- Pershing Square Capital founder Bill Ackman consolidated his portfolio in the second quarter by boosting stakes in Restaurant Brands and Lowe’s and cutting out Berkshire Hathaway stock.
- The fund scooped up more than 10 million more shares of the Burger King-parent last quarter, bringing its total stake to 25.1 million shares collectively worth $US1.4 billion, according to an SEC filing.
- Lowe’s remains Pershing Square’s biggest bet. The position swelled by roughly 450,000 shares to 12.7 million, worth roughly $US1.7 billion.
- Ackman also dumped millions of shares over the three-month period. He completely exited positions in Berkshire Hathaway, Park Hotels & Resorts, and Blackstone.
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His firm Pershing Square Capital bought more than 10 million more shares of Burger King-parent Restaurant Brands over the three-month period. Ackman’s stake in the company now totals 25.1 million shares collectively worth roughly $US1.4 billion.
Pershing Square’s position in Lowe’s swelled by more than 450,000 shares to about 12.7 million shares. The position is worth $US1.7 billion.
Ackman slimmed down other positions through the quarter. The hedge fund manager completely exited his 5.5 million-share stake in Berkshire Hathaway after opening the position roughly one year ago. Pershing Square also dumped its 549,000-share stake in Blackstone and its 678,000-share position in Park Hotels & Resorts.
Ackman trimmed Pershing Square’s holding of real estate developer Howard Hughes to roughly 10.9 million shares from 12.2 million.
Lowe’s remains Ackman’s largest stock position by value, with Restaurant Brands now following close behind. His stake in Howard Hughes is now his smallest after shrinking the number of names represented in Pershing Square’s portfolio.
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