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bill ackman predicts insane economic boom these are the stocks he owns hedge fund manager bill ackman is one of the most famous activist investors in the u.s mr ackman runs the hedge fund called pershing square capital holdings of which he's the chief executive officer and which he founded in 2003. welcome back to investor secrets in this video we're going to talk about the prediction of bill ackman regarding a massive economic boom in the coming years we'll also look at the top stocks that his company owns so let's get right into it pershing square capital holdings is headquartered in new york city and as of the end of the second quarter it has a portfolio value of 10.7 billion dollars bill ackman is an alumnus of harvard university having received both his bachelor's in arts and masters of business administration from the prestigious ivy league university bill ackman bets against popular companies by going short and buying stocks when they're not popular his first rule of activist investing is to make a bold call that nobody believes in ackman's most popular market play includes shorting mbia's bonds during the financial crisis of 2007-2008 the billionaire hedge fund manager has gained legendary status in the investing community having executed many successful and creative investment plays it's never a good idea to blindly follow the portfolio of a single investor but a look at bill ackman's top positions can yield useful ideas as compared to some of the other multi-billion dollar hedge funds out there pershing square capital holdings has a small portfolio since the fund's inception pershing square has been primarily managed by bill ackman who initially funded the company with 54 million dollars from his personal funds current portfolio holdings unlike many hedge funds which will heavily diversify their portfolio holdings by investing in numerous equities pershing square's philosophy has always involved betting on a few high conviction ideas all 10.7 billion dollars of its public equity holdings are currently invested in only six stocks let's take a look at bill ackman's top six largest holdings as of its latest 13f filing lowes currently occupying just under one-fifth of the fund's public equities portfolio lowes is bill ackman's largest position ackman has been building the position since 2018 in hopes that lowe's market share in the home improvement space will grow against home depot the position was left relatively unchanged as of pershing square's latest f13 filing mr ackman has paid an average estimated price of around 95 dollars while building the position shares are currently trading above 230 making lowe's a winning bet over the past couple of years the company has proven resilient posting growing revenues during the past year as consumers focus on home improvement amid the stay-at-home economy over the past four quarters the company has generated nearly 95.2 billion dollars in sales the highest in its history additionally lowe's nut income margins have been expanding due to the company achieving higher economies of scale hitting new all-time highs as of the past four quarters at 8.63 the company's margins have never been very juicy due to being a retailer but at such sales volumes low's last 12 month profitability has hit record levels coming in at 8.19 billion dollars in profits during this period also the highest in its history it's worth noting that lowes is a divided king counting 59 years of consecutive annual dividend increases despite the company's mature profile lowes keeps on returning capital to its shareholders very aggressively this past quarter the company announced its 59th annual dividend increase hiking its quarterly dividend by a whopping 33.3 percent from 60 cents to 80 cents the company surprised investors by this hike which is the largest one over the past 12 years and far larger than its 10-year cagr of 18.6 amid a comfortable payout ratio additionally the company has been repurchasing its stock very rapidly retiring more than half of its outstanding shares over the past 15 years as a result bill ackman's stake is likely to keep expanding even if the fund does not grow its position further as continued buybacks gradually result in pershing owning a larger percentage of the company over time chipotle mexican grill at around 20.4 percent of pershing square's equity holdings is chipotle ackman has been buying shares since 2016 betting heavily on the fast food chain shares have more than quadrupled since with pershing square still holding around 3.96 percent of the company's total shares with an average estimated purchasing price of around 386 dollars chipotle has been one of pershing square's most successful picks currently trading at approximately 1 389 dollars per share the company has been in an extended growth phase with revenues moving higher over the past year while the pandemic adversely affected the restaurant industry chipotle benefited greatly amid growth in delivery orders chipotle's growth slightly decelerated last year though it quickly rebounded to a double-digit rate hilton worldwide holdings pershing square's strategy of holding large chunks of major corporations is also reflected in hlt in which mr ackman has bought up a 4.6 stake mr ackman has commented that while the pandemic may have adversely impacted the hotel industry and continues to do so it should also cause independent hotels to seek affiliation with global brands like hilton which will contribute to its long-term growth prospects the company further benefits from a capital light economic model and a strong balance sheet shares are currently trading near all-time high levels despite the initial catastrophe-like concerns during the covet-19 outbreak proving mr ackman's conviction right it's also worth noting that the company has around 1.29 billion dollars in cash and equivalence in its war chest this should be adequate for management to refuel the company's growth as the travel industry recovers while ensuring that hilton does not face any solvency issues if the recovery takes longer than expected restaurant brands international comprising just under 13.9 percent of the funds holding is restaurant brands ackman boosted pershing's stake by one percent quarter over quarter now holding around 7.76 percent of the company's shares after shares lost more than half of their value during march of 2020's coronavirus sell-off ackman's investment has been rather successful with the stock regaining most of its value from its pre-covet 19 levels while qsr's top and bottom line declined during previous year amid disruption in operations the company has remained profitable howard hughes corporation howard hughes is weighted at 12.6 percent of pershing's portfolio mr ackman increased his position by 158 between 2019 and 2020 and by one percent as of pershing square's latest 13 f filing pershing square is holding nearly 25 of hhc's shares significantly backing the dallas-based property manager while mr ackman's picks usually turn into very successful investment ideas it's worth mentioning that howard hughes has been struggling as of late unable to post consistent profits also while the company has a robust cash position of just over 1 billion dollars which is quite large considering its 5 billion market cap it also has 4.46 billion dollars of long-term debt on its balance sheet domino's pizza pershing square currently owns 5.67 of the international pizza behemoth the company keeps expanding its store count which currently numbers more than 17 800 locations what's astonishing is that 98 of these locations are franchised which means that domino's receives a steady stream of royalties that grow over time without the company having to finance these locations itself and undertake the operational risks attached the current royalty fee is 5.5 on sales therefore even if a store has its margin squeezed domino's revenues are not affected over time royalties grow backed by additional store openings enhanced same store sales and price increases revenues continued growing over the past year despite the ongoing pandemic which is a testament to the company's operational resiliency and strong brand value considering domino's growth prospects fantastic business model and potential for a margin expansion this is a reasonable valuation multiple additionally the company has been growing its dividend annually since 2013 featuring a three-year cagr of 19.6 percent domino's is also another one of pershing square's holdings that execute strong buybacks the company has also retired around one-third of its shares over five years which is quite amazing pershing square is an unusual hedge fund which the public has the opportunity to buy into due to its public market listing run by renowned investor bill ackman the company has massively outperformed the market over the past few years through its uniquely structured plays and high conviction ideas by looking at bill ackman's portfolio we can expect an insane economic boom in food hotels and home improvement sectors
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