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PSCM

Pershing Square Capital Management Portfolio holdings

AUM $13.7B
1-Year Est. Return 13.45%
 

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.

This Fund
S&P 500
This Quarter Est. Return
-10.58%
1 Year Est. Return
+13.45%
3 Year Est. Return
+64.66%
5 Year Est. Return
+90.44%
10 Year Est. Return
+446.13%
AUM
$5.96B
AUM Growth
+$749M
Cap. Flow
+$1.5B
Cap. Flow %
25.19%
Top 10 Hldgs %
100%
Holding
9
New
2
Increased
3
Reduced
3
Closed
–

Top Buys

Rank Stock Value
1
HLT icon
Hilton Worldwide
HLT
+$791M
2
SBUX icon
Starbucks
SBUX
+$736M
3
LOW icon
Lowe's Companies
LOW
+$106M
4
RTX icon
RTX Corp
RTX
+$78.6M
5
ADP icon
Automatic Data Processing
ADP
+$5.75M

Top Sells

Rank Stock Value
1
HHH icon
Howard Hughes
HHH
+$98.2M
2
QSR icon
Restaurant Brands International
QSR
+$64.3M
3
CMG icon
Chipotle Mexican Grill
CMG
+$53.5M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 72.04%
2 Industrials 9.97%
3 Technology 8.96%
4 Materials 7.01%
5 Real Estate 2.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
QSR icon
1
Restaurant Brands International
QSR
$25.1B
$1.03B 17.28%
19,685,602
-1,158,317
-6% -$64.3M
LOW icon
2
Lowe's Companies
LOW
$116B
$881M 14.79%
9,536,591
+1,097,790
+13% +$106M
CMG icon
3
Chipotle Mexican Grill
CMG
$40.8B
$838M 14.07%
97,039,950
-5,915,350
-6% -$53.5M
HLT icon
4
Hilton Worldwide
HLT
$74B
$786M 13.19%
+10,947,479
New +$791M
SBUX icon
5
Starbucks
SBUX
$118B
$757M 12.71%
+11,754,441
New +$736M
RTX icon
6
RTX Corp
RTX
$287B
$594M 9.97%
8,863,765
+1,001,730
+13% +$78.6M
ADP icon
7
Automatic Data Processing
ADP
$100B
$534M 8.96%
4,070,126
+40,699
+1% +$5.75M
ESI icon
8
Element Solutions
ESI
$9.12B
$418M 7.01%
40,451,506
– –
HHH icon
9
Howard Hughes
HHH
$3.93B
$120M 2.02%
1,294,035
-943,730
-42% -$98.2M

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Pershing Square Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, Pershing Square Capital Management held 9 positions worth $5.96B, up 14% from $5.21B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Pershing Square Capital Management deployed $1.5B of net new capital in Q4 2018, opening 2 new positions and adding to 3 existing holdings. Its largest new stake was Hilton Worldwide: 10,947,479 shares worth $786M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 72% of assets, up from 60% a quarter earlier, followed by Industrials and Technology.

On the sell side, the largest reduction was Howard Hughes, an estimated $98.2M trimmed.

  • Pershing Square Capital Management's largest Q4 2018 buy was Hilton Worldwide: 10,947,479 shares worth $786M.
  • Pershing Square Capital Management added most to Lowe's Companies in Q4 2018, an estimated $106M increase.
  • Pershing Square Capital Management's biggest Q4 2018 reduction was Howard Hughes, cutting an estimated $98.2M.
  • Pershing Square Capital Management's ten largest holdings make up 100% of its $5.96B portfolio in Q4 2018.
  • Pershing Square Capital Management opened 2 new positions and closed 0 in Q4 2018.
  • Pershing Square Capital Management's portfolio value rose 14% quarter-over-quarter to $5.96B.

Based on Pershing Square Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.