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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
+9.91%
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
$8.38B
AUM Growth
+$148M
Cap. Flow
-$547M
Cap. Flow %
-6.52%
Top 10 Hldgs %
100%
Holding
11
New
4
Increased
–
Reduced
1
Closed
2

Top Buys

Rank Stock Value
1
ESI icon
Element Solutions
ESI
+$604M
2
AIV
Aimco
AIV
+$108M
3
AGN
Allergan Inc
AGN
+$72.7M
4
HME
HOME PROPERTIES, INC
HME
+$27.4M

Top Sells

Rank Stock Value
1
BEAM
BEAM INC COM STK (DE)
BEAM
+$744M
2
GGP
GGP Inc.
GGP
+$554M
3
PG icon
Procter & Gamble
PG
+$60.2M

Sector Composition

Rank Sector Weight
1 Materials 36.77%
2 Industrials 30.81%
3 Consumer Discretionary 12.16%
4 Consumer Staples 11.6%
5 Real Estate 7.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CP icon
1
Canadian Pacific Kansas City
CP
$82B
$2.58B 30.81%
85,799,440
– –
APD icon
2
Air Products & Chemicals
APD
$66.3B
$2.45B 29.19%
22,213,551
– –
BKW
3
DELISTED
BURGER KING WORLDWIDE
BKW
$1.02B 12.16%
38,387,865
– –
BEAM
4
DELISTED
BEAM INC COM STK (DE)
BEAM
$972M 11.6%
11,668,545
-9,150,000
-44% -$744M
ESI icon
5
Element Solutions
ESI
$9.12B
$635M 7.58%
+33,333,330
New +$604M
HHH icon
6
Howard Hughes
HHH
$3.93B
$509M 6.08%
3,742,850
– –
AIV
7
Aimco
AIV
$380M
$113M 1.35%
+28,145,959
New +$108M
AGN
8
DELISTED
Allergan Inc
AGN
$74.1M 0.88%
+597,431
New +$72.7M
HME
9
DELISTED
HOME PROPERTIES, INC
HME
$28.5M 0.34%
+473,778
New +$27.4M
PG icon
10
Procter & Gamble
PG
$343B
– –
-739,605
Closed -$60.2M
GGP
11
DELISTED
GGP Inc.
GGP
– –
-27,624,282
Closed -$554M

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Pershing Square Capital Management's Q1 2014 Portfolio in Review

As of Q1 2014, Pershing Square Capital Management held 11 positions worth $8.38B, up 1.8% from $8.23B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Pershing Square Capital Management withdrew a net $547M in Q1 2014, closing 2 positions and reducing 1 holding. Its most notable exit was GGP Inc., an estimated $554M position sold in full.

By sector, the portfolio is most concentrated in Materials at 37% of assets, up from 28% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Pershing Square Capital Management opened a new position in Element Solutions worth $635M.

  • Pershing Square Capital Management's largest Q1 2014 buy was Element Solutions: 33,333,330 shares worth $635M.
  • Pershing Square Capital Management's biggest Q1 2014 reduction was BEAM INC COM STK (DE), cutting an estimated $744M.
  • Pershing Square Capital Management fully exited GGP Inc. in Q1 2014, selling an estimated $554M.
  • Pershing Square Capital Management's ten largest holdings make up 100% of its $8.38B portfolio in Q1 2014.
  • Pershing Square Capital Management opened 4 new positions and closed 2 in Q1 2014.
  • Pershing Square Capital Management's portfolio value rose 1.8% quarter-over-quarter to $8.38B.

Based on Pershing Square Capital Management's 13F filing for Q1 2014, filed 15 May 2014.