{"transactions":[{"id":4636436,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":50002,"kind":"person","name":"ISRAEL RYAN","position":1,"cik":"0001597463","reported_name":"ISRAEL RYAN","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"Chief Investment Officer"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-10-06T21:59:00.000Z","date":"2026-10-06","kind":"purchase","planned":false,"acquired":true,"shares":57659,"price":37.8737,"value":2183759.6683,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"The price reported in Column 4 is a weighted average price. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this Form 4."},{"field":"kind","element":"transactionCoding","label":"F4","text":"Reflects the acquisition of the Issuer's Common Shares of Beneficial Interest through multiple open market transactions at prices ranging from $37.50 to $38.15, inclusive."}],"balance_after":756613,"source":{"system":"sec-edgar","filing":"0001193125-26-415861","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/2002660/000119312526415861/ownership.xml","form_type":"4"}},{"id":4636435,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":50002,"kind":"person","name":"ISRAEL RYAN","position":1,"cik":"0001597463","reported_name":"ISRAEL RYAN","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"Chief Investment Officer"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-10-06T21:59:00.000Z","date":"2026-10-05","kind":"purchase","planned":false,"acquired":true,"shares":120816,"price":37.4454,"value":4524003.4464,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F2","text":"The price reported in Column 4 is a weighted average price. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this Form 4."},{"field":"kind","element":"transactionCoding","label":"F3","text":"Reflects the acquisition of the Issuer's Common Shares of Beneficial Interest through multiple open market transactions at prices ranging from $37.115 to $37.70, inclusive."}],"balance_after":698954,"source":{"system":"sec-edgar","filing":"0001193125-26-415861","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/2002660/000119312526415861/ownership.xml","form_type":"4"}},{"id":4636434,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":50002,"kind":"person","name":"ISRAEL RYAN","position":1,"cik":"0001597463","reported_name":"ISRAEL RYAN","relationship":{"director":false,"officer":true,"ten_percent_owner":false,"other":false,"officer_title":"Chief Investment Officer"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-10-06T21:59:00.000Z","date":"2026-10-02","kind":"purchase","planned":false,"acquired":true,"shares":78138,"price":37.2092,"value":2907452.4696,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"Reflects the acquisition of the Issuer's Common Shares of Beneficial Interest through multiple open market transactions at prices ranging from $37.035 to $37.35, inclusive."},{"field":"kind","element":"transactionCoding","label":"F2","text":"The price reported in Column 4 is a weighted average price. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this Form 4."}],"balance_after":578138,"source":{"system":"sec-edgar","filing":"0001193125-26-415861","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2002660/000119312526415861/ownership.xml","form_type":"4"}},{"id":680095,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":21291,"kind":"person","name":"POLSKY LISA","position":1,"cik":"0001390950","reported_name":"POLSKY LISA","relationship":{"director":true,"officer":false,"ten_percent_owner":false,"other":true,"other_text":"Trustee"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-08-20T12:16:26.000Z","date":"2026-08-18","kind":"purchase","planned":false,"acquired":true,"shares":6177,"price":39.45,"value":243682.65,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"Reflects the acquisition of the Issuer's Common Shares of Beneficial Interest through open market purchase."}],"balance_after":6177,"source":{"system":"sec-edgar","filing":"0001193125-26-358101","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2002660/000119312526358101/ownership.xml","form_type":"4"}},{"id":682344,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":21905,"kind":"organization","name":"TEACHER RETIREMENT SYSTEM OF TEXAS","position":1,"cik":"0000796848","reported_name":"TEACHER RETIREMENT SYSTEM OF TEXAS","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-08-19T20:06:25.000Z","date":"2026-08-17","kind":"sale","planned":false,"acquired":false,"shares":6205,"price":40.06,"value":248572.3,"ownership":{"direct":true},"balance_after":10143795,"source":{"system":"sec-edgar","filing":"0000796848-26-000011","document":"primary_doc.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/796848/000079684826000011/primary_doc.xml","form_type":"4"}},{"id":696439,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":21905,"kind":"organization","name":"TEACHER RETIREMENT SYSTEM OF TEXAS","position":1,"cik":"0000796848","reported_name":"TEACHER RETIREMENT SYSTEM OF TEXAS","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-08-05T19:23:57.000Z","date":"2026-08-04","kind":"sale","planned":false,"acquired":false,"shares":25000,"price":38.1,"value":952500.0,"ownership":{"direct":true},"balance_after":10150000,"source":{"system":"sec-edgar","filing":"0000796848-26-000007","document":"primary_doc.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/796848/000079684826000007/primary_doc.xml","form_type":"4"}},{"id":696438,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":21905,"kind":"organization","name":"TEACHER RETIREMENT SYSTEM OF TEXAS","position":1,"cik":"0000796848","reported_name":"TEACHER RETIREMENT SYSTEM OF TEXAS","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-08-05T19:23:57.000Z","date":"2026-08-04","kind":"sale","planned":false,"acquired":false,"shares":25000,"price":38.04,"value":951000.0,"ownership":{"direct":true},"balance_after":10175000,"source":{"system":"sec-edgar","filing":"0000796848-26-000007","document":"primary_doc.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/796848/000079684826000007/primary_doc.xml","form_type":"4"}},{"id":696442,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":21905,"kind":"organization","name":"TEACHER RETIREMENT SYSTEM OF TEXAS","position":1,"cik":"0000796848","reported_name":"TEACHER RETIREMENT SYSTEM OF TEXAS","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-08-05T19:15:05.000Z","date":"2026-08-03","kind":"sale","planned":false,"acquired":false,"shares":20000,"price":38.13,"value":762600.0,"ownership":{"direct":true},"balance_after":10200000,"source":{"system":"sec-edgar","filing":"0000796848-26-000006","document":"primary_doc.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/796848/000079684826000006/primary_doc.xml","form_type":"4"}},{"id":696441,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":21905,"kind":"organization","name":"TEACHER RETIREMENT SYSTEM OF TEXAS","position":1,"cik":"0000796848","reported_name":"TEACHER RETIREMENT SYSTEM OF TEXAS","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-08-05T19:15:05.000Z","date":"2026-08-03","kind":"sale","planned":false,"acquired":false,"shares":25000,"price":38.19,"value":954750.0,"ownership":{"direct":true},"balance_after":10220000,"source":{"system":"sec-edgar","filing":"0000796848-26-000006","document":"primary_doc.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/796848/000079684826000006/primary_doc.xml","form_type":"4"}},{"id":696440,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":21905,"kind":"organization","name":"TEACHER RETIREMENT SYSTEM OF TEXAS","position":1,"cik":"0000796848","reported_name":"TEACHER RETIREMENT SYSTEM OF TEXAS","relationship":{"director":false,"officer":false,"ten_percent_owner":true,"other":false}}],"security":"Common Stock","published_at":"2026-08-05T19:15:05.000Z","date":"2026-08-03","kind":"sale","planned":false,"acquired":false,"shares":25000,"price":38.11,"value":952750.0,"ownership":{"direct":true},"balance_after":10245000,"source":{"system":"sec-edgar","filing":"0000796848-26-000006","document":"primary_doc.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/796848/000079684826000006/primary_doc.xml","form_type":"4"}},{"id":734462,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":37333,"kind":"person","name":"Herring Bruce","position":1,"cik":"0002028544","reported_name":"Herring Bruce","relationship":{"director":true,"officer":false,"ten_percent_owner":false,"other":true,"other_text":"Trustee"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-06-17T21:50:12.000Z","date":"2026-06-17","kind":"purchase","planned":false,"acquired":true,"shares":5000,"price":40.25,"value":201250.0,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"Reflects the acquisition of the Issuer's Common Shares of Beneficial Interest through open market purchase."}],"balance_after":15000,"source":{"system":"sec-edgar","filing":"0001193125-26-274438","document":"ownership.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2002660/000119312526274438/ownership.xml","form_type":"4"}},{"id":794048,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":37333,"kind":"person","name":"Herring Bruce","position":1,"cik":"0002028544","reported_name":"Herring Bruce","relationship":{"director":true,"other":true,"other_text":"Trustee"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-05T01:08:40.000Z","date":"2026-04-30","kind":"purchase","planned":false,"acquired":true,"shares":10000,"price":43.414,"value":434140.0,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"Reflects the acquisition of the Issuer's Common Shares of Beneficial Interest through multiple open market transactions at prices ranging from $43.30 to $43.45, inclusive."},{"field":"kind","element":"transactionCoding","label":"F2","text":"The price reported in Column 4 is a weighted average price. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4."}],"balance_after":10000,"source":{"system":"sec-edgar","filing":"0001140361-26-018964","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2002660/000114036126018964/form4.xml","form_type":"4"}},{"id":794144,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":14574,"kind":"person","name":"Pershing Square Management, LLC","position":1,"cik":"0002027456","reported_name":"Pershing Square Management, LLC","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}},{"id":14573,"kind":"person","name":"Pershing Square Partner Group LLC","position":2,"cik":"0002129159","reported_name":"Pershing Square Partner Group LLC","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}},{"id":3337,"kind":"organization","name":"PERSHING SQUARE INC.","position":3,"cik":"0002026053","reported_name":"PERSHING SQUARE INC.","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}},{"id":50005,"kind":"person","name":"Pershing Square PSUS Holdings, LLC","position":4,"cik":"0002129160","reported_name":"Pershing Square PSUS Holdings, LLC","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}}],"security":"7.50% Series A Cumulative Preferred Shares","published_at":"2026-05-05T01:05:26.000Z","date":"2026-04-30","kind":"grant","planned":false,"acquired":true,"shares":1000000,"price":50,"value":50000000.0,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F7","text":"Reflects the issuance of the Issuer's 7.50% Series A Cumulative Preferred Shares (\"Preferred Shares\") to PSUS Holdings on April 30, 2026, in connection with the completion of the combined transaction. As of the date of this Form 4, PSUS Holdings holds all outstanding shares of Issuer Preferred Shares."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"In addition to Pershing Square Management, LLC, a Delaware limited liability company (\"ManagementCo\"), this Form 4 is being filed jointly by Pershing Square Inc., a Nevada corporation (\"PS Inc.\"), Pershing Square Partner Group, LLC (\"PSPG\"), a Delaware limited liability company, and Pershing Square PSUS Holdings, LLC, a Nevada limited liability company (\"PSUS Holdings\", and together with ManagementCo, PS Inc. and PSPG, the \"Reporting Persons\"), each of whom has the same business address as ManagementCo and may be deemed to beneficially own the securities reported on this Form 4 (the \"Subject Securities\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"ManagementCo holds majority voting power over PS Inc.'s shares (including in its capacity as the managing member of PSPG). PS Inc. holds 100% of the interests in PSUS Holdings. ManagementCo, PSPG and PS Inc. may each be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the \"Exchange Act\"). ManagementCo is governed by its members, consisting of William A. Ackman, Ryan Israel, Ben Hakim, Michael Gonnella, Anthony Massaro and Halit Coussin (collectively, the \"ManagementCo Members\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"(Continued from Footnote 2) Mr. Ackman owns 24.9% of the voting interests of ManagementCo, with Mr. Israel, Mr. Hakim, Mr. Gonnella, Mr. Massaro and Ms. Coussin each owning the remainder of the voting interests equally (approximately 15% each), and the approval of a majority of the voting interests is generally required to approve any action of ManagementCo. Each of PS Inc., PSPG, ManagementCo and the ManagementCo Members disclaims beneficial ownership of any Subject Securities, except to the extent of any pecuniary interest therein."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"On April 30, 2026, PS Inc. and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS Inc. common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement (the \"PSUS Private Placement\" and together with the PSUS IPO, the \"combined PSUS offering\") of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\") (collectively, the \"combined transaction\")."}],"balance_after":1000000,"source":{"system":"sec-edgar","filing":"0001140361-26-018962","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":4,"url":"https://www.sec.gov/Archives/edgar/data/2027456/000114036126018962/form4.xml","form_type":"4"}},{"id":794143,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":14574,"kind":"person","name":"Pershing Square Management, LLC","position":1,"cik":"0002027456","reported_name":"Pershing Square Management, LLC","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}},{"id":14573,"kind":"person","name":"Pershing Square Partner Group LLC","position":2,"cik":"0002129159","reported_name":"Pershing Square Partner Group LLC","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}},{"id":3337,"kind":"organization","name":"PERSHING SQUARE INC.","position":3,"cik":"0002026053","reported_name":"PERSHING SQUARE INC.","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}},{"id":50005,"kind":"person","name":"Pershing Square PSUS Holdings, LLC","position":4,"cik":"0002129160","reported_name":"Pershing Square PSUS Holdings, LLC","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-05T01:05:26.000Z","date":"2026-04-30","kind":"grant","planned":false,"acquired":true,"shares":3657680,"price":50,"value":182884000.0,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F6","text":"Reflects the acquisition of Issuer Common Shares by PSUS Holdings on April 30, 2026, in connection with the completion of the PSUS Private Placement."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"In addition to Pershing Square Management, LLC, a Delaware limited liability company (\"ManagementCo\"), this Form 4 is being filed jointly by Pershing Square Inc., a Nevada corporation (\"PS Inc.\"), Pershing Square Partner Group, LLC (\"PSPG\"), a Delaware limited liability company, and Pershing Square PSUS Holdings, LLC, a Nevada limited liability company (\"PSUS Holdings\", and together with ManagementCo, PS Inc. and PSPG, the \"Reporting Persons\"), each of whom has the same business address as ManagementCo and may be deemed to beneficially own the securities reported on this Form 4 (the \"Subject Securities\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"ManagementCo holds majority voting power over PS Inc.'s shares (including in its capacity as the managing member of PSPG). PS Inc. holds 100% of the interests in PSUS Holdings. ManagementCo, PSPG and PS Inc. may each be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the \"Exchange Act\"). ManagementCo is governed by its members, consisting of William A. Ackman, Ryan Israel, Ben Hakim, Michael Gonnella, Anthony Massaro and Halit Coussin (collectively, the \"ManagementCo Members\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"(Continued from Footnote 2) Mr. Ackman owns 24.9% of the voting interests of ManagementCo, with Mr. Israel, Mr. Hakim, Mr. Gonnella, Mr. Massaro and Ms. Coussin each owning the remainder of the voting interests equally (approximately 15% each), and the approval of a majority of the voting interests is generally required to approve any action of ManagementCo. Each of PS Inc., PSPG, ManagementCo and the ManagementCo Members disclaims beneficial ownership of any Subject Securities, except to the extent of any pecuniary interest therein."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"On April 30, 2026, PS Inc. and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS Inc. common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement (the \"PSUS Private Placement\" and together with the PSUS IPO, the \"combined PSUS offering\") of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\") (collectively, the \"combined transaction\")."}],"balance_after":4000000,"source":{"system":"sec-edgar","filing":"0001140361-26-018962","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/2027456/000114036126018962/form4.xml","form_type":"4"}},{"id":794142,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":14574,"kind":"person","name":"Pershing Square Management, LLC","position":1,"cik":"0002027456","reported_name":"Pershing Square Management, LLC","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}},{"id":14573,"kind":"person","name":"Pershing Square Partner Group LLC","position":2,"cik":"0002129159","reported_name":"Pershing Square Partner Group LLC","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}},{"id":3337,"kind":"organization","name":"PERSHING SQUARE INC.","position":3,"cik":"0002026053","reported_name":"PERSHING SQUARE INC.","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}},{"id":50005,"kind":"person","name":"Pershing Square PSUS Holdings, LLC","position":4,"cik":"0002129160","reported_name":"Pershing Square PSUS Holdings, LLC","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-05T01:05:26.000Z","date":"2026-04-30","kind":"other","planned":false,"acquired":false,"shares":96000000,"price":50,"value":4800000000.0,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F5","text":"Reflects the acquisition of Issuer Common Shares and the immediate resale of such Issuer Common Shares (the \"Resale Shares\") by PS Inc. on April 30, 2026 in connection with the completion of the combined PSUS offering.  Proceeds of the sale of the Resale Shares were immediately delivered to the Issuer and the resale did not result in any proceeds to PS Inc."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"In addition to Pershing Square Management, LLC, a Delaware limited liability company (\"ManagementCo\"), this Form 4 is being filed jointly by Pershing Square Inc., a Nevada corporation (\"PS Inc.\"), Pershing Square Partner Group, LLC (\"PSPG\"), a Delaware limited liability company, and Pershing Square PSUS Holdings, LLC, a Nevada limited liability company (\"PSUS Holdings\", and together with ManagementCo, PS Inc. and PSPG, the \"Reporting Persons\"), each of whom has the same business address as ManagementCo and may be deemed to beneficially own the securities reported on this Form 4 (the \"Subject Securities\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"ManagementCo holds majority voting power over PS Inc.'s shares (including in its capacity as the managing member of PSPG). PS Inc. holds 100% of the interests in PSUS Holdings. ManagementCo, PSPG and PS Inc. may each be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the \"Exchange Act\"). ManagementCo is governed by its members, consisting of William A. Ackman, Ryan Israel, Ben Hakim, Michael Gonnella, Anthony Massaro and Halit Coussin (collectively, the \"ManagementCo Members\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"(Continued from Footnote 2) Mr. Ackman owns 24.9% of the voting interests of ManagementCo, with Mr. Israel, Mr. Hakim, Mr. Gonnella, Mr. Massaro and Ms. Coussin each owning the remainder of the voting interests equally (approximately 15% each), and the approval of a majority of the voting interests is generally required to approve any action of ManagementCo. Each of PS Inc., PSPG, ManagementCo and the ManagementCo Members disclaims beneficial ownership of any Subject Securities, except to the extent of any pecuniary interest therein."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"On April 30, 2026, PS Inc. and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS Inc. common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement (the \"PSUS Private Placement\" and together with the PSUS IPO, the \"combined PSUS offering\") of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\") (collectively, the \"combined transaction\")."}],"balance_after":342320,"source":{"system":"sec-edgar","filing":"0001140361-26-018962","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/2027456/000114036126018962/form4.xml","form_type":"4"}},{"id":794141,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":14574,"kind":"person","name":"Pershing Square Management, LLC","position":1,"cik":"0002027456","reported_name":"Pershing Square Management, LLC","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}},{"id":14573,"kind":"person","name":"Pershing Square Partner Group LLC","position":2,"cik":"0002129159","reported_name":"Pershing Square Partner Group LLC","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}},{"id":3337,"kind":"organization","name":"PERSHING SQUARE INC.","position":3,"cik":"0002026053","reported_name":"PERSHING SQUARE INC.","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}},{"id":50005,"kind":"person","name":"Pershing Square PSUS Holdings, LLC","position":4,"cik":"0002129160","reported_name":"Pershing Square PSUS Holdings, LLC","relationship":{"director":true,"ten_percent_owner":true,"other":true,"other_text":"See Remarks"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-05T01:05:26.000Z","date":"2026-04-30","kind":"grant","planned":false,"acquired":true,"shares":96000000,"price":50,"value":4800000000.0,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F5","text":"Reflects the acquisition of Issuer Common Shares and the immediate resale of such Issuer Common Shares (the \"Resale Shares\") by PS Inc. on April 30, 2026 in connection with the completion of the combined PSUS offering.  Proceeds of the sale of the Resale Shares were immediately delivered to the Issuer and the resale did not result in any proceeds to PS Inc."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F1","text":"In addition to Pershing Square Management, LLC, a Delaware limited liability company (\"ManagementCo\"), this Form 4 is being filed jointly by Pershing Square Inc., a Nevada corporation (\"PS Inc.\"), Pershing Square Partner Group, LLC (\"PSPG\"), a Delaware limited liability company, and Pershing Square PSUS Holdings, LLC, a Nevada limited liability company (\"PSUS Holdings\", and together with ManagementCo, PS Inc. and PSPG, the \"Reporting Persons\"), each of whom has the same business address as ManagementCo and may be deemed to beneficially own the securities reported on this Form 4 (the \"Subject Securities\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F2","text":"ManagementCo holds majority voting power over PS Inc.'s shares (including in its capacity as the managing member of PSPG). PS Inc. holds 100% of the interests in PSUS Holdings. ManagementCo, PSPG and PS Inc. may each be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the \"Exchange Act\"). ManagementCo is governed by its members, consisting of William A. Ackman, Ryan Israel, Ben Hakim, Michael Gonnella, Anthony Massaro and Halit Coussin (collectively, the \"ManagementCo Members\")."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F3","text":"(Continued from Footnote 2) Mr. Ackman owns 24.9% of the voting interests of ManagementCo, with Mr. Israel, Mr. Hakim, Mr. Gonnella, Mr. Massaro and Ms. Coussin each owning the remainder of the voting interests equally (approximately 15% each), and the approval of a majority of the voting interests is generally required to approve any action of ManagementCo. Each of PS Inc., PSPG, ManagementCo and the ManagementCo Members disclaims beneficial ownership of any Subject Securities, except to the extent of any pecuniary interest therein."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F4","text":"On April 30, 2026, PS Inc. and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS Inc. common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement (the \"PSUS Private Placement\" and together with the PSUS IPO, the \"combined PSUS offering\") of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\") (collectively, the \"combined transaction\")."}],"balance_after":96342320,"source":{"system":"sec-edgar","filing":"0001140361-26-018962","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2027456/000114036126018962/form4.xml","form_type":"4"}},{"id":795881,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":50333,"kind":"person","name":"Botta Nicholas Anthony","position":1,"cik":"0002026505","reported_name":"Botta Nicholas Anthony","relationship":{"director":true,"other":true,"other_text":"Trustee"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-01T20:34:45.000Z","date":"2026-04-30","kind":"purchase","planned":false,"acquired":true,"shares":250000,"price":50,"value":12500000.0,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"On April 30, 2026, Pershing Square Inc. (\"PS\") and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\")."},{"field":"kind","element":"transactionCoding","label":"F2","text":"Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS IPO."}],"balance_after":250000,"source":{"system":"sec-edgar","filing":"0001140361-26-018587","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2002660/000114036126018587/form4.xml","form_type":"4"}},{"id":795880,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":50003,"kind":"person","name":"Coussin Halit","position":1,"cik":"0002026110","reported_name":"Coussin Halit","relationship":{"officer":true,"officer_title":"Chief Compliance Officer"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-01T20:30:33.000Z","date":"2026-04-30","kind":"purchase","planned":false,"acquired":true,"shares":200000,"price":50,"value":10000000.0,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"On April 30, 2026, Pershing Square Inc. (\"PS\") and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\")."},{"field":"kind","element":"transactionCoding","label":"F2","text":"Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS IPO."}],"balance_after":200000,"source":{"system":"sec-edgar","filing":"0001140361-26-018583","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2002660/000114036126018583/form4.xml","form_type":"4"}},{"id":795879,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":50001,"kind":"person","name":"Hakim Ben","position":1,"cik":"0001818663","reported_name":"Hakim Ben","relationship":{"officer":true,"officer_title":"President"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-01T20:30:23.000Z","date":"2026-04-30","kind":"purchase","planned":false,"acquired":true,"shares":250000,"price":50,"value":12500000.0,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"On April 30, 2026, Pershing Square Inc. (\"PS\") and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement (the \"PSUS Private Placement\") of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\")."},{"field":"kind","element":"transactionCoding","label":"F3","text":"Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS Private Placement."}],"balance_after":350000,"source":{"system":"sec-edgar","filing":"0001140361-26-018581","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/2002660/000114036126018581/form4.xml","form_type":"4"}},{"id":795878,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":50001,"kind":"person","name":"Hakim Ben","position":1,"cik":"0001818663","reported_name":"Hakim Ben","relationship":{"officer":true,"officer_title":"President"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-01T20:30:23.000Z","date":"2026-04-30","kind":"purchase","planned":false,"acquired":true,"shares":100000,"price":50,"value":5000000.0,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"On April 30, 2026, Pershing Square Inc. (\"PS\") and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement (the \"PSUS Private Placement\") of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\")."},{"field":"kind","element":"transactionCoding","label":"F2","text":"Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS IPO."}],"balance_after":100000,"source":{"system":"sec-edgar","filing":"0001140361-26-018581","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2002660/000114036126018581/form4.xml","form_type":"4"}},{"id":795877,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":50002,"kind":"person","name":"ISRAEL RYAN","position":1,"cik":"0001597463","reported_name":"ISRAEL RYAN","relationship":{"officer":true,"officer_title":"Chief Investment Officer"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-01T20:30:16.000Z","date":"2026-04-30","kind":"purchase","planned":false,"acquired":true,"shares":500000,"price":50,"value":25000000.0,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"On April 30, 2026, Pershing Square Inc. (\"PS\") and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\")."},{"field":"kind","element":"transactionCoding","label":"F2","text":"Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS IPO."}],"balance_after":500000,"source":{"system":"sec-edgar","filing":"0001140361-26-018580","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2002660/000114036126018580/form4.xml","form_type":"4"}},{"id":795876,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":50332,"kind":"person","name":"Falzone Jessica A","position":1,"cik":"0001766617","reported_name":"Falzone Jessica A","relationship":{"officer":true,"officer_title":"Secretary"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-01T20:28:03.000Z","date":"2026-04-30","kind":"purchase","planned":false,"acquired":true,"shares":2000,"price":50,"value":100000.0,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"On April 30, 2026, Pershing Square Inc. (\"PS\") and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS common stock and (ii) an initial public offering and a concurrent private placement (the \"PSUS Private Placement\") of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\")."},{"field":"kind","element":"transactionCoding","label":"F2","text":"Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS Private Placement."}],"balance_after":2000,"source":{"system":"sec-edgar","filing":"0001140361-26-018576","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2002660/000114036126018576/form4.xml","form_type":"4"}},{"id":795875,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":50004,"kind":"person","name":"Gonnella Michael","position":1,"cik":"0001831649","reported_name":"Gonnella Michael","relationship":{"officer":true,"officer_title":"Chief Financial Officer"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-01T20:27:38.000Z","date":"2026-04-30","kind":"purchase","planned":false,"acquired":true,"shares":100000,"price":50,"value":5000000.0,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"On April 30, 2026, Pershing Square Inc. (\"PS\") and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\")."},{"field":"kind","element":"transactionCoding","label":"F2","text":"Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS IPO."}],"balance_after":100000,"source":{"system":"sec-edgar","filing":"0001140361-26-018575","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/2002660/000114036126018575/form4.xml","form_type":"4"}},{"id":310202,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":14277,"kind":"person","name":"ACKMAN WILLIAM A","position":1,"cik":"0001056513","reported_name":"ACKMAN WILLIAM A","relationship":{"officer":true,"officer_title":"Chief Executive Officer"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-01T10:02:40.000Z","date":"2026-04-30","kind":"purchase","planned":false,"acquired":true,"shares":34971,"price":50,"value":1748550.0,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"On April 30, 2026, Pershing Square Inc. (\"PS\") and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement (the \"PSUS Private Placement\") of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\")."},{"field":"kind","element":"transactionCoding","label":"F4","text":"Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS Private Placement."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F6","text":"Reflects Issuer Common Shares held by trusts for the benefit of the Reporting Person's family members."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F7","text":"The Reporting Person may be deemed to be the beneficial owner of these shares for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of any pecuniary interest therein."}],"balance_after":56171,"source":{"system":"sec-edgar","filing":"0001140361-26-018381","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":5,"url":"https://www.sec.gov/Archives/edgar/data/1056513/000114036126018381/form4.xml","form_type":"4"}},{"id":310201,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":14277,"kind":"person","name":"ACKMAN WILLIAM A","position":1,"cik":"0001056513","reported_name":"ACKMAN WILLIAM A","relationship":{"officer":true,"officer_title":"Chief Executive Officer"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-01T10:02:40.000Z","date":"2026-04-30","kind":"purchase","planned":false,"acquired":true,"shares":21200,"price":50,"value":1060000.0,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"On April 30, 2026, Pershing Square Inc. (\"PS\") and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement (the \"PSUS Private Placement\") of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\")."},{"field":"kind","element":"transactionCoding","label":"F2","text":"Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS IPO."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F6","text":"Reflects Issuer Common Shares held by trusts for the benefit of the Reporting Person's family members."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F7","text":"The Reporting Person may be deemed to be the beneficial owner of these shares for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of any pecuniary interest therein."}],"balance_after":21200,"source":{"system":"sec-edgar","filing":"0001140361-26-018381","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":4,"url":"https://www.sec.gov/Archives/edgar/data/1056513/000114036126018381/form4.xml","form_type":"4"}},{"id":310200,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":14277,"kind":"person","name":"ACKMAN WILLIAM A","position":1,"cik":"0001056513","reported_name":"ACKMAN WILLIAM A","relationship":{"officer":true,"officer_title":"Chief Executive Officer"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-01T10:02:40.000Z","date":"2026-04-30","kind":"purchase","planned":false,"acquired":true,"shares":841000,"price":50,"value":42050000.0,"ownership":{"direct":false,"nature":"See footnotes"},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"On April 30, 2026, Pershing Square Inc. (\"PS\") and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement (the \"PSUS Private Placement\") of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\")."},{"field":"kind","element":"transactionCoding","label":"F2","text":"Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS IPO."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F5","text":"Reflects Issuer Common Shares held by a limited liability company that is wholly owned by the Reporting Person's spouse."},{"field":"ownership.nature","element":"natureOfOwnership","label":"F7","text":"The Reporting Person may be deemed to be the beneficial owner of these shares for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of any pecuniary interest therein."}],"balance_after":841000,"source":{"system":"sec-edgar","filing":"0001140361-26-018381","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":3,"url":"https://www.sec.gov/Archives/edgar/data/1056513/000114036126018381/form4.xml","form_type":"4"}},{"id":310199,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":14277,"kind":"person","name":"ACKMAN WILLIAM A","position":1,"cik":"0001056513","reported_name":"ACKMAN WILLIAM A","relationship":{"officer":true,"officer_title":"Chief Executive Officer"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-01T10:02:40.000Z","date":"2026-04-30","kind":"purchase","planned":false,"acquired":true,"shares":500000,"price":42,"value":21000000.0,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F3","text":"Reflects the acquisition of Issuer Common Shares on April 30, 2026 through open market purchase."}],"balance_after":4000000,"source":{"system":"sec-edgar","filing":"0001140361-26-018381","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":2,"url":"https://www.sec.gov/Archives/edgar/data/1056513/000114036126018381/form4.xml","form_type":"4"}},{"id":310198,"issuer":{"id":9114,"kind":"organization","name":"Pershing Square USA, Ltd.","symbol":"PSUS"},"owners":[{"id":14277,"kind":"person","name":"ACKMAN WILLIAM A","position":1,"cik":"0001056513","reported_name":"ACKMAN WILLIAM A","relationship":{"officer":true,"officer_title":"Chief Executive Officer"}}],"security":"Common Shares of Beneficial Interest","published_at":"2026-05-01T10:02:40.000Z","date":"2026-04-30","kind":"purchase","planned":false,"acquired":true,"shares":3500000,"price":50,"value":175000000.0,"ownership":{"direct":true},"footnotes":[{"field":"kind","element":"transactionCoding","label":"F1","text":"On April 30, 2026, Pershing Square Inc. (\"PS\") and the Issuer completed a combined transaction, consisting of (i) an initial public offering and a concurrent private placement of PS common stock and (ii) an initial public offering (the \"PSUS IPO\") and a concurrent private placement (the \"PSUS Private Placement\") of the Issuer's Common Shares of Beneficial Interest (\"Common Shares\")."},{"field":"kind","element":"transactionCoding","label":"F2","text":"Reflects the acquisition of Issuer Common Shares on April 30, 2026 in the PSUS IPO."}],"balance_after":3500000,"source":{"system":"sec-edgar","filing":"0001140361-26-018381","document":"form4.xml","document_sequence":1,"table":"nonDerivative","row_type":"transaction","position":1,"url":"https://www.sec.gov/Archives/edgar/data/1056513/000114036126018381/form4.xml","form_type":"4"}}]}