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 |
Domino's
DPZ
|
+$1.47M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lowe's Companies
LOW
|
+$356M |
| 2 |
Restaurant Brands International
QSR
|
+$15.5M |
| 3 |
Agilent Technologies
A
|
+$14.8M |
| 4 |
Hilton Worldwide
HLT
|
+$14.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 71.6% |
| 2 | Healthcare | 16.14% |
| 3 | Real Estate | 12.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Lowe's Companies
LOW
$116B
| $1.97B | 18.37% |
10,140,520
-1,817,795
| -15% | -$356M |
|
|
2
Agilent Technologies
A
$39.1B
| $1.73B | 16.14% |
11,695,838
-108,698
| -0.9% | -$14.8M |
|
3
Chipotle Mexican Grill
CMG
$40.8B
| $1.68B | 15.72% |
54,306,800
| – | – |
|
|
4
Hilton Worldwide
HLT
$74B
| $1.54B | 14.37% |
12,760,047
-118,589
| -0.9% | -$14.8M |
|
|
5
Restaurant Brands International
QSR
$25.1B
| $1.53B | 14.26% |
23,696,917
-229,735
| -1% | -$15.5M |
|
6
Howard Hughes
HHH
$3.93B
| $1.31B | 12.26% |
14,130,038
| – | – |
|
|
7
Domino's
DPZ
$11B
| $951M | 8.88% |
2,039,170
+3,466
| +0.2% | +$1.47M |
|
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Pershing Square Capital Management's Q2 2021 Portfolio in Review
As of Q2 2021, Pershing Square Capital Management held 7 positions worth $10.7B, up 2.4% from $10.5B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pershing Square Capital Management withdrew a net $399M in Q2 2021, reducing 4 holdings. Its largest reduction was Lowe's Companies, cutting an estimated $356M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 72% of assets, down from 73% a quarter earlier, followed by Healthcare and Real Estate.
Against the trend, Pershing Square Capital Management added an estimated $1.47M to Domino's.
- Pershing Square Capital Management added most to Domino's in Q2 2021, an estimated $1.47M increase.
- Pershing Square Capital Management's biggest Q2 2021 reduction was Lowe's Companies, cutting an estimated $356M.
- Pershing Square Capital Management's ten largest holdings make up 100% of its $10.7B portfolio in Q2 2021.
- Pershing Square Capital Management opened 0 new positions and closed 0 in Q2 2021.
- Pershing Square Capital Management's portfolio value rose 2.4% quarter-over-quarter to $10.7B.
Based on Pershing Square Capital Management's 13F filing for Q2 2021, filed 16 Aug 2021.