Insights from Pershing Square's Latest 13F Filing Reveal Major Moves
William Ackman, renowned for his activist investment approach, has made significant changes to his portfolio in the third quarter of 2023. As the head of Pershing Square Capital Management, Ackman is known for targeting undervalued companies and advocating for strategic changes to unlock shareholder value. His latest 13F filing reveals a substantial increase in his position in Alphabet Inc, among other key adjustments.
Key Position Increases
During the third quarter, Ackman's Pershing Square increased its holdings in three notable stocks:
- Alphabet Inc (GOOGL, Financial) saw the most significant boost, with an additional 2,169,824 shares, bringing the total to 4,354,824 shares. This 99.31% increase in share count had a 2.71% impact on the current portfolio, amounting to a total value of $569,872,270.
- Hilton Worldwide Holdings Inc (HLT, Financial) also experienced a notable increase, with an additional 972,647 shares, resulting in a total of 10,305,500 shares. This 10.42% increase in share count represents a total value of $1,547,679,990.
Key Position Reductions
Ackman's strategy also involved reducing positions in certain stocks:
- The most significant reduction was in Lowe's Companies Inc (LOW, Financial), with a decrease of 402,227 shares. This reduction amounted to a -5.39% change in shares and had a -0.84% impact on the portfolio. Lowe's traded at an average price of $224.96 during the quarter and has seen a -9.94% return over the past three months and a 3.63% year-to-date return.
Portfolio Overview
As of the third quarter of 2023, Bill Ackman (Trades, Portfolio)'s investment portfolio comprised 8 stocks. The top holdings included 16.65% in Chipotle Mexican Grill Inc (CMG, Financial), 14.82% in Restaurant Brands International Inc (QSR, Financial), 14.75% in Hilton Worldwide Holdings Inc (HLT, Financial), 14% in Lowe's Companies Inc (LOW), and 11.87% in Howard Hughes Holdings Inc (HHH, Financial). The investments are primarily concentrated in four industries: Consumer Cyclical, Communication Services, Real Estate, and Industrials, reflecting Ackman's strategic focus on these sectors.
For value investors and those interested in following the investment strategies of industry gurus like Bill Ackman (Trades, Portfolio), these portfolio adjustments provide valuable insights. Ackman's increased stake in Alphabet Inc, in particular, highlights his confidence in the tech giant's potential for growth and value realization. As market conditions evolve, it will be interesting to see how these strategic moves play out in the coming months.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
