<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0202</schemaVersion>
<headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0000796848</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Shares of Beneficial Interest</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>04/30/2026</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0002002660</issuerCik>
        <issuerName>Pershing Square USA, Ltd.</issuerName>
        <issuerCusips>
          <issuerCusipNumber>71531T105</issuerCusipNumber>
        </issuerCusips>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>787 ELEVENTH AVENUE</com:street1>
          <com:street2>9TH FLOOR</com:street2>
          <com:city>NEW YORK</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10019</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>TEACHER RETIREMENT SYSTEM OF TEXAS</reportingPersonName>
      <citizenshipOrOrganization>TX</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>10270000.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>10270000.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>10270000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>10.3</classPercent>
      <typeOfReportingPerson>EP</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Pershing Square USA, Ltd.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>787 ELEVENTH AVENUE, 9TH FLOOR, NEW YORK, NEW YORK, 10019</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Teacher Retirement System of Texas</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>4655 Mueller Blvd., Austin, TX 78723</principalBusinessOfficeOrResidenceAddress>
        <citizenship>United States of America</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>EP</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>10,270,000 shares</amountBeneficiallyOwned>
        <classPercent>10.3%</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>10,270,000</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>10,270,000</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
        <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under &amp;#167; 240.14a-11.

</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>TEACHER RETIREMENT SYSTEM OF TEXAS</reportingPersonName>
      <signatureDetails>
        <signature>Christopher Bowlin</signature>
        <title>Director, DCR-Investments</title>
        <date>05/06/2026</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
