Bill Ackman

Bill Ackman

Last Update: 08-14-2017

Number of Stocks: 7
Number of New Stocks: 1

Total Value: $6,015 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 (%)
2016-9.611.96-21.6
2015-16.21.38-17.6
201436.913.6923.2
3-Year Cumulative3.7 (1.2%/year)29 (8.9%/year)-25.3 (-7.7%/year)
20139.732.39-22.7
201213.316-2.7
5-Year Cumulative28.9 (5.2%/year)98.2 (14.7%/year)-69.3 (-9.5%/year)
2011-1.12.11-3.2
201029.715.0614.6
200940.626.4614.1
2008-13-3724.0
2007225.4916.5
10-Year Cumulative146.7 (9.5%/year)95.7 (6.9%/year)51 (2.6%/year)
200622.515.796.7
200539.94.9135.0
200442.610.8831.7

Top Ranked Articles

Bill Ackman Has Had Enough Precipitous Declines for One Stock, Sells Valeant Pershing Square lets go of 18 million Valeant shares
After preparing everyone for a different sell by filing a prospectus to unload Chipotle (NYSE:CMG) last week, Bill Ackman (Trades, Portfolio) exited his entire stake in Valeant Pharmaceuticals (NYSE:VRX), a stock that has haunted his returns and contributed to the worst year in his fund’s history. Read more...
Bill Ackman Is Back to Black Pershing returns exceed one percent for the first time in almost two years with Valeant gone
Bill Ackman (Trades, Portfolio), head of Pershing Square Capital Management, may be seeing the beginning of pull out of a long slog that submerged his fund for months. Read more...
The Other Top Investors Who Love & Hate Bill Ackman's Next Target, Chipotle Gurus bounced in and out as the food poisoning story unfolded
Bill Ackman (Trades, Portfolio) purchased a 9.9% stake in Chipotle (NYSE:CMG) last week with intent to push for changes. While the investing world has largely bemoaned his involvement after a string of misadventures with stocks such as Valeant Pharmaceuticals (NYSE:VRX), some other managers of big funds hopped in and out of the Chipotle boat last quarter after its widespread food poisoning scare. Read more...
Warren Buffett's Financial Engineering For decades Buffett used borrowed money and this strategy to crush the market
Investors often overlook the financial engineering that Warren Buffett (Trades, Portfolio) has employed throughout the years that helped build his personal fortune and the book value of Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B). Read more...
Thoughts on Chipotle Mexican Grill's Earnings The stock is still a bargain
Chipotle Mexican Grill Inc. (NYSE:CMG) just released earnings after the closing bell on Wall Street and the numbers were better than expected. The stock is up over $10 in after-hours trading thanks to an earnings beat; however, revenue was soft and comps were 8.1% lower than expected. After 16 years, I have seen companies release numbers like this only to pull back to the closing price and actually open down the next day. Read more...
» More Bill Ackman Articles

Commentaries and Stories

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Bill Ackman Comments on Hilton Worldwide Holdings Guru stock highlight
During the quarter we exited our previously undisclosed passive investment in Hilton Worldwide Holdings (NYSE:HLT) at a 32% profit versus our cost over an 11-month holding period. Our approach to disclosure is to provide to you the information that we would want if our positions were reversed; that is, if you were the investment manager and we were the client, with the caveat that we do not disclose information that would create a competitive disadvantage for the funds unless we are legally required to do so. We did not disclose our investment in Hilton until we disposed of it for this reason. More...

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Bill Ackman Comments on Herbalife Guru stock highlight
On Monday, August 14, 2017, Chinese media outlets reported that the Chinese government has launched an investigation and crackdown on multi-level marketing and pyramid selling companies. HLF (NYSE:HLF)’s stock declined 5.25% on the day’s news. As we previously noted in our first quarter letter, Herbalife updated its risk-factor disclosures in its first quarter 10Q, adding new language about regulatory risk in China. China is approximately 20% of Herbalife’s revenues. A substantial decline or shutdown of HLF’s China business would have a material adverse effect on the company. More...

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Bill Ackman Comments on Fannie Mae, Freddie Mac Guru stock highlight
Fannie and Freddie (FNMA)(FMCC) have cost us substantial performance this year as their large share price gains after the November U.S. Presidential election have nearly completely retraced. Both stocks have fallen by approximately 30% year-to-date. They are trading modestly above our average purchase prices of nearly four years ago despite substantial increases in intrinsic value since that time (albeit these increases have been offset by a nearly 100% sweep of the profits of both companies by the U.S. government), and the growing potential for a resolution of their status. More...

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Bill Ackman Comments on Nomad Foods Limited Guru stock highlight
Nomad (NYSE:NOMD) continues to make significant progress with its “focus on the core” strategy under CEO Stefan Descheemaker. In Q1 2017 Nomad delivered its first quarter of positive top-line growth and the sixth consecutive quarter of sequential improvement in sales trends. For the quarter, like-for-like sales growth was +1.1% despite a ~100 basis points headwind from this year’s later Easter timing. More...

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Bill Ackman Comments on Platform Specialty Products Corp Guru stock highlight
Platform (NYSE:PAH) reported strong earnings this quarter due to continued organic revenue growth and positive results from its ongoing cost savings initiatives. Platform’s organic revenue increased 2%, as Performance Solutions grew 6% and Ag Solutions declined 2%. The growth in the Performance Solutions segment was due primarily to the positive results of the electronics business it recently acquired from Alent and strength in its industrial business. The modest decline in Ag Solutions resulted from poor weather conditions in Eastern Europe and the restructuring of its business in Africa. Ag Solutions reported positive growth in all of its key regions outside of Eastern Europe and Africa. More...

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Bill Ackman Comments on Air Products and Chemicals Guru stock highlight
APD (NYSE:APD) continues to deliver strong results for its shareholders. On July 27, 2017, the company reported that Fiscal Q3 earnings per share grew 15%, driven by 8% revenue growth from increased volumes and 90 basis points of underlying margin expansion. Revenue growth was driven by organic growth and contributions from new plants coming on stream. Margin performance reflects continued operating efficiencies. Management has stated that they “have more work to do on productivity” and that “they continue to see productivity opportunities.” Equipment sales, which are more episodic, added to APD’s strong performance. More...

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Bill Ackman Comments on Chipotle Guru stock highlight
Although Chipotle (NYSE:CMG) has made significant progress in improving its business and driving a sales recovery since early 2016, the company suffered an unfortunate setback in mid-July in the form of a norovirus incident at a single restaurant in Virginia. Norovirus is a common and highly contagious illness affecting nearly 20 million Americans each year and is unrelated to Chipotle’s food supply chain. The incident in Virginia was the result of a failure in one restaurant to comply with the company’s procedures used to minimize the risk of a norovirus outbreak. While Chipotle has already implemented a robust and advanced food safety program, the company will continue to build a culture of compliance in its operations through relentless training and enforcement of its policies. More...

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Bill Ackman Comments on Howard Hughes Guru stock highlight
Howard Hughes (NYSE:HHC) initiated an effort this year to increase visibility and transparency into its business. HHC started conducting quarterly conference calls and releasing a quarterly supplemental information package, which provides investors and analysts with additional detailed data about its business. HHC conducted its first ever Investor Day on May 17, 2017 at the South Street Seaport in New York City. Pershing Square also presented Howard Hughes at the Sohn Conference on May 8, 2017 in a presentation entitled SimCities. We believe that the increased transparency will showcase the significant underlying value at HHC over time. More...

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Bill Ackman Comments on Automatic Data Procession Guru stock highlight
Restaurant Brands reported continued earnings growth for the second quarter of 2017. The company delivered strong net unit growth at each of its three brands and significantly improved Popeyes’ cost structure in its first full quarter of ownership. Same-store-sales growth was mixed, as Burger King returned to growth and Tim Hortons results modestly declined. More...

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Bill Ackman Comments on Automatic Data Procession Guru stock highlight
Automatic Data Processing, Inc. (NASDAQ:ADP) More...

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Bill Ackman's 2nd Quarter Letter to Shareholders From Pershing Square Ackman discusses holdings and difficult quarter Bill Ackman - Bill Ackman's 2nd Quarter Letter To Shareholders From Pershing Square
Investment Manager’s Report More...

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Bill Ackman Bets Big on Automatic Data Processing Guru invests in over 36 million shares Bill Ackman - Bill Ackman Bets Big On Automatic Data Processing
Bill Ackman (Trades, Portfolio), founder of Pershing Square, invested in 36,803,675 shares of Automatic Data Processing Inc. (NASDAQ:ADP) for $105.98 per share on July 26 according to GuruFocus real-time picks. More...

BILL ACKMAN


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Dislocations Create Fine Opportunities Hedge fund manager David Einhorn has found long and short opportunities by using multiple forms of analysis to identify gaps between intrinsic value and market value David Einhorn, Bill Ackman, Warren Buffett - Dislocations Create Fine Opportunities
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GURUS, DAVID EINHORN, GREENLIGHT CAPITAL, GREENLIGHT CAPITAL RE, VALUE INVESTING, FUNDAMENTAL ANALYSIS, PSYCHOLOGY, LIQUIDITY ANALYSIS, TECHNICAL ANALYSIS,


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Chipotle Rises 2.54% on Strong Comparable Restaurant Sales Growth in 2nd Quarter Company expects improving operations in the upcoming quarters Bill Ackman - Chipotle Rises 2.54% On Strong Comparable Restaurant Sales Growth In 2nd Quarter
Chipotle Mexican Grill Inc. (NYSE:CMG), a major fast-casual restaurant, reported double-digit revenue growth during the quarter ending June 30. More...

BILL ACKMAN


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Thoughts on Chipotle Mexican Grill's Earnings The stock is still a bargain Bill Ackman, Ruane Cunniff - Thoughts On Chipotle Mexican Grill's Earnings
Chipotle Mexican Grill Inc. (NYSE:CMG) just released earnings after the closing bell on Wall Street and the numbers were better than expected. The stock is up over $10 in after-hours trading thanks to an earnings beat; however, revenue was soft and comps were 8.1% lower than expected. After 16 years, I have seen companies release numbers like this only to pull back to the closing price and actually open down the next day. More...

CHIPOTLE, MEXICAN FOOD, FAST CASUAL


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Bill Ackman Misses First Half 2017 Gain, Hurt by Herbalife The investor had almost every stock gain, but Herbalife short soared Bill Ackman - Bill Ackman Misses First Half 2017 Gain, Hurt By Herbalife
In spite of a spirited performance in almost all of his holdings, Bill Ackman (Trades, Portfolio)’s Pershing Square portfolio missed a gain year to date mainly on the rally of his short position in Herbalife Ltd. (NYSE:HLF), according to his June report. More...

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Bill Ackman Comments on Herbalife Ltd. Guru stock highlight
Herbalife Ltd. (NYSE:HLF) Short More...

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Bill Ackman Comments on Nomad Foods Guru stock highlight
Nomad Foods (NYSE:NOMD) has begun to show meaningful progress in stabilizing its revenue trends under its new management team. Nomad’s initial revenue trends after its mid-2015 purchase of the Iglo asset were disappointing because of prior management’s investment in new product development at the expense of the company’s core offerings. The company’s current management led by Stefan Descheemaeker has redirected its resources behind core offerings or Must Win Battles (“MWBs”). While this strategy shift will take time to have full effect, recent results have been encouraging. More...

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Bill Ackman Comments on Platform Specialty Products Corp Guru stock highlight
Platform (NYSE:PAH) reported strong earnings growth for the first quarter. The company generated organic EBITDA growth of 18%, due to revenue growth in both of its businesses and improved cost efficiencies, both at the segment and corporate level. Organic revenue growth was 3%, due to 5% organic growth in Performance Solutions and 2% organic growth in Agricultural Solutions. Performance Solutions showed particular strength this quarter in its industrial and Asian electronics segments, as its end markets have improved and the integration of Alent has helped Platform gain market share. Agricultural Solutions growth was driven by strength in Latin America, but offset somewhat by weakness in Europe due to poor weather. More...

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Bill Ackman Comments on Fannie Mae and Freddie Mac Guru stock highlight
Fannie and Freddie’s (FNMA)(FMCC) underlying earnings in their core mortgage guarantee businesses declined modestly in the first quarter, reflecting lower refinancing volumes driven by a large increase in interest rates in the fourth quarter of 2016. Despite this short-term, cyclical headwind, we believe that their long-term earnings power will continue to grow due to three factors: (1) an increase in guarantee fees as the fees on new mortgages exceed the average fees on the existing portfolio, (2) growth of the total guarantee portfolio along with mortgage originations, and (3) lower credit losses as the portfolio’s credit quality continues to improve. Fannie and Freddie’s non-core investment portfolio continued to shrink in the first quarter, resulting in a more profitable and lower-risk business model. More...

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