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 |
Mondelez International
MDLZ
|
+$1.87B |
Top Sells
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 37.25% |
| 2 | Materials | 22.67% |
| 3 | Industrials | 14.35% |
| 4 | Consumer Staples | 13.02% |
| 5 | Consumer Discretionary | 9.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Bausch Health
BHC
$1.65B
| $3.47B | 24.9% |
19,473,933
| – | – |
|
2
Air Products & Chemicals
APD
$66.3B
| $2.62B | 18.79% |
22,213,551
| – | – |
|
3
Canadian Pacific Kansas City
CP
$82B
| $2B | 14.35% |
69,704,450
| – | – |
|
|
4
Mondelez International
MDLZ
$77.7B
| $1.82B | 13.02% |
+43,366,342
| New | +$1.87B |
|
5
Zoetis
ZTS
$31.6B
| $1.72B | 12.35% |
41,823,145
| – | – |
|
6
Restaurant Brands International
QSR
$25.1B
| $1.37B | 9.79% |
38,003,984
| – | – |
|
7
Element Solutions
ESI
$9.12B
| $541M | 3.88% |
42,737,394
| – | – |
|
8
Howard Hughes
HHH
$3.93B
| $409M | 2.93% |
3,742,850
| – | – |
|
Similar funds
Pershing Square Capital Management's Q3 2015 Portfolio in Review
As of Q3 2015, Pershing Square Capital Management held 8 positions worth $14B, down 3.4% from $14.4B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pershing Square Capital Management deployed $1.87B of net new capital in Q3 2015, opening 1 new position. Its largest new stake was Mondelez International: 43,366,342 shares worth $1.82B.
By sector, the portfolio is most concentrated in Healthcare at 37% of assets, down from 44% a quarter earlier, followed by Materials and Industrials.
- Pershing Square Capital Management's largest Q3 2015 buy was Mondelez International: 43,366,342 shares worth $1.82B.
- Pershing Square Capital Management's ten largest holdings make up 100% of its $14B portfolio in Q3 2015.
- Pershing Square Capital Management opened 1 new position and closed 0 in Q3 2015.
- Pershing Square Capital Management's portfolio value fell 3.4% quarter-over-quarter to $14B.
Based on Pershing Square Capital Management's 13F filing for Q3 2015, filed 16 Nov 2015.