Inc.
Pershing Square USA, Ltd. director and trustee Nicholas Anthony Botta reported an open-market purchase of Common Shares of Beneficial Interest. On April 30, 2026, he bought 250,000 shares at $50.00 per share, all acquired in connection with the PSUS initial public offering. Following this transaction, he directly holds 250,000 Common Shares of Beneficial Interest.
Pershing Square USA, Ltd. Chief Compliance Officer Coussin Halit bought 200,000 Common Shares of Beneficial Interest on April 30, 2026. The shares were acquired at $50.00 per share in connection with the PSUS initial public offering, giving him 200,000 shares owned directly after the transaction.
Pershing Square USA, Ltd. president Hakim Ben reported significant personal purchases of the fund’s Common Shares of Beneficial Interest. On April 30, 2026, he bought a total of 350,000 shares at $50.00 per share, split between the PSUS initial public offering and a concurrent private placement.
Pershing Square USA, Ltd. Chief Investment Officer Ryan Israel reported an open-market purchase of 500,000 Common Shares of Beneficial Interest of PSUS. The shares were bought on April 30, 2026 at a price of $50.00 per share, for total consideration of $25,000,000. Following this transaction, Israel directly holds 500,000 PSUS common shares. The footnotes state that this acquisition occurred in connection with the PSUS initial public offering completed on April 30, 2026.
Pershing Square USA, Ltd. secretary Jessica A. Falzone reported an open-market purchase of 2,000 Common Shares of Beneficial Interest on April 30, 2026 at $50.00 per share. The filing shows she now directly owns 2,000 shares, with no derivative positions reported.
Footnotes explain that these shares were acquired in the PSUS Private Placement completed alongside initial public offerings of Pershing Square Inc. and Pershing Square USA, Ltd.
Pershing Square USA, Ltd. Chief Financial Officer Michael Gonnella reported an open-market purchase of 100,000 Common Shares of Beneficial Interest on April 30, 2026 at $50.00 per share. Following this transaction, he directly holds 100,000 shares.
According to the footnotes, this acquisition reflects the purchase of Pershing Square USA Common Shares in connection with the PSUS initial public offering completed on April 30, 2026, alongside related Pershing Square Inc. transactions.
Pershing Square USA, Ltd. Chief Executive Officer William A. Ackman reported substantial open-market purchases of the fund’s Common Shares of Beneficial Interest. On April 30, 2026, filings show net purchases of 4,897,171 shares at prices including $42 and $50 per share.
About 4,000,000 shares are held directly, while additional shares are held indirectly through a spouse-owned limited liability company and family trusts. Ackman may be deemed a beneficial owner of these indirect holdings but disclaims beneficial ownership except to the extent of any pecuniary interest.
Pershing Square USA, Ltd. is registering 40,516,960 Common Shares at $50.00 per share in an offering expected to be part of a combined transaction that, together with a concurrent private placement, targets $5,000,000,000 of aggregate gross proceeds.
The prospectus describes a non-diversified, closed-end investment company managed by Pershing Square Capital Management, L.P., pursuing concentrated, long-term large-minority stakes in 12–15 large-cap growth companies and using asymmetric hedges and modest leverage. The Company intends to issue $50 million aggregate liquidation preference of 7.50% Series A Preferred Shares concurrently.