Pershing Square Capital Management Portfolio holdings
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Air Products & Chemicals
APD
|
+$413K |
| 2 |
BKW
BURGER KING WORLDWIDE
BKW
|
+$325K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Canadian Pacific Kansas City
CP
|
+$859M |
| 2 |
GGP
GGP Inc.
GGP
|
+$166M |
| 3 |
Procter & Gamble
PG
|
+$113M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 31.55% |
| 2 | Materials | 27.91% |
| 3 | Consumer Staples | 17.95% |
| 4 | Real Estate | 11.94% |
| 5 | Consumer Discretionary | 10.66% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Canadian Pacific Kansas City
CP
$82B
| $2.6B | 31.55% |
85,799,440
-29,826,520
| -26% | -$859M |
|
|
2
Air Products & Chemicals
APD
$66.3B
| $2.3B | 27.91% |
22,213,551
+4,099
| +0% | +$413K |
|
|
BEAM
3
DELISTED
BEAM INC COM STK (DE)
BEAM
| $1.42B | 17.21% |
20,818,545
| – | – |
|
|
BKW
4
DELISTED
BURGER KING WORLDWIDE
BKW
| $878M | 10.66% |
38,387,865
+15,745
| +0% | +$325K |
|
|
GGP
5
DELISTED
GGP Inc.
GGP
| $554M | 6.74% |
27,624,282
-8,056,900
| -23% | -$166M |
|
6
Howard Hughes
HHH
$3.93B
| $429M | 5.21% |
3,742,850
| – | – |
|
|
7
Procter & Gamble
PG
$343B
| $60.2M | 0.73% |
739,605
-1,384,288
| -65% | -$113M |
|
|
8
CALL
Procter & Gamble
PG
$343B
| – | – |
-25,000,000
| Closed | -$1.89B |
|
Similar funds
Pershing Square Capital Management's Q4 2013 Portfolio in Review
As of Q4 2013, Pershing Square Capital Management held 8 positions worth $8.23B, down 20% from $10.3B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pershing Square Capital Management withdrew a net $3.03B in Q4 2013, closing 1 position and reducing 3 holdings. Its largest reduction was Canadian Pacific Kansas City, cutting an estimated $859M.
By sector, the portfolio is most concentrated in Industrials at 32% of assets, up from 28% a quarter earlier, followed by Materials and Consumer Staples.
Against the trend, Pershing Square Capital Management added an estimated $413K to Air Products & Chemicals.
- Pershing Square Capital Management added most to Air Products & Chemicals in Q4 2013, an estimated $413K increase.
- Pershing Square Capital Management's biggest Q4 2013 reduction was Canadian Pacific Kansas City, cutting an estimated $859M.
- Pershing Square Capital Management's ten largest holdings make up 100% of its $8.23B portfolio in Q4 2013.
- Pershing Square Capital Management opened 0 new positions and closed 1 in Q4 2013.
- Pershing Square Capital Management's portfolio value fell 20% quarter-over-quarter to $8.23B.
Based on Pershing Square Capital Management's 13F filing for Q4 2013, filed 14 Feb 2014.