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 |
Bausch Health
BHC
|
+$370M |
| 2 |
Nomad Foods
NOMD
|
+$281M |
| 3 |
Restaurant Brands International
QSR
|
+$39.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Air Products & Chemicals
APD
|
+$1.69B |
| 2 |
Mondelez International
MDLZ
|
+$832M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 27.36% |
| 2 | Industrials | 20.89% |
| 3 | Consumer Discretionary | 17.17% |
| 4 | Materials | 16.52% |
| 5 | Consumer Staples | 13.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Zoetis
ZTS
$31.6B
| $1.85B | 20.94% |
41,823,145
| – | – |
|
2
Canadian Pacific Kansas City
CP
$82B
| $1.85B | 20.89% |
69,704,450
| – | – |
|
|
3
Restaurant Brands International
QSR
$25.1B
| $1.52B | 17.17% |
39,150,551
+1,146,567
| +3% | +$39.9M |
|
|
4
Air Products & Chemicals
APD
$66.3B
| $1.09B | 12.37% |
8,216,832
-13,996,719
| -63% | -$1.69B |
|
|
5
Mondelez International
MDLZ
$77.7B
| $920M | 10.4% |
22,942,225
-20,424,117
| -47% | -$832M |
|
|
6
Bausch Health
BHC
$1.65B
| $568M | 6.41% |
21,591,122
+5,000,000
| +30% | +$370M |
|
7
Howard Hughes
HHH
$3.93B
| $378M | 4.27% |
3,742,850
| – | – |
|
8
Element Solutions
ESI
$9.12B
| $368M | 4.15% |
42,737,394
| – | – |
|
|
9
Nomad Foods
NOMD
$1.64B
| $300M | 3.39% |
+33,333,334
| New | +$281M |
|
Similar funds
Pershing Square Capital Management's Q1 2016 Portfolio in Review
As of Q1 2016, Pershing Square Capital Management held 9 positions worth $8.85B, down 29% from $12.5B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pershing Square Capital Management withdrew a net $1.83B in Q1 2016, reducing 2 holdings. Its largest reduction was Air Products & Chemicals, cutting an estimated $1.69B.
By sector, the portfolio is most concentrated in Healthcare at 27% of assets, down from 30% a quarter earlier, followed by Industrials and Consumer Discretionary.
Against the trend, Pershing Square Capital Management opened a new position in Nomad Foods worth $300M.
- Pershing Square Capital Management's largest Q1 2016 buy was Nomad Foods: 33,333,334 shares worth $300M.
- Pershing Square Capital Management added most to Bausch Health in Q1 2016, an estimated $370M increase.
- Pershing Square Capital Management's biggest Q1 2016 reduction was Air Products & Chemicals, cutting an estimated $1.69B.
- Pershing Square Capital Management's ten largest holdings make up 100% of its $8.85B portfolio in Q1 2016.
- Pershing Square Capital Management opened 1 new position and closed 0 in Q1 2016.
- Pershing Square Capital Management's portfolio value fell 29% quarter-over-quarter to $8.85B.
Based on Pershing Square Capital Management's 13F filing for Q1 2016, filed 16 May 2016.