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
|
+$392M |
| 2 |
Nike
NKE
|
+$336M |
Top Sells
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 48.14% |
| 2 | Technology | 17.56% |
| 3 | Consumer Staples | 16.95% |
| 4 | Real Estate | 10.52% |
| 5 | Materials | 6.83% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Restaurant Brands International
QSR
$25.1B
| $1.63B | 27.74% |
26,500,729
| – | – |
|
2
Automatic Data Processing
ADP
$100B
| $1.03B | 17.56% |
8,798,442
| – | – |
|
|
3
Mondelez International
MDLZ
$77.7B
| $995M | 16.95% |
23,256,402
+9,328,957
| +67% | +$392M |
|
4
Chipotle Mexican Grill
CMG
$40.8B
| $833M | 14.19% |
144,123,150
| – | – |
|
5
Howard Hughes
HHH
$3.93B
| $618M | 10.52% |
4,935,056
| – | – |
|
6
Element Solutions
ESI
$9.12B
| $401M | 6.83% |
40,451,506
| – | – |
|
|
7
Nike
NKE
$61.9B
| $365M | 6.22% |
+5,836,020
| New | +$336M |
|
Similar funds
Pershing Square Capital Management's Q4 2017 Portfolio in Review
As of Q4 2017, Pershing Square Capital Management held 7 positions worth $5.87B, up 15% from $5.11B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pershing Square Capital Management deployed $727M of net new capital in Q4 2017, opening 1 new position and adding to 1 existing holding. Its largest new stake was Nike: 5,836,020 shares worth $365M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 48% of assets, down from 50% a quarter earlier, followed by Technology and Consumer Staples.
- Pershing Square Capital Management's largest Q4 2017 buy was Nike: 5,836,020 shares worth $365M.
- Pershing Square Capital Management added most to Mondelez International in Q4 2017, an estimated $392M increase.
- Pershing Square Capital Management's ten largest holdings make up 100% of its $5.87B portfolio in Q4 2017.
- Pershing Square Capital Management opened 1 new position and closed 0 in Q4 2017.
- Pershing Square Capital Management's portfolio value rose 15% quarter-over-quarter to $5.87B.
Based on Pershing Square Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.