Bill Ackman – Portfolio Update – Q2 2024
Bill Ackman, the prominent activist investor and founder of Pershing Square Capital Management, known for his high-profile bets and vocal market commentary, has revealed his fund’s portfolio positions for Q2 2024. Ackman added two new stocks during this period, This marks a significant change for Ackman’s portfolio, which is usually characterized by low turnover, and represents the first time he has opened new positions since Q1 2023.
Bill Ackman’s Portfolio Holdings and New Positions by Quarter
As the chart shows, in the four quarters leading up to Q2 2024, Ackman made only one change by selling Lowe’s Companies Inc. ($LOW) in Q1 2024, while primarily focusing on adjusting the size of his existing portfolio holdings.
New Additions
- Brookfield Corp ($BN): Acquired 6,854,510 shares, representing 2.73% of the portfolio and valued at approximately $285 million. Brookfield is a global alternative asset manager with over $800 billion in assets across real estate, infrastructure, renewable energy, and private equity.
- Nike Inc ($NKE): Added 3,040,132 shares, constituting about 2.2% of the portfolio with a total value of $229 million. For context, following the release of its Q4 results in late June 2024, Nike’s stock price plummeted by nearly 20% after the company projected a decline in sales for its new fiscal year, marking its largest single-day drop in over two decades. Ackman likely views Nike’s recent struggles as a temporary setback for a strong brand, similar to his approach with Chipotle, where he capitalized on a turnaround opportunity.
Significant Reductions
The hedge fund manager made substantial cuts to some of his largest holdings:
- Chipotle Mexican Grill ($CMG): Reduced position by 22.54%, selling 8,384,035 shares. This move had a -4.53% impact on the portfolio.
- Alphabet Inc ($GOOG/GOOGL): Decreased holdings by 19.51% for Class C shares and 8.46% for Class A shares, selling a total of 2,197,949 shares.
Current Portfolio Composition
Source: SEC Filings
This article is for informational purposes only and is neither investment advice nor a solicitation to buy or sell securities. All investment involves inherent risks, including the total loss of principal, and past performance is not a guarantee of future results. Always conduct thorough research or consult with a financial expert before making any investment decisions. BBAE has no position in any investment mentioned.
