# EDGAR Filing Document

**Accession Number:** 0001336528
**File Stem:** 0001438934-25-001297
**Filing Date:** 2025-8
**Character Count:** 6701
**Document Hash:** f428d8b14c79d622d9b8ad1383f242d4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001438934-25-001297.hdr.sgml**: 20250821

**ACCESSION NUMBER**: 0001438934-25-001297

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250821

**EFFECTIVENESS DATE**: 20250821

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pershing Square Capital Management, L.P.
- **CENTRAL INDEX KEY:** 0001336528

**ORGANIZATION NAME:**
- **EIN:** 383694136
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11694
- **FILM NUMBER:** 251239982

**BUSINESS ADDRESS:**
- **STREET 1:** 787 11TH AVENUE
- **STREET 2:** 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-813-3700

**MAIL ADDRESS:**
- **STREET 1:** 787 11TH AVENUE
- **STREET 2:** 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001336528

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Pershing Square Capital Management, L.P.

**Address:** 787 Eleventh Avenue, New York, NY 10019

**Telephone number:** 2128133700

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-11694

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** G67KJ524WPCAX4V2X190

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                       | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                           | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| BROOKFIELD CORPORATION               | 11271J107 | 06/06/2025     | Say on Pay Resolution The Say on Pay Resolution set out in the Circular.                                                   | SECTION 14A SAY-ON-PAY VOTES |       41160397 |                0 | FOR         |                                 41160397 | FOR                         |  |
| CANADIAN PACIFIC KANSAS CITY LIMITED | 13646K108 | 04/30/2025     | Advisory vote to approve the Corporation's approach to executive compensation as described in the Proxy Circular.          | SECTION 14A SAY-ON-PAY VOTES |       14799796 |                0 | FOR         |                                 14799796 | FOR                         |  |
| CHIPOTLE MEXICAN GRILL, INC.         | 169656105 | 06/11/2025     | An advisory vote to approve the compensation of our executive officers as disclosed in the proxy statement ("say on pay"). | SECTION 14A SAY-ON-PAY VOTES |       21541177 |                0 | FOR         |                                 21541177 | FOR                         |  |
| HERTZ GLOBAL HOLDINGS, INC.          | 42806J700 | 05/21/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                       | SECTION 14A SAY-ON-PAY VOTES |       15000000 |                0 | FOR         |                                 15000000 | FOR                         |  |
| HILTON WORLDWIDE HOLDINGS INC.       | 43300A203 | 05/14/2025     | Approval, in a non-binding advisory vote, of the compensation paid to the Company's named executive officers.              | SECTION 14A SAY-ON-PAY VOTES |        3000770 |                0 | FOR         |                                  3000770 | FOR                         |  |
| NIKE, INC.                           | 654106103 | 09/10/2024     | To approve executive compensation by an advisory vote.                                                                     | SECTION 14A SAY-ON-PAY VOTES |        3040132 |                0 | AGAINST     |                                  3040132 | AGAINST                     |  |
| RESTAURANT BRANDS INTERNATIONAL INC. | 76131D103 | 06/03/2025     | Say-On-Pay - Approval, on a non-binding advisory basis, of the compensation paid to named executive officers.              | SECTION 14A SAY-ON-PAY VOTES |       23000914 |                0 | FOR         |                                 23000914 | FOR                         |  |
| RESTAURANT BRANDS INTERNATIONAL INC. | 76090H103 | 06/03/2025     | Say-On-Pay: Approval, on a non-binding advisory basis, of the compensation paid to named executive officers.               | SECTION 14A SAY-ON-PAY VOTES |         381005 |                0 | FOR         |                                   381005 | FOR                         |  |
| UBER TECHNOLOGIES, INC.              | 90353T100 | 05/05/2025     | Advisory vote to approve 2024 named executive officer compensation.                                                        | SECTION 14A SAY-ON-PAY VOTES |       30301161 |                0 | FOR         |                                 30301161 | FOR                         |  |
| UNIVERSAL MUSIC GROUP N.V.           | N90313102 | 05/14/2025     | ADVISORY VOTE ON THE REMUNERATION REPORT 2024                                                                              | SECTION 14A SAY-ON-PAY VOTES |       83348648 |                0 | FOR         |                                 83348648 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Pershing Square Capital Management, L.P.

**By (Signature):** William A. Ackman

**By (Printed Signature):** William A. Ackman

**By (Title):** Chief Executive Officer

**Date:** 08/21/2025