uploads/2018/01/Untitled.png

What Were Pershing Square’s Top Holdings in 3Q17?

By

Updated

Pershing Square’s top holdings in 3Q17

Activist hedge fund manager Bill Ackman is renowned for his activist investment strategy. In the previous part of this series, we discussed how his firm performed in 2017 and how his various positions impacted the overall firm’s performance in 2017. In this part, we’ll analyze the top holdings of Pershing Square Capital Management in 3Q17.

In 3Q17, the top five holdings of Pershing Square Capital Management were Restaurant Brands International (QSR), Automatic Data Processing (ADP), Chipotle Mexican Grill (CMG), Mondelēz International (MDLZ), and the Howard Hughes Corporation (HHC). These stocks represented 33.1%, 18.8%, 17.3%, 11%, and 10.8%, respectively, of the firm’s holdings in 3Q17.

According to the institutional ownership report, Pershing Square Capital Management was the largest investor in QSR with 26.5 million shares in 3Q17. Pershing Square Capital was the seventh largest investor in ADP with 8.7 million shares in 3Q17. Similarly, the firm was the largest investor in CMG with 2.9 million shares in 3Q17.

Top buying

One of the firm’s top purchases in 3Q17 was Automatic Data Processing (ADP). Pershing Square’s strong position in this stock also helped the stock prices to move higher in August 2017.

In the next part of this series, we’ll analyze Bill Ackman’s largest sector holdings in 3Q17.

More From Market Realist