Pershing Square Capital Management, L.P.

Top Holdings8 positions

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Activity:AllNewIncreasedDecreasedExitedUnchangedFirst report

Stock	Shares	Value	Weight	Price Trend	Avg Buy	Est. P&L	Held	Conviction
LOW LOWES COS INC	10M	$2B	19.6%	—	$82.80	+125.27%	18 qtrssince 2018-Q4	Decreased 0
CMG CHIPOTLE MEXICAN GRILL INC	1M	$1.8B	17.2%	—	$9.35	+265.54%	18 qtrssince 2018-Q4	Decreased 0
QSR RESTAURANT BRANDS INTL INC	24.2M	$1.6B	15.9%	—	$42.95	+38.49%	18 qtrssince 2018-Q4	Unchanged 0
HLT HILTON WORLDWIDE HLDGS INC	9.3M	$1.3B	12.8%	—	$70.38	+93.74%	18 qtrssince 2018-Q4	Decreased 0
HHC HOWARD HUGHES CORP	16M	$1.3B	12.5%	—	—	—	18 qtrssince 2018-Q4	Increased 65
??CANADIAN PAC RY LTD	15.2M	$1.2B	11.5%	—	—	—	6 qtrssince 2021-Q4	Increased 65
GOOG ALPHABET INC	8.1M	$839.3M	8.2%	—	$100.57	0.00%	1 qtr	New 100
GOOGL ALPHABET INC	2.2M	$226.7M	2.2%	—	$100.13	0.00%	1 qtr	New 82

$10.2B

Reported value

8

Positions

Q1 2023

Filing

HI score · 1.0/5

Quarterly 13F Value Change

Activity profile

$ moved · Q1'23

New71%Increased7%Decreased22%Exited0%

Composition

Equity vs derivatives

Equity100%Puts0%Calls0%

Holding period

Avg 2.8 years

<1Q25%1-4Q0%1-2Y13%2Y+63%

Pershing Square Capital Management, L.P. reported holdings worth $10.2B across 8 positions as of Q1 2023. Top holdings: LOW (19.6%), CMG (17.2%), QSR (15.9%). Fund DNA: Concentrated Value. HoldingsIntel Score: 1/5.0.

Position Outcomes

Best and worst performing positions by estimated return

Top Winners

CMG18Q held

CHIPOTLE MEXICAN GRILL INC

Avg $9.35 · $25.5M est. P&L

—

Est. P&L

+265.54%

LOW18Q held

LOWES COS INC

Avg $82.80 · $1B est. P&L

—

Est. P&L

+125.27%

HLT18Q held

HILTON WORLDWIDE HLDGS INC

Avg $70.38 · $613.5M est. P&L

—

Est. P&L

+93.74%

Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.