PSUS Pershing Square USA, Ltd.

NEUTRAL Impact: 3/10 3
Horizon weeks Filed Apr 29, 2026 Processed 1mo ago SEC 0001140361-26-017575
Latest settled — T+20d ⚠ clustered
PSUS ▼ -1.66% at T+20d
NEUTRAL call ✗ call lost -1.66% · α vs SPY -7.71% · entry $40.90 → $40.22
Next anchor: T+60d in 6w
Last close $37.84 (close Jun 8) · -7.48% from $40.90 entry
Entry anchored
Apr 28, 2026
via day open
T+1d
+4.43%
call +4.43% · α +3.40%
$42.71
settled 6w ago
T+5d
+4.62%
call +4.62% · α +1.51%
$42.79
settled 5w ago
T+20d
-1.66%
call -1.66% · α -7.71%
$40.22
settled 14d ago
T+60d
—
call — · α —
—
in 6w

Price Chart

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Executive Summary

William A. Ackman, Ryan Israel, Michael Gonnella, Ben Hakim, Anne Farlow, Evan Bakst, Jessica Falzone, Lisa Polsky, and Pershing Square Capital Management, L.P. filed initial statements of beneficial ownership (Form 3) for Pershing Square USA, Ltd. (PSUS), a newly formed closed-end fund. The filings confirm the full management team and investment adviser are in place, signaling the fund is operationally ready to launch or has recently launched. No ownership amounts or financial terms were disclosed.

Actionable Insight

Monitor for the fund's first 10-Q or 8-K earnings release to assess AUM, expense ratios, and initial portfolio composition. The cluster of Form 3 filings confirms the fund is operational, but no trading signal is generated until financial data is published.

Key Facts

  • Nine Form 3 filings were filed on April 28, 2026, for Pershing Square USA, Ltd. (PSUS).
  • Reporting persons include CEO William A. Ackman, CIO Ryan Israel, CFO Michael Gonnella, President Ben Hakim, Trustees Anne Farlow, Evan Bakst, and Lisa Polsky, Secretary Jessica Falzone, and the investment adviser Pershing Square Capital Management, L.P.
  • The issuer was formerly named SPSU, Ltd. and changed its name to Pershing Square USA, Ltd. on November 29, 2023.
  • Each insider filed a Power of Attorney authorizing Halit Coussin, Tina Chan, and/or Jessica Falzone to execute Section 16 filings on their behalf.
  • No beneficial ownership amounts, share counts, or dollar values were disclosed in any of the filings.

Financial Impact

No financial figures disclosed in the filings.

Risk Factors

  • Newly formed closed-end fund with no operating history or disclosed financials.
  • Potential for below-expected AUM or poor initial performance post-launch.
  • No disclosure of insider ownership levels, limiting insight into alignment with shareholders.

Documents Analyzed

This report is based on 35 SEC documents filed with EDGAR.

DocumentAccession Number
3 Filing (PSUS) — Batch item 10001140361-26-017575
Document: 0001140361-26-017575-index-headers.html0001140361-26-017574
Document: 0001140361-26-017575-index.html0001140361-26-017573
Document: 0001140361-26-017575.txt0001140361-26-017571
3 Filing (PSUS) — Batch item 50001140361-26-017574
Document: 0001140361-26-017574-index-headers.html0001140361-26-017579
Document: 0001140361-26-017574-index.html0001140361-26-017578
Document: 0001140361-26-017574.txt0001140361-26-017577
3 Filing (PSUS) — Batch item 90001140361-26-017573
Document: 0001140361-26-017573-index-headers.html0001140361-26-017575
Document: 0001140361-26-017573-index.html0001140361-26-017575
Document: 0001140361-26-017573.txt0001140361-26-017575
3 Filing (PSUS) — Batch item 130001140361-26-017571
Document: 0001140361-26-017571-index-headers.html0001140361-26-017575
Document: 0001140361-26-017571-index.html0001140361-26-017575
Document: 0001140361-26-017571.txt0001140361-26-017575
3 Filing (PSUS) — Batch item 170001140361-26-017581
Document: 0001140361-26-017581-index-headers.html0001140361-26-017575
Document: 0001140361-26-017581-index.html0001140361-26-017575
Document: 0001140361-26-017581.txt0001140361-26-017575
3 Filing (PSUS) — Batch item 210001140361-26-017579
Document: 0001140361-26-017579-index-headers.html0001140361-26-017575
Document: 0001140361-26-017579-index.html0001140361-26-017575
Document: 0001140361-26-017579.txt0001140361-26-017575
3 Filing (PSUS) — Batch item 250001140361-26-017578
Document: 0001140361-26-017578-index-headers.html0001140361-26-017575
Document: 0001140361-26-017578-index.html0001140361-26-017575
Document: 0001140361-26-017578.txt0001140361-26-017575
3 Filing (PSUS) — Batch item 290001140361-26-017577
Document: 0001140361-26-017577-index-headers.html0001140361-26-017575
Document: 0001140361-26-017577-index.html0001140361-26-017575
Document: 0001140361-26-017577.txt0001140361-26-017575
3 Filing (PSUS) — Batch item 330001140361-26-017583
Document: 0001140361-26-017583-index.html0001140361-26-017575
Document: 0001140361-26-017583.txt0001140361-26-017575
6 reports for PSUS
Performance horizon
100% Hit rate 3 of 3 directional calls best @ T+1▲ +0.21%Apr 30, 2026
Filters
Rows
Reports for PSUS — sortable, filterable
Type Now
May 6, 2026
4w ago
3
NEUTRAL ★ 3/10
$42.33 $38.23▼ −9.69%▼ −12.82%$37.84 (−10.61%)
Apr 30, 2026
5w ago
424B4
NEUTRAL ★ 5/10
$42.71 $40.22▼ −5.83%▼ −10.80%$37.84 (−11.40%)
Apr 30, 2026
5w ago
Insider Cluster
BULLISH ★ 8/10
$42.71 $40.22▼ −5.83%▼ −10.80%$37.84 (−11.40%)
Apr 30, 2026
5w ago
Insider Cluster
BULLISH ★ 8/10
$42.71 $40.22▼ −5.83%▼ −10.80%$37.84 (−11.40%)
Apr 30, 2026
5w ago
Insider Cluster
BULLISH ★ 8/10
$42.71 $40.22▼ −5.83%▼ −10.80%$37.84 (−11.40%)
Apr 29, 2026
6w ago
3
NEUTRAL ★ 3/10
$40.90 $40.22▼ −1.66%▼ −7.71%$37.84 (−7.48%)
Showing 6 of 6

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