Pershing Square Capital Management - Investor Profile

Primary Address:

Investor Information:

888 Seventh AvenueTotal AUM ($MM):5,800
29th FloorEquity AUM ($MM):3,318
New York, NY 10019Investment Style:Deep Value
United StatesOrientation:Shareholder Activist
Phone: 212-813-3700 Investor Type:Hedge Fund Manager
Fax: 212-813-3700

Institutional Investor Background

Pershing Square Capital Management is a deep value and activist-oriented hedge fund manager that was founded in 2003 by President and managing partner Bill Ackman. The firm was founded with backing by WMAC Investments, a subsidiary of holding company Leucadia Corporation (NYSE: LUK). Prior to establishing Pershing Square, Mr. Ackman co-founded hedge fund Gotham Partners L.P.

Pershing Square Capital's hedge funds include the Pershing Square L.P., Pershing Square II L.P, Pershing Square International Ltd, and Pershing Square IV L.P. Pershing Square IV was launched in 2007 with the sole purpose of investing in Target Corp (NYSE: TGT), which Mr. Ackman has led an extensive shareholder activist battle against. Beyond Target Corp., Pershing Square has also led notable activist battles against Ceridian Corp., McDonald's, Visa, and Wendy's.

Investor Regional and/or Country Focus: North America

Founders and Key Executives of Pershing Square Capital Management: William 'Bill' Ackman; Nicholas Botta; Roy J. Katzovicz; Scott Ferguson*

Entities related to Pershing Square Capital Management: Leucadia Corporation (NYSE: LUK); Pershing Square IV; Pershing Square LP; Pershing Square Capital

Relevant Firms***: Marcato Capital Management; Sachem Head Capital Management

*Denotes that the person or entity is no longer related to the firm. **If you would like to submit investor updates, please click here. ***Relevant firms may include firms where founders previously worked, funds that were spun-off from the firm, funds that were seeded by the firm and/or unrelated firms that were founded by veterans of the fund. For specific details, please review the Investor Background sections for each firm of interest.

Pershing Square Capital Management's Top 10 Equity Holdings

Company (Ticker) ($MM) Shares Change % Out
Canadian Pacific Railway Limited (U.S.A) (CP) 2,147.48 24,159,888 0 14.26
Procter & Gamble Co (PG) 2,147.48 27,946,892 0 1.01
General Growth Properties Inc (GGP) 1,485.71 74,733,712 0 7.92
Beam Inc (BEAM) 1,322.81 20,818,545 0 13.48
Justice Delaware Holdco Inc. (BKW) 732.91 38,372,120 10,760 10.96
JC Penney Co Inc (JCP) 590.44 39,075,771 0 17.82
Howard Hughes Corp (HHC) 299.04 3,568,017 0 9.40
Mondelez International Inc (MDLZ) 183.02 5,978,956 5,978,956 0.34
Matson Inc (MATX) 74.64 3,033,985 -610,963 7.28

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Articles Related to Pershing Square Capital Management

Ackman to Nominate Himself and Others to Target's & General Growth's Boards

Date: March 17th, 2009
Bloomberg reported this morning that Bill Ackman of Pershing Square Capital Management is planning to nominate himself and 4 others to Target Corp’s...

Ackman wants board representation at Target Corp

Date: February 27th, 2009
Bill Ackman of Pershing Square Capital Management, an activist hedge fund manager, is looking to name potential directors for Target Corp.’s (TGT) board,...

Pershing Want Longs to Hold Out for Higher Bid

Date: August 17th, 2008
Bill Ackman's Pershing Square Capital, which owns a 8.8% stake in Longs Drug Stores, thinks that the company should hold out for a higher offer from either...

Activists Find Bidders for Investment Companies on their Own

Date: August 16th, 2008
A new strategy for activist investors is to find buyers for the companies they have invested in, sometimes without the management's knowledge or consent....

Ackman Suggests Restructuring for Fannie & Freddie

Date: July 17th, 2008
William Ackman, founder of activist hedge fund manager Pershing Square Capital, criticized the possibility of a government plan to buy equity in Fannie...

Pershing Reports 15% Stake in Wendy’s

Date: April 25th, 2008
Pershing Square Capital Management reports that it owns 15% of Wendy's International. Bill Ackman who runs Pershing has had interest in the company before...

Pershing Squares’ Ackman Satisfied, Ceridian to be Acquired

Date: September 8th, 2007
Fidelity National Financial Inc. and Thomas H. Lee Partners will finally be able to acquire Ceridian Corporation for roughly $5.3 billion, or $36.00 per...

Ackman Has Found His Target?

Date: July 16th, 2007
In a SEC filing today, Bill Ackman’s Pershing Square Capital Management reported that it holds a 9.6% stake in Target Corp (TGT). While Mr. Ackman...

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