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 |
Canadian Pacific Kansas City
CP
|
+$206M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Hilton Worldwide
HLT
|
+$41.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 85.26% |
| 2 | Real Estate | 12.86% |
| 3 | Industrials | 1.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Lowe's Companies
LOW
$120B
| $2.65B | 24.54% |
10,236,471
| – | – |
|
|
2
Hilton Worldwide
HLT
$74.8B
| $1.96B | 18.22% |
12,594,336
-291,018
| -2% | -$41.9M |
|
3
Chipotle Mexican Grill
CMG
$47.3B
| $1.95B | 18.08% |
55,736,250
| – | – |
|
4
Restaurant Brands International
QSR
$28.1B
| $1.45B | 13.47% |
23,937,248
| – | – |
|
5
Howard Hughes
HHH
$3.96B
| $1.39B | 12.86% |
14,287,552
| – | – |
|
6
Domino's
DPZ
$11.4B
| $1.18B | 10.95% |
2,092,202
| – | – |
|
|
7
Canadian Pacific Kansas City
CP
$83.5B
| $202M | 1.88% |
+2,813,747
| New | +$206M |
|
Similar funds
Pershing Square Capital Management's Q4 2021 Portfolio in Review
As of Q4 2021, Pershing Square Capital Management held 7 positions worth $10.8B, up 14% from $9.46B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pershing Square Capital Management's Q4 2021 filing shows 1 new and 1 reduced positions. Its largest new stake was Canadian Pacific Kansas City: 2,813,747 shares worth $202M. The largest sale was Hilton Worldwide, an estimated $41.9M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 85% of assets, down from 87% a quarter earlier, followed by Real Estate and Industrials.
- Pershing Square Capital Management's largest Q4 2021 buy was Canadian Pacific Kansas City: 2,813,747 shares worth $202M.
- Pershing Square Capital Management's biggest Q4 2021 reduction was Hilton Worldwide, cutting an estimated $41.9M.
- Pershing Square Capital Management's ten largest holdings make up 100% of its $10.8B portfolio in Q4 2021.
- Pershing Square Capital Management opened 1 new position and closed 0 in Q4 2021.
- Pershing Square Capital Management's portfolio value rose 14% quarter-over-quarter to $10.8B.
Based on Pershing Square Capital Management's 13F filing for Q4 2021, filed 14 Feb 2022.