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 |
Lowe's Companies
LOW
|
+$277M |
| 2 |
Chipotle Mexican Grill
CMG
|
+$207M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 55.53% |
| 2 | Communication Services | 19.38% |
| 3 | Real Estate | 12.72% |
| 4 | Industrials | 12.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Chipotle Mexican Grill
CMG
$40.8B
| $2.16B | 20.1% |
37,199,200
-4,050,700
| -10% | -$207M |
|
2
Hilton Worldwide
HLT
$74B
| $1.96B | 18.2% |
9,181,180
| – | – |
|
3
Restaurant Brands International
QSR
$25.1B
| $1.86B | 17.24% |
23,348,135
| – | – |
|
4
Alphabet (Google) Class C
GOOG
$3.9T
| $1.43B | 13.27% |
9,377,195
| – | – |
|
5
Howard Hughes
HHH
$3.93B
| $1.37B | 12.72% |
19,775,815
| – | – |
|
6
Canadian Pacific Kansas City
CP
$82B
| $1.33B | 12.37% |
15,095,528
| – | – |
|
|
7
Alphabet (Google) Class A
GOOGL
$3.91T
| $657M | 6.11% |
4,354,824
| – | – |
|
|
8
Lowe's Companies
LOW
$116B
| – | – |
-1,245,515
| Closed | -$277M |
|
Similar funds
Pershing Square Capital Management's Q1 2024 Portfolio in Review
As of Q1 2024, Pershing Square Capital Management held 8 positions worth $10.8B, up 3.5% from $10.4B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pershing Square Capital Management withdrew a net $484M in Q1 2024, closing 1 position and reducing 1 holding. Its most notable exit was Lowe's Companies, an estimated $277M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 56% of assets, up from 54% a quarter earlier, followed by Communication Services and Real Estate.
- Pershing Square Capital Management's biggest Q1 2024 reduction was Chipotle Mexican Grill, cutting an estimated $207M.
- Pershing Square Capital Management fully exited Lowe's Companies in Q1 2024, selling an estimated $277M.
- Pershing Square Capital Management's ten largest holdings make up 100% of its $10.8B portfolio in Q1 2024.
- Pershing Square Capital Management opened 0 new positions and closed 1 in Q1 2024.
- Pershing Square Capital Management's portfolio value rose 3.5% quarter-over-quarter to $10.8B.
Based on Pershing Square Capital Management's 13F filing for Q1 2024, filed 15 May 2024.