PERSHING SQUARE CAPITAL MANAGEMENT, L.P.
Compensation Model
Compensation type disclosed on SEC Form ADV Item 5C. Filed 46111. Specific fee percentages are available in this firm's Form ADV Part 2A brochure at adviserinfo.sec.gov.
Conflict of Interest Analysis
Broker-Dealer Affiliated: No
No broker-dealer affiliation. Lower risk of commission-driven advice.
Insurance Licensed: No
Not insurance licensed. Cannot sell you annuity or insurance products directly.
Custody of Client Assets: Yes
This firm has direct custody of client assets, rather than using an independent custodian. This is a higher-risk arrangement that requires additional regulatory safeguards.
Proprietary Products: No
Uses only third-party investment products. No proprietary product conflicts.
Regulatory & Disciplinary History
Clean Record
No disciplinary events, regulatory actions, or customer complaints on file with the SEC or FINRA. This firm has maintained a spotless regulatory record for 22 years.
Firm Details
| Legal Name | PERSHING SQUARE CAPITAL MANAGEMENT, L.P. |
| CRD Number | #132982 |
| SEC Registered | Yes |
| Registration Date | 2004-12-02 |
| States Registered | NY |
| Assets Under Management | $19.8B |
| Number of Clients | 11 |
| Employees | 46 |
| Compensation Type | fee-only |
| Last ADV Filing | 46111 |
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Frequently Asked Questions
Is PERSHING SQUARE CAPITAL MANAGEMENT, L.P. a fiduciary?
Yes. PERSHING SQUARE CAPITAL MANAGEMENT, L.P. is a registered investment adviser (RIA) with the SEC, which means they are legally required to act as a fiduciary — putting your interests ahead of their own.
How does PERSHING SQUARE CAPITAL MANAGEMENT, L.P. charge clients?
PERSHING SQUARE CAPITAL MANAGEMENT, L.P. uses a fee-only compensation model. Full fee details are in their Form ADV Part 2A brochure at adviserinfo.sec.gov.
Does PERSHING SQUARE CAPITAL MANAGEMENT, L.P. have any complaints?
No. PERSHING SQUARE CAPITAL MANAGEMENT, L.P. has zero complaints or disciplinary actions on file with the SEC or FINRA across 22 years of operation.
How does PERSHING SQUARE CAPITAL MANAGEMENT, L.P. compare to other advisors in NEW YORK?
PERSHING SQUARE CAPITAL MANAGEMENT, L.P. has a Red Flag Score of 95/100. There are 1970 registered advisory firms in NEW YORK. Use our city page to compare firms side by side.
Where does this data come from?
All information is sourced from SEC Form ADV public filings (mandatory regulatory disclosures) and FINRA BrokerCheck records. Last updated: 2026-06-24. We do not accept payment from financial advisors.
Data source: SEC Form ADV (Parts 1 and 2A) filed with the Investment Adviser Registration Depository (IARD). Filing date: 46111. Last data refresh: 2026-06-24. AdvisorRanked does not verify the accuracy of SEC filings. This is not financial advice.