Pershing Square Capital Management, L.P.

Top Holdings6 positions

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Activity:AllNewIncreasedDecreasedExitedUnchangedFirst report

Stock	Shares	Value	Weight	Price Trend	Avg Buy	Est. P&L	Held	Conviction
LOW Lowe's Cos Inc	10.4M	$1.9B	24.7%	—	$82.80	+109.35%	16 qtrssince 2018-Q4	Increased 66
CMG Chipotle Mexican Grill Inc	1.1M	$1.7B	21.1%	—	$9.35	+221.56%	16 qtrssince 2018-Q4	Unchanged 0
QSR Restaurant Brands Internationa	24.2M	$1.3B	16.3%	—	$42.95	+13.53%	16 qtrssince 2018-Q4	Increased 66
HLT Hilton Worldwide Holdings Inc	10M	$1.2B	15.4%	—	$70.38	+71.38%	16 qtrssince 2018-Q4	Increased 66
??Canadian Pacific Railway Ltd	15.2M	$1B	12.9%	—	—	—	4 qtrssince 2021-Q4	Increased 100
HHC Howard Hughes Corp/The	13.6M	$754.4M	9.6%	—	—	—	16 qtrssince 2018-Q4	Unchanged 0

$7.9B

Reported value

6

Positions

Q3 2022

Filing

HI score · 1.0/5

Quarterly 13F Value Change

Activity profile

$ moved · Q3'22

New0%Increased59%Decreased0%Exited41%

Composition

Equity vs derivatives

Equity100%Puts0%Calls0%

Holding period

Avg 3.3 years

<1Q0%1-4Q17%1-2Y0%2Y+83%

Pershing Square Capital Management, L.P. reported holdings worth $7.9B across 6 positions as of Q3 2022. Top holdings: LOW (24.7%), CMG (21.1%), QSR (16.3%). Fund DNA: Concentrated Value. HoldingsIntel Score: 1/5.0.

Position Outcomes

Best and worst performing positions by estimated return

Top Winners

CMG16Q held

Chipotle Mexican Grill Inc

Avg $9.35 · $22.9M est. P&L

—

Est. P&L

+221.56%

LOW16Q held

Lowe's Cos Inc

Avg $82.80 · $939.3M est. P&L

—

Est. P&L

+109.35%

HLT16Q held

Hilton Worldwide Holdings Inc

Avg $70.38 · $504M est. P&L

—

Est. P&L

+71.38%

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