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 |
AGN
Allergan Inc
AGN
|
+$4.4B |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BEAM
BEAM INC COM STK (DE)
BEAM
|
+$972M |
| 2 |
Canadian Pacific Kansas City
CP
|
+$528M |
| 3 |
AIV
Aimco
AIV
|
+$113M |
| 4 |
HME
HOME PROPERTIES, INC
HME
|
+$28.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 38.79% |
| 2 | Materials | 28.4% |
| 3 | Industrials | 20.04% |
| 4 | Consumer Discretionary | 8.29% |
| 5 | Real Estate | 4.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AGN
1
DELISTED
Allergan Inc
AGN
| $4.89B | 38.79% |
28,878,538
+28,281,107
| +4,734% | +$4.4B |
|
2
Air Products & Chemicals
APD
$66.3B
| $2.64B | 20.98% |
22,213,551
| – | – |
|
|
3
Canadian Pacific Kansas City
CP
$82B
| $2.52B | 20.04% |
69,691,510
-16,107,930
| -19% | -$528M |
|
|
BKW
4
DELISTED
BURGER KING WORLDWIDE
BKW
| $1.04B | 8.3% |
38,387,865
| – | – |
|
5
Element Solutions
ESI
$9.12B
| $934M | 7.42% |
33,333,330
| – | – |
|
6
Howard Hughes
HHH
$3.93B
| $563M | 4.47% |
3,742,850
| – | – |
|
|
AIV
7
Aimco
AIV
$380M
| – | – |
-28,145,959
| Closed | -$113M |
|
|
HME
8
DELISTED
HOME PROPERTIES, INC
HME
| – | – |
-473,778
| Closed | -$28.5M |
|
|
BEAM
9
DELISTED
BEAM INC COM STK (DE)
BEAM
| – | – |
-11,668,545
| Closed | -$972M |
|
Similar funds
Pershing Square Capital Management's Q2 2014 Portfolio in Review
As of Q2 2014, Pershing Square Capital Management held 9 positions worth $12.6B, up 50% from $8.38B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pershing Square Capital Management deployed $2.76B of net new capital in Q2 2014, adding to 1 existing holding.
By sector, the portfolio is most concentrated in Healthcare at 39% of assets, up from 0.88% a quarter earlier, followed by Materials and Industrials.
On the sell side, the largest reduction was Canadian Pacific Kansas City, an estimated $528M trimmed.
- Pershing Square Capital Management added most to Allergan Inc in Q2 2014, an estimated $4.4B increase.
- Pershing Square Capital Management's biggest Q2 2014 reduction was Canadian Pacific Kansas City, cutting an estimated $528M.
- Pershing Square Capital Management fully exited BEAM INC COM STK (DE) in Q2 2014, selling an estimated $972M.
- Pershing Square Capital Management's ten largest holdings make up 100% of its $12.6B portfolio in Q2 2014.
- Pershing Square Capital Management opened 0 new positions and closed 3 in Q2 2014.
- Pershing Square Capital Management's portfolio value rose 50% quarter-over-quarter to $12.6B.
Based on Pershing Square Capital Management's 13F filing for Q2 2014, filed 14 Aug 2014.