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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
+28.4%
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
$6.72B
AUM Growth
+$759M
Cap. Flow
-$668M
Cap. Flow %
-9.95%
Top 10 Hldgs %
100%
Holding
9
New
–
Increased
2
Reduced
6
Closed
1

Top Buys

Rank Stock Value
1
RTX icon
RTX Corp
RTX
+$29.1M
2
HLT icon
Hilton Worldwide
HLT
+$1.47M

Top Sells

Rank Stock Value
1
ESI icon
Element Solutions
ESI
+$418M
2
SBUX icon
Starbucks
SBUX
+$121M
3
QSR icon
Restaurant Brands International
QSR
+$82.5M
4
CMG icon
Chipotle Mexican Grill
CMG
+$45.3M
5
LOW icon
Lowe's Companies
LOW
+$22.1M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 77.29%
2 Industrials 11.17%
3 Technology 9.58%
4 Real Estate 1.96%
5 Materials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CMG icon
1
Chipotle Mexican Grill
CMG
$40.8B
$1.32B 19.7%
93,135,500
-3,904,450
-4% -$45.3M
QSR icon
2
Restaurant Brands International
QSR
$25.1B
$1.19B 17.78%
18,342,703
-1,342,899
-7% -$82.5M
LOW icon
3
Lowe's Companies
LOW
$116B
$1.02B 15.18%
9,315,033
-221,558
-2% -$22.1M
HLT icon
4
Hilton Worldwide
HLT
$74B
$911M 13.57%
10,966,251
+18,772
+0.2% +$1.47M
RTX icon
5
RTX Corp
RTX
$287B
$750M 11.17%
9,246,714
+382,949
+4% +$29.1M
SBUX icon
6
Starbucks
SBUX
$118B
$743M 11.06%
9,994,049
-1,760,392
-15% -$121M
ADP icon
7
Automatic Data Processing
ADP
$100B
$644M 9.58%
4,029,526
-40,600
-1% -$5.9M
HHH icon
8
Howard Hughes
HHH
$3.93B
$131M 1.96%
1,253,338
-40,697
-3% -$4.22M
ESI icon
9
Element Solutions
ESI
$9.12B
– –
-40,451,506
Closed -$418M

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Pershing Square Capital Management's Q1 2019 Portfolio in Review

As of Q1 2019, Pershing Square Capital Management held 9 positions worth $6.72B, up 13% from $5.96B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Pershing Square Capital Management withdrew a net $668M in Q1 2019, closing 1 position and reducing 6 holdings. Its most notable exit was Element Solutions, an estimated $418M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 77% of assets, up from 72% a quarter earlier, followed by Industrials and Technology.

Against the trend, Pershing Square Capital Management added an estimated $29.1M to RTX Corp.

  • Pershing Square Capital Management added most to RTX Corp in Q1 2019, an estimated $29.1M increase.
  • Pershing Square Capital Management's biggest Q1 2019 reduction was Starbucks, cutting an estimated $121M.
  • Pershing Square Capital Management fully exited Element Solutions in Q1 2019, selling an estimated $418M.
  • Pershing Square Capital Management's ten largest holdings make up 100% of its $6.72B portfolio in Q1 2019.
  • Pershing Square Capital Management opened 0 new positions and closed 1 in Q1 2019.
  • Pershing Square Capital Management's portfolio value rose 13% quarter-over-quarter to $6.72B.

Based on Pershing Square Capital Management's 13F filing for Q1 2019, filed 15 May 2019.