Bill Ackman – Portfolio Update – Q3 2024
Bill Ackman, the renowned activist investor and founder of Pershing Square Capital Management, is widely recognized for his bold investment strategies and outspoken market insights. In his latest disclosure, Ackman unveiled his fund’s portfolio positions for Q3 2024. Over the quarter, the portfolio expanded with one new addition, while Ackman made small adjustments to existing holdings without closing any positions, maintaining a total of nine names.
Bill Ackman’s Portfolio Holdings and New Positions by Quarter
New Addition
A new position in Ackman’s portfolio is Seaport Entertainment Group ($SEG), a company spun off on July 29th from Howard Hughes Corporation ($HHH), a name Ackman has held in his portfolio for a long time. While $SEG is insignificant relative to Ackman’s total portfolio size, it represents only 0.44% of the portfolio.
Brookfield Corp ($BN): From the Bottom to the Top
Brookfield Corp ($BN) saw the most significant increase in Ackman’s portfolio in the latest filing. Ackman purchased an additional 26 million shares, boosting his $BN holdings by an impressive 377%. This move elevated $BN to the second-largest position in the portfolio, trailing only Alphabet ($GOOG). Ackman first invested in $BN during Q2 2024, when it was the seventh-largest holding.
Increased Position in Nike Inc ($NKE)
Ackman also increased his stake in Nike Inc ($NKE) by 13 million shares. He initially opened the position after Nike’s stock price plunged nearly 20% due to a projected decline. Ackman appears to view Nike’s challenges as temporary, betting on the resilience of the brand. This approach mirrors his previous investment in Chipotle, where he leveraged a turnaround opportunity to generate significant returns.
Small Reductions: Hilton ($HLT), Howard Hughes ($HHH), and Canadian Pacific ($CP)
Ackman made modest reductions in several positions, including Hilton Worldwide Holdings ($HLT), Howard Hughes Corporation ($HHH), and Canadian Pacific Kansas City Limited ($CP). The most notable cut was $HLT, where he trimmed the position by 18%. The adjustments to $HHH and $CP were minor and had an insignificant impact on the portfolio.
Current Portfolio Composition
This article is for informational purposes only and is neither investment advice nor a solicitation to buy or sell securities. All investment involves inherent risks, including the total loss of principal, and past performance is not a guarantee of future results. Always conduct thorough research or consult with a financial expert before making any investment decisions. BBAE has no position in any investment mentioned.
