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<h2>Key Points</h2><ul><li>Director Bruce Herring bought 10,000 common stock shares for a transaction value of ~$434,000 on May 4, 2026.</li><li>Post-transaction, direct ownership represents 0.025% of shares outstanding.</li><li>The purchase was made directly, with no indirect or derivative involvement; all shares are held in the direct account.</li><li>Herring retains 10,000 shares (direct) following the transaction.</li><li>10 stocks we like better than Pershing Square USA ›</li></ul><p>Bruce Herring, Director of <strong>Pershing Square USA, Ltd.</strong> <span class="ticker">(NYSE:PSUS)</span>, reported an open-market purchase of 10,000 shares of common stock, valued at approximately $434,000, according to the SEC Form 4 filing.</p><h2 id="transaction-summary">Transaction summary</h2><section><table><tbody><tr><th>Metric</th><th>Value</th></tr><tr><td>Shares traded</td><td>10,000</td></tr><tr><td>Transaction value</td><td>~$434,000</td></tr><tr><td>Post-transaction shares (direct)</td><td>10,000</td></tr><tr><td>Post-transaction value (direct ownership)</td><td>~$425,000</td></tr></tbody></table></section><p>Transaction value based on SEC Form 4 weighted average purchase price ($43.41); post-transaction value based on May 4, 2026 market close ($42.51).</p><h2 id="key-questions">Key questions</h2><ul><li><strong>How does this purchase impact Bruce Herring's ownership position in Pershing Square USA, Ltd.?</strong><br/>The transaction establishes a new direct holding of 10,000 shares of common stock, giving Herring an immediate post-transaction ownership stake of 0.025% in the company as of May 4, 2026.</li><li><strong>What is the structure of the acquired shares—are there indirect or derivative components?</strong><br/>All 10,000 shares were acquired and are held directly, with no involvement of trusts, family entities, or derivative instruments in this transaction.</li><li><strong>Are there other share classes or convertible holdings that could affect the insider's stake?</strong><br/>Herring retains direct holdings of 10,000 Common Shares of Beneficial Interest, which can be converted to Common Stock, supporting ongoing alignment with equity holders beyond the reported share class.</li></ul><h2 id="overview">Overview</h2><section><table><tbody><tr><th>Metric</th><th>Value</th></tr><tr><td>Price (as of market close 5/4/26)</td><td>$42.51</td></tr><tr><td>Exchange</td><td>NYSE</td></tr><tr><td>Ticker</td><td>PSUS</td></tr></tbody></table></section><h2 id="snapshot">Snapshot</h2><p>Pershing Square USA, Ltd. is publicly listed on the NYSE under the ticker PSUS. The company is structured as an investment vehicle, providing access to a diversified portfolio managed by experienced professionals.</p><h2 id="what-this-transaction-means-for-investors">What this transaction means for investors</h2><p>Pershing Square USA is headed by Pershing Square Capital Management founder Bill Ackman, and is his debut into the public markets, having gone public via an initial public offering (IPO) at the end of April. PSUS is a closed-end fund that trades on the New York Stock Exchange, and can be traded like a stock. With no performance fees or redemptions, the fund is meant to appeal to both retail and institutional investors. </p><p>PSUS closed at $40.90 on the day of its market debut, well below its IPO price of $50. However, if you like Ackman and believe in his investing record, PSUS is likely a buy. It’s a highly liquid way to play Ackman’s investing track record and strategy, and investors will benefit from the portfolio appreciation as well as the fees generated via asset manager Pershing Square Inc. Because of its structure and connection to investing royalty, many on Wall Street are likening PSUS to Warren Buffett’s <strong>Berkshire Hathaway</strong>, which itself has delivered monster returns for long-term buy-and-hold investors.</p><h2>Should you buy stock in Pershing Square USA right now?</h2>
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<p style="color: #767676; text-align: left"><em>*Stock Advisor returns as of May 7, 2026. </em></p><p><em>Sarah Sidlow has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.</em></p>
<p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p>
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PSUS

<p>Director Bruce Herring of Pershing Square USA, Ltd. (NYSE:PSUS) purchased 10,000 shares of common stock for approximately $434,000 on May 4, 2026. This transaction gives him a direct ownership stake of 0.025% in the company. The shares were acquired directly, with no indirect or derivative involvement. Following the transaction, Herring retains 10,000 shares. Pershing Square USA, led by Bill Ackman, is a closed-end fund that debuted on the NYSE, appealing to both retail and institutional investors despite its initial trading below IPO price.</p>

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Bill Ackman's Pershing Square USA Is Now Public, and This Director Just Bought 10,000 Shares