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 |
Netflix
NFLX
|
+$1.29B |
| 2 |
Canadian Pacific Kansas City
CP
|
+$9.82M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Hilton Worldwide
HLT
|
+$390M |
| 2 |
Domino's
DPZ
|
+$10.5M |
| 3 |
Lowe's Companies
LOW
|
+$6.71M |
| 4 |
Restaurant Brands International
QSR
|
+$4.13M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 72.87% |
| 2 | Real Estate | 13.58% |
| 3 | Communication Services | 11.21% |
| 4 | Industrials | 2.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Lowe's Companies
LOW
$116B
| $2.06B | 19.86% |
10,207,306
-29,165
| -0.3% | -$6.71M |
|
2
Chipotle Mexican Grill
CMG
$40.8B
| $1.76B | 16.97% |
55,736,250
| – | – |
|
|
3
Hilton Worldwide
HLT
$74B
| $1.51B | 14.53% |
9,952,287
-2,642,049
| -21% | -$390M |
|
4
Howard Hughes
HHH
$3.93B
| $1.41B | 13.58% |
14,287,552
| – | – |
|
|
5
Restaurant Brands International
QSR
$25.1B
| $1.39B | 13.41% |
23,864,631
-72,617
| -0.3% | -$4.13M |
|
|
6
Netflix
NFLX
$292B
| $1.16B | 11.21% |
+31,099,650
| New | +$1.29B |
|
|
7
Domino's
DPZ
$11B
| $842M | 8.1% |
2,068,031
-24,171
| -1% | -$10.5M |
|
|
8
Canadian Pacific Kansas City
CP
$82B
| $243M | 2.34% |
2,944,259
+130,512
| +5% | +$9.82M |
|
Similar funds
Pershing Square Capital Management's Q1 2022 Portfolio in Review
As of Q1 2022, Pershing Square Capital Management held 8 positions worth $10.4B, down 3.6% from $10.8B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pershing Square Capital Management deployed $894M of net new capital in Q1 2022, opening 1 new position and adding to 1 existing holding. Its largest new stake was Netflix: 31,099,650 shares worth $1.16B.
By sector, the portfolio is most concentrated in Consumer Discretionary at 73% of assets, down from 85% a quarter earlier, followed by Real Estate and Communication Services.
On the sell side, the largest reduction was Hilton Worldwide, an estimated $390M trimmed.
- Pershing Square Capital Management's largest Q1 2022 buy was Netflix: 31,099,650 shares worth $1.16B.
- Pershing Square Capital Management added most to Canadian Pacific Kansas City in Q1 2022, an estimated $9.82M increase.
- Pershing Square Capital Management's biggest Q1 2022 reduction was Hilton Worldwide, cutting an estimated $390M.
- Pershing Square Capital Management's ten largest holdings make up 100% of its $10.4B portfolio in Q1 2022.
- Pershing Square Capital Management opened 1 new position and closed 0 in Q1 2022.
- Pershing Square Capital Management's portfolio value fell 3.6% quarter-over-quarter to $10.4B.
Based on Pershing Square Capital Management's 13F filing for Q1 2022, filed 16 May 2022.