Bill Ackman

Bill Ackman

Last Update: 05-16-2016

Number of Stocks: 9
Number of New Stocks: 1

Total Value: $8,853 Mil
Q/Q Turnover: 5%

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 (%)
201436.913.6923.2
20139.732.39-22.7
201213.316-2.7
3-Year Cumulative70.2 (19.4%/year)74.6 (20.4%/year)-4.4 (-1%/year)
2011-1.12.11-3.2
201029.715.0614.6
5-Year Cumulative118.3 (16.9%/year)105.1 (15.5%/year)13.2 (1.4%/year)
200940.626.4614.1
2008-13-3724.0
2007225.4916.5
200622.515.796.7
200539.94.9135.0
10-Year Cumulative458.2 (18.8%/year)109.4 (7.7%/year)348.8 (11.1%/year)
200442.610.8831.7

Top Ranked Articles

Bill Ackman Slashes Position in Zoetis Company's financial results have been struggling over the past 12 months
Guru Bill Ackman (Trades, Portfolio) and founder of Pershing Square Capital Management LP slashed his position in Zoetis Inc. (NYSE:ZTS) on May 9. Read more...
Bill Ackman Comments on Valeant Guru stock highlight
We have made material progress at Valeant (NYSE:VRX) since our last communication. Shortly after Steve Fraidin and I joined the board in March, the company launched a search process for a new CEO. On May 2nd, Joe Papa, formerly the Chairman and CEO of Perrigo (NYSE: PRGO), joined Valeant as its Chairman and CEO. We believe that Joe is an ideal choice for Valeant as he has extensive senior leadership experience in all aspects of the pharmaceutical industry, a strong reputation for integrity, and an excellent track record at Perrigo as reflected by the company’s 24% compounded annual return to shareholders during his tenure. Joe is passionate about the opportunity for value creation at Valeant, and we are excited to have him on board. Read more...
Bill Ackman Comments on Air Products and Chemicals Guru stock highlight
APD (NYSE:APD) delivered its seventh consecutive quarter of double-digit earnings-per-share (“EPS”) growth under the leadership of CEO Seifi Ghasemi, despite continued foreign exchange (“FX”) and other headwinds. In the first quarter of 2016 (APD’s fiscal 2Q), the company grew EPS by 17%, exceeding consensus estimates by a modest amount. Results were driven by a significant improvement in margins which increased 500 basis points (“bps”) during the quarter to 23.4%. Now halfway through its fiscal year, the company also increased annual EPS guidance modestly to $7.40 to $7.55 or 12% to 14% growth for Fiscal Year 2016. Read more...
Bill Ackman Comments on Canadian Pacific Railway Limited Guru stock highlight
On April 20th, CP (NYSE:CP) reported that first quarter revenue had declined 5%, as a result of the tepid macro-economic environment. On the earnings call, CP President Keith Creel highlighted that volumes will likely be down 6% for Q2, but that trends should improve in the second half of the year as comps get easier. Management expressed its view that Q2 will be the bottom for volumes and that the Canadian economy appears to be stabilizing. Read more...
Bill Ackman Comments on Fannie Mae and Freddie Mac Guru stock highlight
Fannie (FNMA)’s and Freddie (FMCC)’s underlying earnings continued to progress modestly in the core mortgage guarantee business as the guarantee fee rate increased and credit costs declined. In addition, the non-core investment portfolio continued to shrink, resulting in a less risky and more capital-light business model. While underlying earnings improved, reported earnings remained volatile due to non-cash, accounting-based derivative losses in the non-core investment portfolio. As a result of the derivative losses and the Net Worth Sweep, the companies are at risk of requiring a capital draw from Treasury to maintain a positive net worth. As a result, there recently have been a number of proposals from policymakers, trade groups, and industry analysts that seek to have the GSEs retain capital so they are capitalized on a standalone basis. Read more...
» More Bill Ackman Articles

Commentaries and Stories

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Bill Ackman Slashes Position in Zoetis Company's financial results have been struggling over the past 12 months Bill Ackman,George Soros,Vanguard Health Care Fund - Bill Ackman Slashes Position In Zoetis
Guru Bill Ackman (Trades, Portfolio) and founder of Pershing Square Capital Management LP slashed his position in Zoetis Inc. (NYSE:ZTS) on May 9. More...

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Bill Ackman Comments on Zoetis Inc. Guru stock highlight
Zoetis (NYSE:ZTS) is the only large, independent, publicly traded animal health company in the world. The company has a market capitalization of ~$23 billion and $5 billion in revenue. The Pershing Square funds currently own a 5.0% economic stake in the company, down from 8.6% as a result of a recent block sale. More...

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Bill Ackman Comments on Restaurant Brands International Guru stock highlight
Restaurant Brands (NYSE:QSR) reported another strong quarter of underlying earnings with its results for the first quarter of 2016. The company continues to deliver strong same-store-sales growth and net unit growth at both concepts and continues to improve Tim Hortons’ cost structure. More...

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Rating: 5.0/5 (2 votes)

Bill Ackman Comments on Platform Specialty Products Corp Guru stock highlight
Platform (NYSE:PAH) reported modestly improved underlying earnings due to strong cost synergies from its recent acquisitions, which were offset by weakness in several key end markets and an increase in corporate costs. Reported earnings were lower than the prior year due to significant headwinds from FX. Still, earnings beat expectations leading to a substantial increase in PAH’s stock price. More...

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Bill Ackman Comments on Nomad Guru stock highlight
Nomad (NYSE:NOMD)’s acquisitions of Iglo and Findus created the leading branded frozen foods business inEurope, ~2.7 times the next largest competitor. It is the market leader in the UK, Italy, Germany, France, Spain, and Sweden. The business is stable, high-margin, and cash-flow generative with low capex requirements and modest cash taxes. Nomad purchased both assets for a total of €3.3 billion or ~8 times EBITDA post-synergies. In 2015, pro forma revenue was €2.1 billion, with €345million EBITDA and €0.95 EPS ($1.06), excluding synergies which are currently estimated at €43 to €48 million. More...

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Rating: 5.0/5 (1 vote)

Bill Ackman Comments on Mondelez Guru stock highlight
We continue to believe that the opportunity for productivity improvement and margin expansion at Mondelez (NASDAQ:MDLZ) is significant. In February, the company announced a 2018 operating margin target of 17% to 18%. This target reflects some of the steps the company has taken over the last several years to improve its supply chain, reduce portfolio complexity, and rationalize overhead while increasing advertising and promotion. While we believe that the business is capable of higher margins, if Mondelez were to only achieve management’s target, the business would be worth significantly more than its current public market valuation. More...

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Bill Ackman Comments on Herbalife Guru stock highlight
On May 5th, Herbalife (NYSE:HLF) reported improved financial performance for the first quarter of the year and updated their regulatory disclosures as follows: More...

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Bill Ackman Comments on Herbalife Guru stock highlight
On May 5th, Herbalife (NYSE:HLF) reported improved financial performance for the first quarter of the year and updated their regulatory disclosures as follows: More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Bill Ackman Comments on Fannie Mae and Freddie Mac Guru stock highlight
Fannie (FNMA)’s and Freddie (FMCC)’s underlying earnings continued to progress modestly in the core mortgage guarantee business as the guarantee fee rate increased and credit costs declined. In addition, the non-core investment portfolio continued to shrink, resulting in a less risky and more capital-light business model. While underlying earnings improved, reported earnings remained volatile due to non-cash, accounting-based derivative losses in the non-core investment portfolio. As a result of the derivative losses and the Net Worth Sweep, the companies are at risk of requiring a capital draw from Treasury to maintain a positive net worth. As a result, there recently have been a number of proposals from policymakers, trade groups, and industry analysts that seek to have the GSEs retain capital so they are capitalized on a standalone basis. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Bill Ackman Comments on Canadian Pacific Railway Limited Guru stock highlight
On April 20th, CP (NYSE:CP) reported that first quarter revenue had declined 5%, as a result of the tepid macro-economic environment. On the earnings call, CP President Keith Creel highlighted that volumes will likely be down 6% for Q2, but that trends should improve in the second half of the year as comps get easier. Management expressed its view that Q2 will be the bottom for volumes and that the Canadian economy appears to be stabilizing. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Bill Ackman Comments on Air Products and Chemicals Guru stock highlight
APD (NYSE:APD) delivered its seventh consecutive quarter of double-digit earnings-per-share (“EPS”) growth under the leadership of CEO Seifi Ghasemi, despite continued foreign exchange (“FX”) and other headwinds. In the first quarter of 2016 (APD’s fiscal 2Q), the company grew EPS by 17%, exceeding consensus estimates by a modest amount. Results were driven by a significant improvement in margins which increased 500 basis points (“bps”) during the quarter to 23.4%. Now halfway through its fiscal year, the company also increased annual EPS guidance modestly to $7.40 to $7.55 or 12% to 14% growth for Fiscal Year 2016. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Bill Ackman Comments on Valeant Guru stock highlight
We have made material progress at Valeant (NYSE:VRX) since our last communication. Shortly after Steve Fraidin and I joined the board in March, the company launched a search process for a new CEO. On May 2nd, Joe Papa, formerly the Chairman and CEO of Perrigo (NYSE: PRGO), joined Valeant as its Chairman and CEO. We believe that Joe is an ideal choice for Valeant as he has extensive senior leadership experience in all aspects of the pharmaceutical industry, a strong reputation for integrity, and an excellent track record at Perrigo as reflected by the company’s 24% compounded annual return to shareholders during his tenure. Joe is passionate about the opportunity for value creation at Valeant, and we are excited to have him on board. More...

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Rating: 5.0/5 (1 vote)

Bill Ackman's 1st Quarter Letter to Shareholders Ackman updates on progress with holdings Bill Ackman - Bill Ackman's 1st Quarter Letter To Shareholders
Dear Shareholder: More...

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Bill Ackman Is Selling Zoetis but Other Gurus Are Jumping In Ackman cuts his second largest holding Bill Ackman - Bill Ackman Is Selling Zoetis But Other Gurus Are Jumping In
Bill Ackman (Trades, Portfolio) is said to be preparing to partially withdraw from pet health care company Zoetis (NYSE:ZTS) where he had waged an activist campaign, but first-quarter portfolios rolling in this month already show several other well-known managers have piled in. More...

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Valeant's Formation of Drug Pricing Committee Sends Shares Down 9% Stock plunged on news that may affect the company's growth strategy Bill Ackman - Valeant's Formation Of Drug Pricing Committee Sends Shares Down 9%
Valeant Pharmaceuticals (NYSE:VRX) fell 9% by mid-afternoon Friday after announcing a new pricing committee that may limit its torrid growth. More...

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Ackman Defends Valeant From Buffett, Munger Criticism Bill Ackman says Munger was wrong to indict Valeant on actions of people at top Bill Ackman,Warren Buffett,Charlie Munger - Ackman Defends Valeant From Buffett, Munger Criticism
Pershing Square CEO Bill Ackman (Trades, Portfolio) appeared on CNBC Monday to defend against the latest criticism of Valeant Pharmaceuticals (NYSE:VRX), this time from the most well-known value investors themselves, Warren Buffett (Trades, Portfolio) and Charlie Munger (Trades, Portfolio). More...

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Ackman to Testify About Valeant Before Senate Valeant names Joseph Papa of Perrigo as new CEO Bill Ackman - Ackman To Testify About Valeant Before Senate
Activist investor Bill Ackman (Trades, Portfolio) will testify before the Senate Special Committee on Aging Wednesday regarding his involvement with Valeant Pharmaceuticals (NYSE:VRX), along with outgoing CEO Michael Pearson, just a day after Joseph Papa of Perrigo (NYSE:PRGO) was announced as Pearson’s replacement. More...

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Why Bill Ackman Is Cutting Back on Canadian Pacific Exploring Ackman's motivation to reduce stake in railroad company Bill Ackman - Why Bill Ackman Is Cutting Back On Canadian Pacific
Bill Ackman (Trades, Portfolio) has been cutting back on Canadian Pacific (NYSE:CP) by selling a massive amount of shares as shown by GuruFocus' Real Time Picks. The move is somewhat surprising because on the recent quarterly call, the firm’s outlook was very bullish: More...

LONG, GURU, ACKMAN, RAILROADS,


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With Ackman Down It May Be Right Time to Back Him Pershing Square trades at a 10% discount, won't charge performance fees for awhile and manager has enviable track record Bill Ackman - With Ackman Down It May Be Right Time To Back Him
Pershing Square Holdings trades at a 10% discount to its NAV ($15.73 to $17.43). Historically, the discount has averaged around 5% since the IPO. The holding IPO’ed in 2014. More...

LONG, GURU, VALEANT,


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Canadian Pacific Ends Plans to Acquire Norfolk Southern Canadian Pacific investors can continue to expect gains Bill Ackman - Canadian Pacific Ends Plans To Acquire Norfolk Southern
This week Canadian Pacific (NYSE:CP) announced it would no longer be continuing its acquisition bid for Norfolk Southern (NYSE:NSC). After repeated refutes from Norfolk Southern, Canadian Pacific was preparing to bring the acquisition proposal to Norfolk Southern’s shareholders. More...

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