Bill Ackman

Pershing Square Inc.

as of Jun 30, 2023 · filed Aug 14, 2023 · 45-day reporting lag · historical report

Source filings

13F-HR 0001172661-23-003137

QuarterCompare any two quarters

Portfolio value$10.8B 5.9% vs. previous quarter

Positions71 new · 1 sold

Top 576.6%largest CMG at 18.9%

Largest moveCPNew · 11.3% weight

Concentration

How much of the portfolio the biggest positions add up to. Hover the curve, or focus it and use the arrow keys, to inspect each rank.

Longest held

One block per imported quarter, oldest at the left. A full row means held in all of them, not that the position began there.

17%held throughout

QSR26

HLT24

CMG23

LOW16

HHC*14

Top 3 moves

CP+11.3%

LOW−4.1%

GOOG+2.5%

1 new position and 1 sold; the largest portfolio-weight shift was CP entering at 11.3%.

Holdings

Reported price is value divided by shares, the manager’s quarter-end mark rather than a traded price.

Sorted by portfolio weight, high to low

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Reported holdings for Q2 2023

CMGCHIPOTLE MEXICAN GRILL INCConsumer Discretionary	18.9%+1.6%	Reduced7.3%	953,608	$2139.00	$2.04B
QSRRESTAURANT BRANDS INTERNConsumer Discretionary	16.7%+0.8%	Reduced3.5%	23,348,135	$77.52	$1.81B
LOWLOWE'S COS INCConsumer Discretionary	15.6%-4.1%	Reduced25.6%	7,468,850	$225.70	$1.69B
GOOGALPHABET INCCommunication ServicesGOOG · GOOGLSupply chain (as of Q2 2026)	12.9%+2.5%	Increased	GOOG9,377,195GOOGL2,185,000	GOOG$120.97GOOGL$119.70	$1.40B
HLTHILTON WORLDWIDE HOLDINGS INConsumer Discretionary	12.6%-0.3%	Increased0.4%	9,332,853	$145.55	$1.36B
HHC*HOWARD HUGHES CORP/THEUnclassified	12.1%-0.4%	Increased3.7%	16,570,228	$78.92	$1.31B
CPNEWCANADIAN PACIFIC KANSAS CITYIndustrials	11.3%+11.3%	New	15,095,528	$80.77	$1.22B

Bill Ackman

Pershing Square Inc.

as of Jun 30, 2023 · filed Aug 14, 2023 · 45-day reporting lag · historical report

CMGCHIPOTLE MEXICAN GRILL INCConsumer Discretionary

18.9%+1.6%

Reduced7.3%

953,608

$2139.00

$2.04B

QSRRESTAURANT BRANDS INTERNConsumer Discretionary

16.7%+0.8%

Reduced3.5%

23,348,135

$77.52

$1.81B

LOWLOWE'S COS INCConsumer Discretionary

15.6%-4.1%

Reduced25.6%

7,468,850

$225.70

$1.69B

GOOGALPHABET INCCommunication ServicesGOOG · GOOGLSupply chain (as of Q2 2026)

12.9%+2.5%

Increased

GOOG9,377,195GOOGL2,185,000

GOOG$120.97GOOGL$119.70

$1.40B

HLTHILTON WORLDWIDE HOLDINGS INConsumer Discretionary

12.6%-0.3%

Increased0.4%

9,332,853

$145.55

$1.36B

HHC*HOWARD HUGHES CORP/THEUnclassified

12.1%-0.4%

Increased3.7%

16,570,228

$78.92

$1.31B

CPNEWCANADIAN PACIFIC KANSAS CITYIndustrials

11.3%+11.3%

New

15,095,528

$80.77

$1.22B