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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
+8.88%
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
$10.2B
AUM Growth
+$1.43B
Cap. Flow
+$705M
Cap. Flow %
6.9%
Top 10 Hldgs %
100%
Holding
8
New
2
Increased
2
Reduced
3
Closed
–

Top Buys

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$779M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$210M
3
HHH icon
Howard Hughes
HHH
+$7.3M
4
CP icon
Canadian Pacific Kansas City
CP
+$77.2K

Top Sells

Rank Stock Value
1
CMG icon
Chipotle Mexican Grill
CMG
+$119M
2
HLT icon
Hilton Worldwide
HLT
+$103M
3
LOW icon
Lowe's Companies
LOW
+$68.8M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 65.57%
2 Real Estate 12.52%
3 Industrials 11.48%
4 Communication Services 10.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LOW icon
1
Lowe's Companies
LOW
$116B
$2.01B 19.64%
10,036,114
-338,687
-3% -$68.8M
CMG icon
2
Chipotle Mexican Grill
CMG
$40.8B
$1.76B 17.21%
51,459,300
-3,801,100
-7% -$119M
QSR icon
3
Restaurant Brands International
QSR
$25.1B
$1.62B 15.9%
24,194,166
– –
HLT icon
4
Hilton Worldwide
HLT
$74B
$1.31B 12.82%
9,299,041
-732,539
-7% -$103M
HHH icon
5
Howard Hughes
HHH
$3.93B
$1.28B 12.52%
16,767,774
+93,777
+0.6% +$7.3M
CP icon
6
Canadian Pacific Kansas City
CP
$82B
$1.17B 11.48%
15,238,044
+1,000
+0% +$77.2K
GOOG icon
7
Alphabet (Google) Class C
GOOG
$3.9T
$839M 8.21%
+8,069,770
New +$779M
GOOGL icon
8
Alphabet (Google) Class A
GOOGL
$3.91T
$227M 2.22%
+2,185,000
New +$210M

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Pershing Square Capital Management's Q1 2023 Portfolio in Review

As of Q1 2023, Pershing Square Capital Management held 8 positions worth $10.2B, up 16% from $8.78B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Pershing Square Capital Management deployed $705M of net new capital in Q1 2023, opening 2 new positions and adding to 2 existing holdings. Its largest new stake was Alphabet (Google) Class C: 8,069,770 shares worth $839M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 66% of assets, down from 73% a quarter earlier, followed by Real Estate and Industrials.

On the sell side, the largest reduction was Chipotle Mexican Grill, an estimated $119M trimmed.

  • Pershing Square Capital Management's largest Q1 2023 buy was Alphabet (Google) Class C: 8,069,770 shares worth $839M.
  • Pershing Square Capital Management added most to Howard Hughes in Q1 2023, an estimated $7.3M increase.
  • Pershing Square Capital Management's biggest Q1 2023 reduction was Chipotle Mexican Grill, cutting an estimated $119M.
  • Pershing Square Capital Management's ten largest holdings make up 100% of its $10.2B portfolio in Q1 2023.
  • Pershing Square Capital Management opened 2 new positions and closed 0 in Q1 2023.
  • Pershing Square Capital Management's portfolio value rose 16% quarter-over-quarter to $10.2B.

Based on Pershing Square Capital Management's 13F filing for Q1 2023, filed 15 May 2023.