Pershing Square Capital Management
Pershing Square Capital Management is a concentrated, research-intensive, fundamental value investor in the public markets. Founded in 2004 by legendary activist investor Bill Ackman, the hedge fund offers portfolio management and consulting services to private investment funds. The firm focuses on buying significant stakes in companies, aiming to drive change by influencing management decisions and corporate strategies. Pershing Square's stock portfolio is often concentrated in just seven companies, including Chipotle, Hilton and Google parent Alphabet.
INVESTMENT PHILOSOPHY
Pershing Square often buys significant stakes in companies, aiming to drive change by influencing management decisions and corporate strategies.
Concentration.
Unlike many hedge funds that diversify widely, Pershing Square typically concentrates its investments in a smaller number of companies, believing that this approach allows for better focus and deeper analysis.
NOTABLE INVESTMENTS
Target.
Ackman invested heavily, advocating for changes in management and strategy, leading to improved performance and governance.
Herbalife.
Ackman took a controversial short position, alleging it was a pyramid scheme. This led to a public battle with other investors and significant media attention.
Chipotle.
Pershing Square has made a substantial investment, pushing for operational improvements and a stronger focus on food quality and customer service.
Lowe's.
The firm acquired a stake, working with management to enhance performance and streamline operations.