Latest Transactions of Bill Ackman Q4 2024

Highlights

Biggest Buys

1. Seaport Entertainment Group (SEG) Pershing Square added 2,929,107 shares of Seaport Entertainment Group to its portfolio, increasing its position by 139.84% at an average purchase price of $28.50 per share. Seaport Entertainment Group is an emerging player in the entertainment and hospitality sector, focusing on venue management and live events. Despite market volatility in the entertainment sector throughout 2024, Ackman sees significant growth potential in the company's business model.

2. NIKE Inc. (NKE) Pershing Square increased its stake in NIKE by 2,488,608 shares, representing a 15.29% increase, at an average purchase price of $77.41 per share. NIKE is a global leader in athletic footwear, apparel, and equipment. Ackman's decision to expand this position suggests confidence in the company's brand strength and growth strategy despite recent challenges in the retail sector.

3. Brookfield Corp. (BN) Pershing Square expanded its position in Brookfield Corp. by 2,157,181 shares, a 6.59% increase, at an average purchase price of $56.50 per share. Brookfield is a global alternative asset manager with significant investments in real estate, infrastructure, renewable power, and private equity. This increased investment reflects confidence in Brookfield's diversified business model and long-term growth prospects.

4. Hertz Global Holdings Inc. (HTZ) Pershing Square initiated a new position by purchasing 12,713,963 shares at an average purchase price of $3.51 per share. Hertz is one of the largest car rental companies globally, currently navigating a post-pandemic recovery and fleet electrification strategy. This new position represents a significant bet on the company's turnaround potential following its restructuring efforts.

Biggest Sells

1. Chipotle Mexican Grill Inc. (CMG) Pershing Square sold 4,161,632 shares of Chipotle, reducing its position by 14.44%, at an average selling price of $60.16 per share. Chipotle is a leading fast-casual restaurant chain known for its customizable Mexican-inspired menu. Despite the reduction, Chipotle remains a significant holding in Ackman's portfolio, suggesting this may be a profit-taking measure after the stock's strong performance.

2. Hilton Worldwide Holdings (HLT) Pershing Square sold 1,929,622 shares of Hilton, decreasing its stake by 26.18%, at an average selling price of $247.10 per share. Hilton is one of the largest hospitality companies globally, with a portfolio of hotel brands across various market segments. This significant reduction might indicate a strategic reallocation of capital after Hilton's share price reached record highs in late 2024.

These transactions highlight Pershing Square's strategic portfolio adjustments in Q4 2024, with increased investments in entertainment, consumer goods, and alternative asset management while reducing exposure in the restaurant and hospitality sectors. Ackman's most notable move was establishing a new position in Hertz, demonstrating his willingness to invest in turnaround situations at attractive valuations.

Overview

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