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 |
RTX Corp
RTX
|
+$255M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nike
NKE
|
+$365M |
| 2 |
Howard Hughes
HHH
|
+$322M |
| 3 |
Mondelez International
MDLZ
|
+$308M |
| 4 |
Restaurant Brands International
QSR
|
+$129M |
| 5 |
Automatic Data Processing
ADP
|
+$99.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 47.92% |
| 2 | Technology | 18.65% |
| 3 | Consumer Staples | 13.95% |
| 4 | Materials | 8.06% |
| 5 | Real Estate | 6.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Restaurant Brands International
QSR
$25.1B
| $1.38B | 28.65% |
24,320,295
-2,180,434
| -8% | -$129M |
|
2
Chipotle Mexican Grill
CMG
$40.8B
| $931M | 19.27% |
144,123,150
| – | – |
|
|
3
Automatic Data Processing
ADP
$100B
| $901M | 18.65% |
7,941,957
-856,485
| -10% | -$99.9M |
|
|
4
Mondelez International
MDLZ
$77.7B
| $674M | 13.95% |
16,156,591
-7,099,811
| -31% | -$308M |
|
5
Element Solutions
ESI
$9.12B
| $390M | 8.06% |
40,451,506
| – | – |
|
|
6
Howard Hughes
HHH
$3.93B
| $307M | 6.35% |
2,312,556
-2,622,500
| -53% | -$322M |
|
|
7
RTX Corp
RTX
$287B
| $245M | 5.06% |
+3,089,683
| New | +$255M |
|
|
8
Nike
NKE
$61.9B
| – | – |
-5,836,020
| Closed | -$365M |
|
Similar funds
Pershing Square Capital Management's Q1 2018 Portfolio in Review
As of Q1 2018, Pershing Square Capital Management held 8 positions worth $4.83B, down 18% from $5.87B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pershing Square Capital Management withdrew a net $969M in Q1 2018, closing 1 position and reducing 4 holdings. Its most notable exit was Nike, an estimated $365M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 48% of assets, down from 48% a quarter earlier, followed by Technology and Consumer Staples.
Against the trend, Pershing Square Capital Management opened a new position in RTX Corp worth $245M.
- Pershing Square Capital Management's largest Q1 2018 buy was RTX Corp: 3,089,683 shares worth $245M.
- Pershing Square Capital Management's biggest Q1 2018 reduction was Howard Hughes, cutting an estimated $322M.
- Pershing Square Capital Management fully exited Nike in Q1 2018, selling an estimated $365M.
- Pershing Square Capital Management's ten largest holdings make up 100% of its $4.83B portfolio in Q1 2018.
- Pershing Square Capital Management opened 1 new position and closed 1 in Q1 2018.
- Pershing Square Capital Management's portfolio value fell 18% quarter-over-quarter to $4.83B.
Based on Pershing Square Capital Management's 13F filing for Q1 2018, filed 15 May 2018.