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 |
Brookfield
BN
|
+$1.23B |
| 2 |
Nike
NKE
|
+$1.04B |
| 3 |
SEG
Seaport Entertainment Group
SEG
|
+$59.6M |
| 4 |
SEG.RT
Seaport Entertainment Group Inc. Rights (expiring October 10, 2024)
SEG.RT
|
+$6.03M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Hilton Worldwide
HLT
|
+$342M |
| 2 |
Howard Hughes
HHH
|
+$65.2M |
| 3 |
Restaurant Brands International
QSR
|
+$9.95M |
| 4 |
Canadian Pacific Kansas City
CP
|
+$7.23M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 49.99% |
| 2 | Communication Services | 14.89% |
| 3 | Financials | 13.47% |
| 4 | Real Estate | 11.75% |
| 5 | Industrials | 9.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Brookfield
BN
$102B
| $1.74B | 13.47% |
49,103,825
+38,822,060
| +378% | +$1.23B |
|
|
2
Hilton Worldwide
HLT
$74B
| $1.7B | 13.15% |
7,370,168
-1,582,122
| -18% | -$342M |
|
3
Chipotle Mexican Grill
CMG
$40.8B
| $1.66B | 12.85% |
28,815,165
| – | – |
|
|
4
Restaurant Brands International
QSR
$25.1B
| $1.66B | 12.84% |
23,000,914
-141,628
| -0.6% | -$9.95M |
|
|
5
Howard Hughes
HHH
$3.93B
| $1.46B | 11.3% |
18,852,064
-923,751
| -5% | -$65.2M |
|
|
6
Nike
NKE
$61.9B
| $1.44B | 11.14% |
16,280,338
+13,240,206
| +436% | +$1.04B |
|
|
7
Canadian Pacific Kansas City
CP
$82B
| $1.27B | 9.85% |
14,877,651
-87,990
| -0.6% | -$7.23M |
|
8
Alphabet (Google) Class C
GOOG
$3.9T
| $1.26B | 9.77% |
7,547,582
| – | – |
|
|
9
Alphabet (Google) Class A
GOOGL
$3.91T
| $661M | 5.12% |
3,986,488
| – | – |
|
|
SEG
10
Seaport Entertainment Group
SEG
$333M
| $57.4M | 0.44% |
+2,094,673
| New | +$59.6M |
|
|
SEG.RT
11
DELISTED
Seaport Entertainment Group Inc. Rights (expiring October 10, 2024)
SEG.RT
| $6.18M | 0.05% |
+2,094,673
| New | +$6.03M |
|
Similar funds
Pershing Square Capital Management's Q3 2024 Portfolio in Review
As of Q3 2024, Pershing Square Capital Management held 11 positions worth $12.9B, up 24% from $10.4B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pershing Square Capital Management deployed $1.9B of net new capital in Q3 2024, opening 2 new positions and adding to 2 existing holdings. Its largest new stake was Seaport Entertainment Group: 2,094,673 shares worth $57.4M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 50% of assets, down from 54% a quarter earlier, followed by Communication Services and Financials.
On the sell side, the largest reduction was Hilton Worldwide, an estimated $342M trimmed.
- Pershing Square Capital Management's largest Q3 2024 buy was Seaport Entertainment Group: 2,094,673 shares worth $57.4M.
- Pershing Square Capital Management added most to Brookfield in Q3 2024, an estimated $1.23B increase.
- Pershing Square Capital Management's biggest Q3 2024 reduction was Hilton Worldwide, cutting an estimated $342M.
- Pershing Square Capital Management's ten largest holdings make up 100% of its $12.9B portfolio in Q3 2024.
- Pershing Square Capital Management opened 2 new positions and closed 0 in Q3 2024.
- Pershing Square Capital Management's portfolio value rose 24% quarter-over-quarter to $12.9B.
Based on Pershing Square Capital Management's 13F filing for Q3 2024, filed 14 Nov 2024.