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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
+0.94%
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
$12.7B
AUM Growth
-$255M
Cap. Flow
-$282M
Cap. Flow %
-2.22%
Top 10 Hldgs %
99.63%
Holding
12
New
1
Increased
3
Reduced
2
Closed
1

Top Buys

Rank Stock Value
1
NKE icon
Nike
NKE
+$195M
2
BN icon
Brookfield
BN
+$122M
3
SEG
Seaport Entertainment Group
SEG
+$84.4M
4
HTZ icon
Hertz
HTZ
+$45.9M

Top Sells

Rank Stock Value
1
HLT icon
Hilton Worldwide
HLT
+$472M
2
CMG icon
Chipotle Mexican Grill
CMG
+$251M
3
SEG.RT
Seaport Entertainment Group Inc. Rights (expiring October 10, 2024)
SEG.RT
+$6.18M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 45.42%
2 Communication Services 17.31%
3 Financials 15.83%
4 Real Estate 12.56%
5 Industrials 8.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BN icon
1
Brookfield
BN
$102B
$2B 15.83%
52,339,596
+3,235,771
+7% +$122M
QSR icon
2
Restaurant Brands International
QSR
$25.1B
$1.5B 11.84%
23,000,914
– –
CMG icon
3
Chipotle Mexican Grill
CMG
$40.8B
$1.49B 11.74%
24,653,533
-4,161,632
-14% -$251M
HHH icon
4
Howard Hughes
HHH
$3.93B
$1.45B 11.45%
18,852,064
– –
GOOG icon
5
Alphabet (Google) Class C
GOOG
$3.9T
$1.44B 11.35%
7,547,582
– –
NKE icon
6
Nike
NKE
$61.9B
$1.42B 11.22%
18,768,946
+2,488,608
+15% +$195M
HLT icon
7
Hilton Worldwide
HLT
$74B
$1.34B 10.62%
5,440,546
-1,929,622
-26% -$472M
CP icon
8
Canadian Pacific Kansas City
CP
$82B
$1.08B 8.5%
14,877,651
– –
GOOGL icon
9
Alphabet (Google) Class A
GOOGL
$3.91T
$755M 5.96%
3,986,488
– –
SEG
10
Seaport Entertainment Group
SEG
$333M
$140M 1.11%
5,023,780
+2,929,107
+140% +$84.4M
HTZ icon
11
Hertz
HTZ
$572M
$46.5M 0.37%
+12,713,963
New +$45.9M
SEG.RT
12
DELISTED
Seaport Entertainment Group Inc. Rights (expiring October 10, 2024)
SEG.RT
– –
-2,094,673
Closed -$6.18M

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Pershing Square Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Pershing Square Capital Management held 12 positions worth $12.7B, down 2% from $12.9B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Pershing Square Capital Management's Q4 2024 filing shows 1 new, 3 increased, 2 reduced and 1 closed positions. Its largest new stake was Hertz: 12,713,963 shares worth $46.5M. The largest sale was Hilton Worldwide, an estimated $472M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 45% of assets, down from 50% a quarter earlier, followed by Communication Services and Financials.

  • Pershing Square Capital Management's largest Q4 2024 buy was Hertz: 12,713,963 shares worth $46.5M.
  • Pershing Square Capital Management added most to Nike in Q4 2024, an estimated $195M increase.
  • Pershing Square Capital Management's biggest Q4 2024 reduction was Hilton Worldwide, cutting an estimated $472M.
  • Pershing Square Capital Management fully exited Seaport Entertainment Group Inc. Rights (expiring October 10, 2024) in Q4 2024, selling an estimated $6.18M.
  • Pershing Square Capital Management's ten largest holdings make up 100% of its $12.7B portfolio in Q4 2024.
  • Pershing Square Capital Management opened 1 new position and closed 1 in Q4 2024.
  • Pershing Square Capital Management's portfolio value fell 2% quarter-over-quarter to $12.7B.

Based on Pershing Square Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.