Bill Ackman

Bill Ackman

Last Update: 02-14-2017

Number of Stocks: 8
Number of New Stocks: 0

Total Value: $5,913 Mil
Q/Q Turnover: 15%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Bill Ackman' s Profile & Performance

Profile

William Ackman, co-investment manager for hedge-fund group Gotham Partners LP, formed Pershing Square in November 2003 with $54 million raised from three investors. Ackman got his start in the real estate business, where he worked for his father prior to starting Gotham.

Investing Philosophy

Bill Ackman is an activist investor. He buys the common stocks of public companies, and pushes for changes so that the market can realize the values of the companies. Ackman buys stocks trading at a discount, and sells when the companies reach their appraised value.

Total Holding History

Performance of Pershing Square, L.P.

YearReturn (%)S&P500 (%)Excess Gain (%)
2015-16.21.38-17.6
201436.913.6923.2
20139.732.39-22.7
3-Year Cumulative25.9 (8%/year)52.6 (15.1%/year)-26.7 (-7.1%/year)
201213.316-2.7
2011-1.12.11-3.2
5-Year Cumulative41 (7.1%/year)80.7 (12.6%/year)-39.7 (-5.5%/year)
201029.715.0614.6
200940.626.4614.1
2008-13-3724.0
2007225.4916.5
200622.515.796.7
10-Year Cumulative234.4 (12.8%/year)102.4 (7.3%/year)132 (5.5%/year)
200539.94.9135.0
200442.610.8831.7

Top Ranked Articles

Avoid Piggybacking The pitfalls of piggybacking fellow investors on investment ideas
I don’t know how many articles you’ve read about Valeant (VRX) in the past few weeks, but it’s probably safe to say too many. This article, you might be happy to hear, has very little to do with Valeant – mostly because I have nothing new or intelligent to say about the company (it’s buried deep in my “too hard” pile). Instead, it’s about following the lead of others when investing. Read more...
What Is Downside? A discussion of downside analysis and factors affecting the objectivity of downside analysis
One of the most quoted sayings in investing goes like this: “If you take care of the downside, the upside will take care of itself.” Read more...
Knowing When to Say 'When' As markets return to their previous highs, it might be the time to start looking for signs of investor overindulgence
In the winter of 1928, Joe Kennedy decided to stop to have his shoes shined before he started his day's work at the office. When the boy finished, he offered Kennedy a stock tip: "Buy Hindenburg." Kennedy soon sold off his stocks, thinking, "You know it's time to sell when the shoeshine boys start giving you stock tips. This bull market is over." Read more...
Bill Ackman Asks Charlie Munger to Be Nicer About Valeant New documents show correspondence between Ackman, Munger and Buffett
Some correspondence between Bill Ackman (Trades, Portfolio), a major Valeant (NYSE:VRX) shareholder, Warren Buffett (Trades, Portfolio) and Charlie Munger (Trades, Portfolio) surfaced this week in a slew of documents the U.S. Senate committee investigating drug price gouging has released. Read more...
An Attempt to Value Valeant Just for Fun When, and if, we have quality accounting numbers, here is how I see Valeant's value
Until last week, I had been just a casual observer of Valeant (NYSE:VRX). My knowledge of the company was limited to: Read more...
» More Bill Ackman Articles

Commentaries and Stories

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Bill Ackman Expands Chipotle Position, Cuts Zoetis Activist investor trims 3 positions in 4th quarter Bill Ackman, Carl Icahn, Frank Sands, Stanley Druc - Bill Ackman Expands Chipotle Position, Cuts Zoetis
Activist investor Bill Ackman (Trades, Portfolio), founder of Pershing Square Capital Management, buys the common stock of companies and pushes for changes so that the market can realize the values of these companies. Like fellow activist investor Carl Icahn (Trades, Portfolio), Ackman buys out-of-favor companies at a discount and sells them when the companies reach their appraised value. More...

BILL ACKMAN, CARL ICAHN, FRANK SANDS, STANLEY DRUCKENMILLER, ANDREAS HALVORSON


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Is Value Investing Dead? Is the traditional method of value investing no longer relevant? Bill Ackman,Seth Klarman - Is Value Investing Dead?
Value investing has changed significantly since the concept was conceived by Benjamin Graham more than 80 years ago. Today it’s tough to adopt the same style as Graham. The prevalence of financial information and stock screeners online has reduced the number of opportunities available, and investors have to be quick to take advantage of any market dislocations. More...

VALUE, VALUE INVESTING, VALUE STOCKS


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Ackman, Berkowitz May Not Get Their Fannie Mae Payout So Fast Under Trump Ackman said this week he is banking on reform under new administration Bill Ackman,Bruce Berkowitz - Ackman, Berkowitz May Not Get Their Fannie Mae Payout So Fast Under Trump
Bill Ackman (Trades, Portfolio), who has sued to release Fannie Mae (FNMA) and Freddie Mac (FMCC) from government conservatorship, said this week he has increased confidence that the Trump administration would ensure and hasten the reform of the government-sponsored entities, a move that would further enrich him and a number of his hedge and mutual fund peers. More...

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10 Questions With Value Investor T. Aaron Brown 'I'll sell my position for a loss, admitting I'm wrong, when an event materializes that was counter to my thesis' Joel Greenblatt,Bill Ackman - 10 Questions With Value Investor T. Aaron Brown
1. How and why did you get started investing? What is your background? More...

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Chipotle Could Be a 4-Bagger in 10 Years If company bounces back from E. coli outbreak, it could be poised for tremendous growth Bill Ackman - Chipotle Could Be A 4-Bagger In 10 Years
Chipotle Mexican Grill (NYSE:CMG) has been among the most successful fast food chains in recent years by providing differentiated high quality food served quickly in a good environment. More...

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US Retailers May Look Valuable, but Watch the Trap Holidays underscored how rapidly industry is changing Edward Lampert,Bill Ackman - US Retailers May Look Valuable, But Watch The Trap
After some poor holiday trading updates, investors have fled the U.S. retail sector in droves in the past few weeks extending the exodus from retail stocks that has been ongoing for around six months. More...

AMAZON, J C PENNY, SEARS, MACY’S, RETAIL, VALUE, VALUE INVESTING


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3 Rules for Successfully Investing Alongside Activists Tips to increase the odds of success Bill Ackman - 3 Rules For Successfully Investing Alongside Activists
Investing alongside activist investors can be a tantalizing proposition. There are few outright bargains in the market now and a company that is trading cheaply with a definite catalyst in an activist investor gaining control can be very appealing. We have invested alongside activists several times over the years. We have had our successes and failures, so we want to share three rules we have developed over time that we believe increase the odds of an investment alongside an activist being a success. More...

ACTIVIST, ACTIVIST INVESTORS, INVESTING RULES


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23 Questions With Value Investor Ari M. Eden 'I've always been a big admirer of Bill Ackman and remain one, despite his recent struggles' Warren Buffett,Bill Ackman - 23 Questions With Value Investor Ari M. Eden
1. How and why did you get started investing? What is your background? More...

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Technology Companies Among Strong Guru Ownership Stocks Part 2: A deeper analysis of the top 10 holdings of gurus Bill Ackman,Carl Icahn,Warren Buffett,Stanley Druc - Technology Companies Among Strong Guru Ownership Stocks
While all investment gurus seek long-term capital appreciation, not all gurus think identically. Some gurus invest in companies with a fundamental, value-oriented approach while other gurus, like Bill Ackman (Trades, Portfolio) and Carl Icahn (Trades, Portfolio), actively invest in distressed companies and generate value through company reforms. However, regardless of their investing approach, gurus usually invest in companies that offer high value potential to their fund and shareholders. More...

BILL ACKMAN, CARL ICAHN, WARREN BUFFETT, STANLEY DRUCKENMILLER, GEORGE SOROS, DAVID TEPPER, LOUIS MOORE BACON


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Bill Ackman Reduces Valeant Stake to Benefit Clients Investor bestows year-end gift to those who have stood by him Bill Ackman - Bill Ackman Reduces Valeant Stake To Benefit Clients
As another tumultuous year has wiped out nearly 85% of Valeant Pharmaceuticals’ market value, Bill Ackman (Trades, Portfolio), one of its biggest investors, sold some shares to give his clients a year-end tax break. More...

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Bill Ackman Comments on Herbalife Guru stock highlight
On November 1, 2016, Herbalife (NYSE:HLF) reported its third quarter financial results. Modest financial performance in the quarter, disappointing 2017 guidance and the unexpected announcement of a CEO transition caused the stock to decline. HLF stock has traded down more than 33% since the announcement of the company’s settlement with the FTC on July 15th, 2016, a 15% year-to-date decline, as investors have come to increasingly ignore the company’s fraudulent characterization of the FTC settlement. At its December 2, 2016, price of $47.99 per share, HLF currently trades at approximately the price at which we shorted the shares in 2012. More...

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Bill Ackman Comments on Nomad Guru stock highlight
Nomad (NYSE:NOMD) reported Q3 results in late November. More...

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Bill Ackman Comments on Platform Specialty Products Corp Guru stock highlight
In September, Platform (NYSE:PAH) hosted an investor day where it provided a detailed explanation of the secular growth drivers and unique competitive positioning of each of its Performance and Agricultural Solutions businesses, along with long-term guidance of 4% annual organic revenue growth and high-single digit annual EBITDA growth. More...

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Bill Ackman Comments on Valeant Pharmaceuticals International Guru stock highlight
Since our last update in August, Valeant (NYSE:VRX) has bolstered its management ranks, improved dermatology average selling prices (ASPs), stabilized its salesforces, and experienced acceleration in Salix script trends. Despite these positive developments, financial results continue to be challenged as certain unexpected events impacted Valeant in Q3 and weakness in Valeant’s U.S. Diversified Products segment continues to weigh on near- to medium-term earnings. More...

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Bill Ackman Comments on Fannie Mae and Freddie Mac Guru stock highlight
Fannie (FNMA) and Freddie (FMCC)’s underlying earnings continue to progress modestly in the core mortgage guarantee business, while the non-core investment portfolio continues to shrink to a smaller and appropriate level, resulting in a more profitable and lower-risk business model. The strength in underlying earnings growth reflects two factors: (1) an increase in guarantee fees as the fees on new mortgages exceed the average fees on the existing portfolio, and (2) lower credit losses as the portfolio’s credit quality has meaningfully improved since the financial crisis. More...

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Bill Ackman Comments on The Howard Hughes Corp Guru stock highlight
Net Operating Income (NOI) from HHC (NYSE:HHC)’s operating assets (consolidated and owned) decreased sequentially from $35.2 million to $31.3 million (and year-over-year from $31.9 million), largely due to headwinds in Houston that continue to negatively impact HHC’s owned hotels in Houston ($3.5 million sequential decline in hospitality NOI). HHC held steady its projected stabilized annual NOI estimate (which excludes the South Street Seaport) of $215 million and kept constant its estimated stabilized hospitality NOI levels. Land sales in its Master Planned Community (MPC) segment decreased from $59 million to $32 million year-over-year in Q3 and sequentially from $34 million due primarily to a $27 million reduction in commercial sales from Q3 2015. More...

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Bill Ackman Comments on Restaurant Brands International Guru stock highlight
QSR (NYSE:QSR) reported strong results by executing on its three key growth drivers: same store sales, net unit growth, and operational efficiency. In the third quarter, the company generated 2% same store sales growth in its Burger King and Tim Hortons concepts. While same store sales growth has decelerated over the last few quarters, it is still at a healthy overall level. Strong international growth was partially offset by weaker U.S. performance at Burger King where same store sales declined 0.5%. The decline in the U.S. is partially due to a tough comparison with last year’s quarter’s 5% growth, but also reflects a more difficult industry environment as the recent decline in food costs has widened the price gap between restaurant and grocery to historically high levels, resulting in lower restaurant traffic. More...

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Bill Ackman Comments on Air Products Guru stock highlight
Air Products’ (NYSE:APD) fiscal year fourth quarter earnings per share of $2.01 increased 10% over the prior year. This strong performance was driven by a 260 basis point increase in operating margins. This quarter marked the ninth straight quarter of double-digit EPS growth since Seifi Ghasemi joined Air Products as its CEO. More...

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Bill Ackman Comments on Mondelez Guru stock highlight
On October 26, Mondelez (NASDAQ:MDLZ) reported third quarter 2016 results. Underlying organic growth was generally in-line with the company’s categories at nearly 2%, including volume growth of 1.3%. This was the third straight quarter of positive underlying volume growth and a sequential acceleration from the second quarter. We note that Mondelez is one of the few large cap packaged food companies that is demonstrating any underlying volume growth, however modest. While the global growth rate of Mondelez’s snacking categories has moderated over the course of the year primarily due to macroeconomic headwinds, we continue to believe that the long-term outlook for these categories remains robust, especially in the emerging markets where Mondelez has large market shares and robust routes to market. More...

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Bill Ackman Comments on Chipotle Mexican Grill Guru stock highlight
On September 6th, we announced a 9.9% stake in Chipotle Mexican Grill (NYSE:CMG) which we purchased at an average price of $405 per share. Chipotle has built a superb brand pioneering the “fast casual” restaurant industry with the success of its outstanding product offering, unique culture and powerful economic model. We have followed the business for years, noting how it has disrupted the fast food industry with its high quality, delicious and customizable hot meals that are prepared quickly and sold at affordable prices. The company has been significantly negatively impacted by food safety issues beginning in the fourth quarter of 2015 which caused a peak decline in average unit sales of 36%. In response, the company has implemented best-in-class food safety protocols over the past year, and worked to win back lost customers. While traffic and sales have begun to recover, average unit volumes are still 19% below peak levels. More...

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