원문 보기
Bill Ackman owns 12 stocks in his Pershing Square portfolio worth $10.4 billion . In this video, we'll take a look at his 10 biggest holdings, starting with number 10—Nike . Bill Ackman just bought Nike stock last quarter, and it's the smallest stake on our list, at $237 million. Nike is a $ 116 billion sportswear giant that is trading just $7 above its 52- week low.
Today, eight super investors own Nike, and five of them increased their stakes in the last quarter. Nike was one of the most profitable stocks in history, but it has lagged the market over the past decade. This is partly due to concerns that the company's growth has slowed. Indeed, this is true for their sales, but free cash flow and earnings have increased in recent years, and Nike still earns a very high return on capital.
Perhaps another benefit for shareholders is that Nike has returned a lot of money to them. They bought back shares every year except 2020. And Nike is a stock that shows dividend growth. They currently pay a dividend yield of 1.92%, which they have been raising for 19 consecutive years. Last year alone, Nike increased its dividend by 8.8%.
And combined with share buybacks, they have a 4.5% return for shareholders. These growth concerns and recent successes by competitors mean Nike is trading well below its historical price- to-sales ratio. While this is still above their current earnings or cash flow, the market may be expecting a recovery for Nike as GuruFocus' valuation is $114 per share, which is $50 above the current price.
Their current cash flows support a 17% growth potential, and that's the same price target analysts have. Bill Ackman is a legendary value investor who founded Pershing Square Capital Management in 2003. He is known for working with managers directly, and sometimes acting as an activist investor, to improve stock performance through Pershing Square, focusing on long-term value investing and employing a concentrated portfolio strategy.
Ackman's next stock, number nine, is Brookfield Corporation, a Canadian private equity firm. It's also a new asset for Ackman, acquired last quarter. This asset is currently valued at $364 million. Brookfield has a market cap of $80 billion and is trading just $3 below its 52- week highs. Ackman is one of five super investors who own Brookfield shares.
Josh Terasoff invested 17.5% of his portfolio in it, as did Chuck Ory, whose stake is 6.75% of the portfolio. Brookfield's performance is somewhat similar to Nike's in that it has been growing, but that growth has slowed recently. Nevertheless, they generate significant cash flow. One thing to note is that the company has significantly increased its debt, especially over the past decade.
Brookfield had years where they issued a lot of stock for acquisitions, but recently they have also started buying back some of their stock. They also pay a small, modest dividend yield of 0.59%. Today, the company's valuation, according to Guru Focus, is only $43.5 per share. That's $10, or 20%, below their current market price.
Analysts also set their target price at around the current stock price. If you like this video and want to support the channel, be sure to follow the first link in the description. This link will take you to Interactive Brokers' Global Values affiliate service . Simply by clicking on the link and checking out their brokerage services, you support the channel.
The eighth stock in Aman's portfolio is Alphabet, the parent company of Google and YouTube. This is an asset worth $675 million that Aman largely bought up in 2023, when Alphabet's stock price was undervalued. Most recently, in 2024, it slightly reduced its share. Alphabet is the stock most often held by super investors.
It is owned by 33 of them, and the leaders in terms of share in the portfolios are Leelu and Altar Rock Partners. Today, Alphabet is a $ 2.1 trillion business , with shares trading $20 below their 52-week high. Despite some obstacles, Alphabet has been one of the most successful stocks in both the company's history on the market and over the past decade.
They have a strong net cash position, earn high profits, generate a lot of free cash flow, and have grown significantly over the past 5 years. Additionally, they have been buying back shares for the past 5 years. And in 2024, they started paying dividends. At the moment, Alphabet pays dividends with a yield of 0.47%.
Compared to its big tech peers , Alphabet appears to be . Canadian Pacific Kansas City is the seventh stock in Aman's portfolio, and he has held it for a long time. It is now valued at $1.2 billion, and he significantly increased his stake in the company in 2022. Most recently, he again slightly reduced his stake in it.
After merging with Kansas City Southern, Canadian Pacific Kansas City became a $72 billion railroad giant. The stock is trading in the middle of its 52- week range, just $9 above the lows. In total, Canadian Pacific Kansas City is owned by six super investors, led by Aman, who has the largest stake in the company, followed by Chris Hawn.
This merger of first-class railways was a huge event in 2021. The company issued a lot of shares and took on debt to make this happen. Since then, their profits and cash flows haven't quite materialized, and their return on capital has declined. However, the company appears to be trading above its historical valuations based on sales and profitability.
Next, at number six, we have Alphabet's Class C shares. The only difference from another block of shares is the voting rights. Otherwise, the company has the same economic rights. This is Ackman's stake worth $1.3 billion , and Alphabet in total is $2 billion in his portfolio. For Class C shares, he is the third largest super investor.
Now let's move on to promotion number five. This stock is Howard Hughes Holdings. Ackman is the only super investor who holds these stocks, and they make up 12% of his portfolio. This is perhaps the smallest company on our list with a market cap of just $3.8 billion. Today, the stock is trading $6 below its 52- week high.
Howard Hughes is a commercial real estate company that has suffered over the past decade. During this time, their share price tended to decline. Their numbers can be hard to decipher, but it 's likely a mix of active play and a recovery story for Ackman. They trade favorably compared to historical sales estimates, but above tangible book value and projected free cash flow.
Restaurant Brands International, or QSR, is the fourth- largest stock in Ackman's portfolio, with a stake of $1.6 billion . He bought a lot of stocks during the COVID-19 pandemic, but has been selling more recently— in late 2023 and early 2024. QSR owns four iconic brands: Tim Hortons, Burger King, Popeyes and Firehouse Subs.
Today, their market cap is $22 billion , and they are trading just $4 above their 52- week low. Ackman and Prem Vatsa are the only two super investors with a stake in the company, and Ackman's stake is the largest. QSRs have struggled to keep up with the market over the past decade. Although sales volumes have increased, margins have decreased and they are generating less free cash flow and profit.
In the past, they have issued a lot of stock to finance acquisitions. And the lack of new share issuance is partly why their return on capital has increased. Less well known, Restaurant Brands is actually a growth dividend stock. They are currently paying an above- market yield of 3.31%, which they increased by 4.6% last year.
And they've been increasing their dividends for nine years in a row. GF- the company's value today is $85 per share, which is $15 above their current price. However, their cash flows suggest that the company is valued almost exactly at its value. Analysts are more optimistic, predicting growth of 19% and a target price of $83.
Chipotle Mexican Grill is one of Aman's oldest assets, and it has become one of its most successful. His stake is currently valued at $1.66 billion, but he has sold a lot of shares in five of the last six quarters. Similar situation: Chipotle shares are owned by only two large investors, and Aman's stake is the largest.
This Mexican fast food giant, with a market capitalization of $80 billion, is trading between its annual high and low. Over the past decade, it has been one of the best- performing stocks on the market, even despite the food safety scandals of the mid-2010s. Their performance shows significant growth, and for most of these years they have received high returns on capital.
But that may not help with higher estimates, which are well ahead of all their historical numbers. Their GF-value today is $49 per share, which is $7, or 15%, below the current market price. Analysts expect continued growth with a potential of 10.5% from the current level. Aman's second largest stock is the largest company we can see in his 13F report.
This is Hilton Worldwide Holdings. Hilton is a $2 billion investment and again one of Aman's oldest assets. He initially bought the shares at an average of $83, and now they are trading at more than $200 per share . Hilton is a $58 billion hotel brand that is trading just $6 below its 52-week high. Overall, Aman is the largest of the four super investors who have invested in Hilton.
This is 18.5% of its assets registered in the US. He is followed by Dennis Hong of Shawring Partners with a 14.4% stake. Hilton shares have performed remarkably well over the past decade, even despite a sharp decline in 2020. They have recovered incredibly well since then. Today, things are finally going better than in 2019.
It has been a tough road for the company, but they have delivered very strong sales and cash flow over the past couple of years. They did n't even have to take on huge debts to stay afloat. Instead, the company returned capital to shareholders. They have been actively buying back shares for two of the last three and six of the last seven years, and even pay a small dividend with a yield of just 0.26%.
But despite its recent success, it appears that the company is still trading well above its historical valuations. The situation is not improved by the fact that it took them several years to return to pre- pandemic levels. Analysts who follow this company and are usually optimistic about others have set a target price exactly at the level of today's Hilton stock price.
Do you know what stock is number one in Bill Ackman's portfolio? If you follow it closely , you might know, but for most it's hidden because it's not shown on Form 13F and can only be found in the shareholder report. Universal Music Group is a $ 5.3 billion asset , making up a full third of Bill Ackman's portfolio.
The company's shares are listed in the Netherlands and are currently trading at 23 euros apiece. This is $3 above the 52- week low and $5 below the 52- week high. Ackman owns their European-listed shares, while Sequoia Fund is the only other American super investor to own US-listed shares, where they account for 5.4% of the portfolio.
Universal Music is the largest of the world's three leading record companies. It includes such well-known labels as Interscope, Capitol Music, Motown Records and Def Jam, and represents the world's most successful artists, including Taylor Swift, Drake, The Weeknd and Morgan Wallen. They have only been listed since 2021, and their value has decreased by 6.5% since then.
Maybe it's a great royalty company that's steadily growing sales, profits, and cash flow. They have even significantly reduced their debt since going public. And while this debt has been expensive, they are earning above- average returns on capital in most years. However, despite its strong growth and business model, Universal Music may be trading well above its historical valuations.
So, these are the top 10 stocks that Bill Ackman owns in his portfolio. Which one interests you the most? Let us know in the comments below. Don't forget to like and share the video if you enjoyed it. Subscribe to the channel so you don't miss anything new, and have a nice day.
Comments 0