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PSCM

Pershing Square Capital Management Portfolio holdings

AUM $13.7B
1-Year Est. Return 13.45%
 

Pershing Square Capital Management, L.P., founded in 2004 by Bill Ackman and headquartered in New York City, is a prominent American hedge fund known for its concentrated, activist investment approach, managing over $18 billion in assets as of recent years. Starting with $54 million from Ackman’s personal funds and a seed investment from Leucadia National, the firm focuses on acquiring significant stakes in a small portfolio of large-cap North American companies, often pushing for operational and governance changes to unlock shareholder value, as seen in high-profile campaigns targeting Wendy’s, McDonald’s, and Herbalife. In 2014, Ackman launched Pershing Square Holdings, a closed-end fund listed on Euronext Amsterdam and the London Stock Exchange, raising $3 billion in its IPO, providing a permanent capital base to support its long-term strategies. Renowned for bold moves—like a $2.6 billion profit betting on a market crash in 2020—and a research-intensive, value-driven philosophy, Pershing Square has solidified its reputation as a formidable player in the investment world under Ackman’s leadership.

This Fund
S&P 500
This Quarter Est. Return
+4.94%
1 Year Est. Return
+13.45%
3 Year Est. Return
+64.66%
5 Year Est. Return
+90.44%
10 Year Est. Return
+446.13%
AUM
$10.3B
AUM Growth
-$677M
Cap. Flow
-$916M
Cap. Flow %
-8.91%
Top 10 Hldgs %
100%
Holding
10
New
–
Increased
1
Reduced
3
Closed
2

Top Buys

Rank Stock Value
1
APD icon
Air Products & Chemicals
APD
+$1.07B

Top Sells

Rank Stock Value
1
JCP
J.C. Penney Company, Inc.
JCP
+$667M
2
GGP
GGP Inc.
GGP
+$647M
3
PG icon
Procter & Gamble
PG
+$542M
4
CP icon
Canadian Pacific Kansas City
CP
+$128M
5
MATX icon
Matsons
MATX
+$5.07M

Sector Composition

Rank Sector Weight
1 Industrials 27.75%
2 Materials 21.31%
3 Consumer Staples 14.66%
4 Real Estate 10.6%
5 Consumer Discretionary 7.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CP icon
1
Canadian Pacific Kansas City
CP
$82B
$2.85B 27.75%
115,625,960
-5,173,480
-4% -$128M
APD icon
2
Air Products & Chemicals
APD
$66.3B
$2.19B 21.31%
22,209,452
+11,295,992
+104% +$1.07B
PG icon
3
CALL
Procter & Gamble
PG
$343B
$1.89B 18.39%
25,000,000
– –
BEAM
4
DELISTED
BEAM INC COM STK (DE)
BEAM
$1.35B 13.1%
20,818,545
– –
BKW
5
DELISTED
BURGER KING WORLDWIDE
BKW
$749M 7.29%
38,372,120
– –
GGP
6
DELISTED
GGP Inc.
GGP
$688M 6.7%
35,681,182
-32,107,975
-47% -$647M
HHH icon
7
Howard Hughes
HHH
$3.93B
$401M 3.9%
3,742,850
– –
PG icon
8
Procter & Gamble
PG
$343B
$161M 1.56%
2,123,893
-6,816,240
-76% -$542M
MATX icon
9
Matsons
MATX
$6.37B
– –
-202,913
Closed -$5.07M
JCP
10
DELISTED
J.C. Penney Company, Inc.
JCP
– –
-39,075,771
Closed -$667M

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Pershing Square Capital Management's Q3 2013 Portfolio in Review

As of Q3 2013, Pershing Square Capital Management held 10 positions worth $10.3B, down 6.2% from $11B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Pershing Square Capital Management withdrew a net $916M in Q3 2013, closing 2 positions and reducing 3 holdings. Its most notable exit was J.C. Penney Company, Inc., an estimated $667M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 28% of assets, up from 27% a quarter earlier, followed by Materials and Consumer Staples.

Against the trend, Pershing Square Capital Management added an estimated $1.07B to Air Products & Chemicals.

  • Pershing Square Capital Management added most to Air Products & Chemicals in Q3 2013, an estimated $1.07B increase.
  • Pershing Square Capital Management's biggest Q3 2013 reduction was GGP Inc., cutting an estimated $647M.
  • Pershing Square Capital Management fully exited J.C. Penney Company, Inc. in Q3 2013, selling an estimated $667M.
  • Pershing Square Capital Management's ten largest holdings make up 100% of its $10.3B portfolio in Q3 2013.
  • Pershing Square Capital Management opened 0 new positions and closed 2 in Q3 2013.
  • Pershing Square Capital Management's portfolio value fell 6.2% quarter-over-quarter to $10.3B.

Based on Pershing Square Capital Management's 13F filing for Q3 2013, filed 14 Nov 2013.