We break down the stocks Bill Ackman (Pershing Square) bought, sold, and held in Q1 2024, including their holdings at the end of the quarter. All data sourced from Pershing Square's 13F filed on May 15, 2024.
Who are Bill Ackman and Pershing Square?
Pershing Square is a concentrated investment firm founded in 2004 by billionaire investor Bill Ackman. Structured as a closed-ended fund, Pershing Square takes significant but typically non-controlling positions in a small number of large-cap companies. Ackman employs an activist approach, advocating for operational and strategic changes to unlock shareholder value. The firm aims to maximize long-term compound annual growth in intrinsic value per share through high-conviction positions.
Pershingsquareholdings.com
Wikipedia on Bill Ackman
Portfolio Changes in Q1 2024
New positions
Pershing Square did not initiate any new positions during Q1 2024.
Bought
Pershing Square did not add to any existing positions during the quarter.
Sold
Pershing Square made significant portfolio changes by completely liquidating its position in Lowe's (LOW), selling 1,245,515 shares worth $277.2 million, and trimming its Chipotle (CMG) holding by 81,014 shares, reducing the position from 824,998 to 743,984 shares.
Holdings at the end of Q1 2024
| Ticker | Company | Weight | Change | Value |
|---|---|---|---|---|
| CMG | Chipotle | 20.1% | Trimmed (-10%) | $2.16B |
| HLT | Hilton | 18.2% | $1.96B | |
| QSR | Restaurant Brands | 17.2% | $1.86B | |
| GOOG | Alphabet | 13.3% | $1.43B | |
| HHH | Howard Hughes | 12.7% | $1.37B | |
| CP | Canadian Pacific Kansas City | 12.4% | $1.33B | |
| GOOGL | Alphabet | 6.1% | $657.27M | |
| LOW | Lowe's | 0.0% | Exited | $0 |
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