Bill Ackman

Bill Ackman

Last Update: 03-13-2018

Number of Stocks: 7
Number of New Stocks: 1

Total Value: $5,873 Mil
Q/Q Turnover: 13%

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

Acting With Imperfect Knowledge Dealing with short-term market volatility and the noise of quarterly results
During a speech at the University of Florida in 1998, Warren Buffett (Trades, Portfolio) was asked for his thoughts on the stock market. His answer has always stuck with me: Read more...
The Stocks Maiming Bill Ackman's Fumbling Portfolio Investors flee on more performance woes
Investors in Bill Ackman (Trades, Portfolio)’s Pershing Square scattered this month as the firm slid further in March, giving him a negative return of 8.2% for the quarter as most of his positions show lackluster performance rather than fizzle. 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...
Big Buys of the Week: Ackman and Icahn Two gurus announce substantial unreported buys
Two heavy-hitting investors disclosed this week that they are building positions that have not yet hit Securities and Exchange Commission filings. Read more...
Restaurant Industry Shows Signs of Sizzle 'Fast casual' and 'fast fine' are the industry's new buzzwords
The restaurant industry is seeing signs of sizzle after some of the worst sales results in years. Read more...
» More Bill Ackman Articles

Commentaries and Stories

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The Stocks Maiming Bill Ackman's Fumbling Portfolio Investors flee on more performance woes Bill Ackman - The Stocks Maiming Bill Ackman's Fumbling Portfolio
Investors in Bill Ackman (Trades, Portfolio)’s Pershing Square scattered this month as the firm slid further in March, giving him a negative return of 8.2% for the quarter as most of his positions show lackluster performance rather than fizzle. More...

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Usana Drove Out the Shorts. Now What? Value investors should watch its moat and its share price Bill Ackman,Chuck Royce - Usana Drove Out The Shorts. Now What?
When I previously wrote about Usana Health Sciences Inc. (NYSE:USNA) in July 2014, I asked if you (investors) would bet on this multi-level marketing company—or on the short sellers. At that time, there was a lot of short interest, 35.5%, despite the stock being found on three GuruFocus screens: Undervalued Predictable, Buffett-Munger and Peter Lynch. More...

USANA, USANA HEALTH SCIENCES, MULTI-LEVEL MARKETING, SHORT SELLERS, SHORTS, MLM, UNDERVALUED PREDICTABLE, BUFFETT-MUNGER, PETER LYNCH, CITRON RESEARCH, BILL ACKMAN, HERBALIFE, NUTRICEUTICALS, MACPHERS


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Bill Ackman Reduces Holding in ADP Stock is up, but Ackman lost proxy contest Bill Ackman - Bill Ackman Reduces Holding In ADP
Bill Ackman (Trades, Portfolio) of Pershing Square reduced his stock position in payments services company Automatic Data Processing Inc. (NASDAQ:ADP) by 9.7% on March 12, a Monday filing showed. More...

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Bill Ackman's 2017 Shareholder Letter 'While the overall record is satisfactory for early investors, it has been very disappointing for PSH investors' Bill Ackman - Bill Ackman's 2017 Shareholder Letter
Dear Pershing Square Investor, More...

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Big Buys of the Week: Ackman and Icahn Two gurus announce substantial unreported buys Carl Icahn,Bill Ackman - Big Buys Of The Week: Ackman And Icahn
Two heavy-hitting investors disclosed this week that they are building positions that have not yet hit Securities and Exchange Commission filings. More...

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Ackman Ends 5-Year Battle With Herbalife Stock hits record high Bill Ackman - Ackman Ends 5-Year Battle With Herbalife
Five years was long enough for Bill Ackman (Trades, Portfolio) to decide that Herbalife may not go to zero as he expected. More...

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Ackman Buys Nike Also acquires more Mondelez Bill Ackman - Ackman Buys Nike
Bill Ackman (Trades, Portfolio) reported Wednesday that he made only one new buy, Nike Inc., and increased his holding of Mondelez International Inc. (NASDAQ:MDLZ) in the fourth quarter. More...

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Acting With Imperfect Knowledge Dealing with short-term market volatility and the noise of quarterly results Bill Ackman - Acting With Imperfect Knowledge
During a speech at the University of Florida in 1998, Warren Buffett (Trades, Portfolio) was asked for his thoughts on the stock market. His answer has always stuck with me: More...

LONG FOX, FOXA, AND CMG


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Do You Follow These Rules to Succeed in the Stock Market? One of my favorite speeches that I end up reading every year is by Mark Sellers. But here’s my version of converting the traits in the speech to rules so that it can be applied by anyone Bill Ackman,John Paulson - Do You Follow These Rules To Succeed In The Stock Market?
You’ve got rules that you follow and so do I. More...

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Restaurant Industry Shows Signs of Sizzle 'Fast casual' and 'fast fine' are the industry's new buzzwords Joel Greenblatt,Bill Ackman - Restaurant Industry Shows Signs Of Sizzle
The restaurant industry is seeing signs of sizzle after some of the worst sales results in years. More...

FOOD, DINING, RESTAURANTS, FAST CASUAL, DELIVERY, TAKEOUT


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Bill Ackman Trims Position in Howard Hughes Guru real-time pick highlight Bill Ackman - Bill Ackman Trims Position In Howard Hughes
Bill Ackman (Trades, Portfolio), founder of Pershing Square Capital Management L.P., trimmed his position in The Howard Hughes Corp. (NYSE:HHC) on Jan. 2, according to GuruFocus real-time picks. More...

BILL ACKMAN


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Bill Ackman Logs Third Consecutive Down Year Herbalife, Chipotle vex investor Bill Ackman - Bill Ackman Logs Third Consecutive Down Year
Ackman’s investments at Pershing Square Capital Management LP posted negative returns for the third straight year in 2017, according to fund documents. More...

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CEO Steps Down at Ackman’s Chipotle Market, Ackman respond positively Bill Ackman - CEO Steps Down At Ackman’s Chipotle
Chipotle (NYSE:CMG) CEO Steve Ells announced Nov. 29 that he would step down at the company he founded in 1993. More...

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Bill Ackman Comments on Nomad Guru stock highlight
We invested in Nomad (NYSE:NOMD) in the second quarter of 2015 and a member of our investment team, Brian Welch, joined the board. Our investment was made in conjunction with the company’s formation and its acquisition of Iglo, a leading European branded frozen food company with a strong position in the UK, Italy, and Germany. Stefan Descheemaeker was hired as CEO to lead the new company.Nomad followed its initial transaction with the highly synergistic and complementary purchase of Findus’s non-UK assets in August 2015. The Findus acquisition helped to fill out Nomad’s geographic footprint with leading positions in the Nordic countries and France, and together with Iglo, created the leading branded frozen food business in Western Europe.The combination of Iglo and the Findus assets provided a strong foundation for Nomad as a newly formed public company. That said, the company’s first several quarters were disappointing as the strategy under the prior Iglo management team had focused too much on new frozen food categories at the expense of its core More...

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Bill Ackman Comments on Air Products Guru stock highlight
We recently sold our remaining shares of Air Products (NYSE:APD) (“APD”), concluding a highly successful activist investment. During our four-and-half-year investment, APD delivered a 104.7% total shareholder return. In comparison, the S&P 500 returned 69.9% over the same period.Prior to our investment, APD had slipped from an industry leader to a laggard. While APD participated in a good industry and had produced positive shareholder returns over time, its performance was substantially inferior to its peers and its potential. APD’s margins of 15% trailed direct competitor Praxair’s 23% margins. Furthermore, APD’s operational inefficiency led to subpar growth. The company also owned several non-core specialty materials businesses, and had a history of poor capital allocation.APD’s underperformance was purportedly due to myriad reasons detailed by the prior management team and accepted by the analyst community. Our extensive due diligence revealed that with a proper transformation, APD could achieve meaningfully higher margins and growth. More...

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Bill Ackman Comments on Herbalife Guru stock highlight
During the course of our short position in Herbalife (NYSE:HLF), we have held the investment in various forms, principally a mix of short stock and/or options. Recently we disclosed that we have restructured our short position in Herbalife, and our exposure is now represented entirely by put options. The current market value of the put position is approximately 5% of consolidated fund capital.We have structured the position in this form so that our exposure to Herbalife is limited, and we are no longer exposed to the risks and costs of borrowing shares. Assuming we do not extend the options beyond their initial term, the maximum potential loss for our current position is its current market value.The options are privately negotiated, over-the-counter options, which are not traded or reported on any exchange. The options’ expiration dates can be extended upon or before their maturity. Because the options are deep-in-the-money, the amount of time premium reflected in the options’ current market value is a small percentage of the position. As a result, More...

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Bill Ackman Comments on Platform Guru stock highlight
Platform (NYSE:PAH)’s earnings continued to grow this quarter as growth in the Performance Solutions business offset a decline in the Ag Solutions business. Platform’s organic revenue declined 1%, as Performance Solutions grew 4% and Ag Solutions declined 5%. The growth in the Performance Solutions segment continued to be driven by the positive results of the electronics business it recently acquired from Alent and strength in its industrial business. The decline in Ag Solutions resulted primarily from the ongoing drought in Brazil, which has caused buyers to delay their typical purchases in advance of the planting season. If the drought abates within the next few months, management believes it is likely it will recover these sales in future quarters.Platform’s organic EBITDA increased 1%. Performance Solutions organic EBITDA grew 4% due to revenue growth and ongoing cost synergies from the acquisition of Alent, which was somewhat offset by a higher mix of sales from lower margin products. Ag Solutions organic EBITDA declined 3%, as the portion of sales from higher-margin products increased and the More...

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Bill Ackman Comments on Chipotle Guru stock highlight
While the last six months have been challenging for Chipotle (NYSE:CMG)’s brand, shareholders, and other stakeholders, we believe the company’s significant long-term growth opportunity is one of the most attractive in the industry. Prior to making our initial investment, we understood that this investment could be a volatile journey, and this has certainly proven to be the case. As we have seen with many other restaurant companies in the past, brand and customer sentiment can change quickly, and we are confident that, with the right initiatives and execution, Chipotle will be able to stage a successful turnaround. Management’s immediate focus has been on optimizing existing operations to allow its restaurants to deliver a consistently great guest experience. This effort is being led by the new Chief Restaurant Officer Scott Boatwright, who joined the company in May after a successful career at Arby’s. Near-term operational initiatives include eliminating layers in the upper management ranks to redeploy more resources directly overseeing the restaurant operations, restructuring operations support, More...

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Bill Ackman Comments on Howard Hughes Guru stock highlight
Howard Hughes (NYSE:HHC) continues to show solid and steady progress across its entire collection of trophy real estate assets. Unlike many real estate investment trusts that rely on access to the equity markets in order to grow, the equity for HHC’s development program is provided by cash generated from existing income producing assets and residential lot sales, as the company is not required to distribute its profits to shareholders. Furthermore, HHC’s large land ownership and entitlements provide decades of high-return investment opportunities without the need to acquire any new assets.In Ward Village (Hawaii) where HHC has four large condo towers in various stages of construction, the company achieved its highest volume of sales, 52 condo units, without the launch of a new building. In Q4 2017, HHC will launch its fifth residential project, A'ali'i which will have 751 homes. The company still has a long runway ahead as it has begun development of only 25% of its Ward Village entitlements.Despite Hurricane Harvey, HHC’s Houston master planned communities More...

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Bill Ackman Comments on Restaurant Brands Guru stock highlight
We consider Restaurant Brands’ (NYSE:QSR) franchised business model to be a high-quality, capital-light, growing annuity that generates high-margin brand royalty fees from its three brands: Burger King, Tim Hortons and Popeyes. The company has an extremely capable management team, is backed by an owner-oriented sponsor (3G), and has a large unit growth opportunity that requires virtually no incremental capital. The company’s operating strategy is highly scalable and replicable, which should provide opportunities for additional value-creating acquisitions over time.Restaurant Brands reported continued earnings growth for the third quarter of 2017. The company delivered strong net unit growth at each of its three brands and made progress with Popeyes’ cost structure. Performance at Burger King was particularly impressive this quarter, but was somewhat offset by softness at Tim Hortons.Same-store-sales this quarter grew 3.6% at Burger King, with 4% growth in the US as the company continues to improve its mix of premium and value offerings. Tim Hortons’ More...

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