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
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Netflix
NFLX
|
+$1.16B |
| 2 |
Chipotle Mexican Grill
CMG
|
+$13.3M |
| 3 |
Hilton Worldwide
HLT
|
+$6.04M |
| 4 |
Domino's
DPZ
|
+$2.49M |
| 5 |
Restaurant Brands International
QSR
|
+$2.25M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 84.82% |
| 2 | Real Estate | 12.42% |
| 3 | Industrials | 2.76% |
| 4 | Communication Services | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Lowe's Companies
LOW
$116B
| $1.78B | 23.89% |
10,207,306
| – | – |
|
|
2
Chipotle Mexican Grill
CMG
$40.8B
| $1.44B | 19.36% |
55,260,400
-475,850
| -0.9% | -$13.3M |
|
|
3
Restaurant Brands International
QSR
$25.1B
| $1.19B | 16.01% |
23,822,641
-41,990
| -0.2% | -$2.25M |
|
|
4
Hilton Worldwide
HLT
$74B
| $1.1B | 14.8% |
9,908,602
-43,685
| -0.4% | -$6.04M |
|
5
Howard Hughes
HHH
$3.93B
| $927M | 12.42% |
14,287,552
| – | – |
|
|
6
Domino's
DPZ
$11B
| $803M | 10.76% |
2,061,312
-6,719
| -0.3% | -$2.49M |
|
7
Canadian Pacific Kansas City
CP
$82B
| $206M | 2.76% |
2,944,259
| – | – |
|
|
8
Netflix
NFLX
$292B
| – | – |
-31,099,650
| Closed | -$1.16B |
|
Similar funds
Pershing Square Capital Management's Q2 2022 Portfolio in Review
As of Q2 2022, Pershing Square Capital Management held 8 positions worth $7.46B, down 28% from $10.4B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pershing Square Capital Management withdrew a net $1.19B in Q2 2022, closing 1 position and reducing 4 holdings. Its most notable exit was Netflix, an estimated $1.16B position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 85% of assets, up from 73% a quarter earlier, followed by Real Estate and Industrials.
- Pershing Square Capital Management's biggest Q2 2022 reduction was Chipotle Mexican Grill, cutting an estimated $13.3M.
- Pershing Square Capital Management fully exited Netflix in Q2 2022, selling an estimated $1.16B.
- Pershing Square Capital Management's ten largest holdings make up 100% of its $7.46B portfolio in Q2 2022.
- Pershing Square Capital Management opened 0 new positions and closed 1 in Q2 2022.
- Pershing Square Capital Management's portfolio value fell 28% quarter-over-quarter to $7.46B.
Based on Pershing Square Capital Management's 13F filing for Q2 2022, filed 15 Aug 2022.