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
CMG CHIPOTLE MEXICAN GRILL INC	953,608	$2B	18.9%	—	$9.35	+357.71%	19 qtrssince 2018-Q4	Decreased 0
QSR RESTAURANT BRANDS INTL INC	23.3M	$1.8B	16.7%	—	$42.95	+64.59%	19 qtrssince 2018-Q4	Decreased 0
LOW Lowes Companies, Inc.	7.5M	$1.7B	15.6%	—	$82.80	+155.52%	19 qtrssince 2018-Q4	Decreased 0
HLT Hilton Worldwide Holdings Inc	9.3M	$1.4B	12.6%	—	$70.64	+102.31%	19 qtrssince 2018-Q4	Increased 65
HHC HOWARD HUGHES CORP	16.6M	$1.3B	12.1%	—	—	—	19 qtrssince 2018-Q4	Increased 67
CP Canadian Pacific Kansas City Ltd.	15.1M	$1.2B	11.3%	—	$78.01	0.00%	1 qtr	New 100
GOOG Alphabet Inc.	9.4M	$1.1B	10.5%	—	$103.16	+15.48%	2 qtrssince 2023-Q1	Increased 75
GOOGL Alphabet Inc.	2.2M	$261.5M	2.4%	—	$100.13	+18.06%	2 qtrssince 2023-Q1	Unchanged 0

$10.8B

Reported value

8

Positions

Q2 2023

Filing

HI score · 1.0/5

Quarterly 13F Value Change

Activity profile

$ moved · Q2'23

New34%Increased10%Decreased22%Exited33%

Composition

Equity vs derivatives

Equity100%Puts0%Calls0%

Holding period

Avg 2.9 years

<1Q13%1-4Q25%1-2Y0%2Y+63%

Pershing Square Capital Management, L.P. reported holdings worth $10.8B across 8 positions as of Q2 2023. Top holdings: CMG (18.9%), QSR (16.7%), LOW (15.6%). Fund DNA: Concentrated Value. HoldingsIntel Score: 1/5.0.

Position Outcomes

Best and worst performing positions by estimated return

Top Winners

CMG19Q held

CHIPOTLE MEXICAN GRILL INC

Avg $9.35 · $31.9M est. P&L

—

Est. P&L

+357.71%

LOW19Q held

LOWES COS INC

Avg $82.80 · $961.7M est. P&L

—

Est. P&L

+155.52%

HLT19Q held

HILTON WORLDWIDE HLDGS INC

Avg $70.64 · $674.5M est. P&L

—

Est. P&L

+102.31%

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