Pershing Square

Q4 2020 13F · by Bill Ackman, portfolio manager

As of: Dec 31, 2020
Filed: Feb 16, 2021
US stock: $10.0B · prev $8.8B
Positions: 7 · prev 7
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves5 since the prior filing

0.0 pp in · −1.2 pp out

New 0 0.00 pp
Added 0 0.00 pp
Trimmed 5 −1.21 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 7 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.0% a year

Low
Moderate
High

Top 5 positions81% of US stock

LOW Lowe's Companies Inc. trimmed−3.45 pp trimmed−3.4519.9%
CMG Chipotle Mexican Grill, Inc. held held16.1%
QSR Restaurant Brands International Inc. trimmed−1.07 pp trimmed−1.0715.3%
HLT Hilton Worldwide Holdings Inc. trimmed+1.93 pp trimmed+1.9314.8%
A Agilent Technologies Inc. trimmed+0.48 pp trimmed+0.4814.5%

Positions7 in this filing · 0 exited


LOWLowe's Companies Inc.	19.88%	12,387,587	$2.0B	trimmed−0%	−3.45 pp	11 q
CMGChipotle Mexican Grill, Inc.	16.10%	1,161,232	$1.6B	held	—	18 q
QSRRestaurant Brands International Inc.	15.30%	25,038,527	$1.5B	trimmed−0%	−1.07 pp	25 q
HLTHilton Worldwide Holdings Inc.	14.85%	13,350,206	$1.5B	trimmed−0%	+1.93 pp	9 q
AAgilent Technologies Inc.	14.49%	12,236,107	$1.4B	trimmed−0%	+0.48 pp	6 q
SBUXStarbucks Corp	10.77%	10,070,042	$1.1B	trimmed−1%	+0.90 pp	9 q
HHCThe Howard Hughes Corporation	8.62%	10,918,008	$862M	held	—	31 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001172661-21-000814
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet