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 |
Uber
UBER
|
+$2.18B |
| 2 |
Brookfield
BN
|
+$347M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$81.9M |
| 4 |
Hertz
HTZ
|
+$9.18M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nike
NKE
|
+$1.42B |
| 2 |
Hilton Worldwide
HLT
|
+$608M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$224M |
| 4 |
Chipotle Mexican Grill
CMG
|
+$169M |
| 5 |
Canadian Pacific Kansas City
CP
|
+$5.92M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 27.64% |
| 2 | Technology | 18.5% |
| 3 | Financials | 18.01% |
| 4 | Communication Services | 14.03% |
| 5 | Real Estate | 12.61% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Uber
UBER
$134B
| $2.21B | 18.5% |
+30,301,161
| New | +$2.18B |
|
|
2
Brookfield
BN
$102B
| $2.15B | 18.01% |
61,506,986
+9,167,390
| +18% | +$347M |
|
3
Restaurant Brands International
QSR
$25.1B
| $1.53B | 12.85% |
23,000,914
| – | – |
|
4
Howard Hughes
HHH
$3.93B
| $1.4B | 11.71% |
18,852,064
| – | – |
|
|
5
Chipotle Mexican Grill
CMG
$40.8B
| $1.08B | 9.07% |
21,541,177
-3,112,356
| -13% | -$169M |
|
|
6
Canadian Pacific Kansas City
CP
$82B
| $1.04B | 8.71% |
14,799,796
-77,855
| -0.5% | -$5.92M |
|
|
7
Alphabet (Google) Class C
GOOG
$3.9T
| $988M | 8.28% |
6,324,031
-1,223,551
| -16% | -$224M |
|
|
8
Alphabet (Google) Class A
GOOGL
$3.91T
| $686M | 5.75% |
4,437,980
+451,492
| +11% | +$81.9M |
|
|
9
Hilton Worldwide
HLT
$74B
| $683M | 5.72% |
3,000,770
-2,439,776
| -45% | -$608M |
|
|
SEG
10
Seaport Entertainment Group
SEG
$333M
| $108M | 0.9% |
5,023,780
| – | – |
|
|
11
Hertz
HTZ
$572M
| $59.1M | 0.5% |
15,000,000
+2,286,037
| +18% | +$9.18M |
|
|
12
Nike
NKE
$61.9B
| – | – |
-18,768,946
| Closed | -$1.42B |
|
Similar funds
Pershing Square Capital Management's Q1 2025 Portfolio in Review
As of Q1 2025, Pershing Square Capital Management held 12 positions worth $11.9B, down 5.8% from $12.7B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Pershing Square Capital Management's Q1 2025 filing shows 1 new, 3 increased, 4 reduced and 1 closed positions. Its largest new stake was Uber: 30,301,161 shares worth $2.21B. The largest sale was Nike, an estimated $1.42B.
By sector, the portfolio is most concentrated in Consumer Discretionary at 28% of assets, down from 45% a quarter earlier, followed by Technology and Financials.
- Pershing Square Capital Management's largest Q1 2025 buy was Uber: 30,301,161 shares worth $2.21B.
- Pershing Square Capital Management added most to Brookfield in Q1 2025, an estimated $347M increase.
- Pershing Square Capital Management's biggest Q1 2025 reduction was Hilton Worldwide, cutting an estimated $608M.
- Pershing Square Capital Management fully exited Nike in Q1 2025, selling an estimated $1.42B.
- Pershing Square Capital Management's ten largest holdings make up 100% of its $11.9B portfolio in Q1 2025.
- Pershing Square Capital Management opened 1 new position and closed 1 in Q1 2025.
- Pershing Square Capital Management's portfolio value fell 5.8% quarter-over-quarter to $11.9B.
Based on Pershing Square Capital Management's 13F filing for Q1 2025, filed 15 May 2025.