Great investors · Bill Ackman · Q3 2024
What Bill Ackman bought and sold in Q3 2024
Pershing Square 13F portfolio as of Sep 30, 2024: 11 positions worth $12.9 bn. Largest: GOOG, BN, HLT, CMG. Filed with the SEC on Nov 14, 2024.
The 13F is filed by Pershing Square, not by Bill Ackman personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q3 2024
- IncreasedBrookfieldBN+10.7 pp
- IncreasedNikeNKE+9.1 pp
Sells in Q3 2024
- ReducedHilton Worldwide HoldingsHLT−2.8 pp
3 companies with material moves, out of 3 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Pershing Square's Q3 2024 13F lists 11 lines of US-listed securities worth $12.9 bn; the largest is BN at 13.5% of the portfolio. It was accepted by the SEC on Nov 14, 2024 at 4:17 PM ET.
Against the previous quarter, it opened 1 position (Seaport Entertainment Group), closed none, added to 2 (BN and NKE) and trimmed 1 (HLT). 6 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Brookfield BN | 32.7 M | $1.7 bn | 13.5% | +378% |
| 2 | Hilton Worldwide Holdings HLT | 7.4 M | $1.7 bn | 13.2% | −18% |
| 3 | Chipotle Mexican Grill CMG | 28.8 M | $1.7 bn | 12.9% | no change |
| 4 | Restaurant Brands International QSR | 23.0 M | $1.7 bn | 12.8% | no change |
| 5 | Howard Hughes Holdings HHH | 18.9 M | $1.5 bn | 11.3% | no change |
| 6 | Nike NKE | 16.3 M | $1.4 bn | 11.1% | +436% |
| 7 | Canadian Pacific Kansas City CP | 14.9 M | $1.3 bn | 9.85% | no change |
| 8 | Alphabet GOOG | 7.5 M | $1.3 bn | 9.77% | no change |
| 9 | Alphabet GOOGL | 4.0 M | $661M | 5.12% | no change |
| 10 | Seaport Entertainment Group SEG | 2.1 M | $57.4M | 0.44% | from a spin-off |
| 11 | Seaport Entertainment Group | 2.1 M | $6.2M | 0.05% | new |
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Pershing Square's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.