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영상 전체는 빌 애크먼(퍼싱스퀘어)의 포트폴리오를 소개하는 내용으로, 예측 발언은 없고 과거 보유 종목과 실적을 설명한다. 투자 전략: 단순하고 예측 가능한 현금창출력이 높은 우량 기업을 본질가치보다 싸게 사는 방식으로, 워런 버핏과 유사하다고 소개. 보유 종목 1: 로우스(LOW) 약 20억 달러, 포트폴리오의 18%대. 2020년 매출 720억 달러, 순이익 45억 달러, 주가 약 203달러, PER 18.7. 보유 종목 2: 애질런트(A) 약 17억 달러, 약 16%. 2020년 매출 53억 달러, 순이익 8.85억 달러, 주가 약 170달러, PER 47.2. 보유 종목 3: 치폴레(CMG) 약 16억 달러, 약 15.7%. 2016년 약 400달러대에 진입, 현재 2천 달러 근처. 지분을 9.9%에서 4% 미만으로 축소. 2020년 매출 60억 달러, 순이익 3.13억 달러, 시가총액 약 540억 달러. 보유 종목 4: 힐튼(HLT) 약 15억 달러, 약 14.3%. 2020년 매출 43억 달러, 순손실 1.37억 달러(2019년 매출 95억 달러, 순이익 10억 달러 이상). 시가총액 약 350억 달러. 보유 종목 5: 레스토랑브랜즈인터내셔널(QSR) 약 15억 달러, 약 14%. 버거킹·팀호턴·파파이스 보유 순수 프랜차이즈 구조, 2020년 매출 약 50억 달러, 순이익 7.54억 달러, 시가총액 약 300억 달러. 보유 종목 6: 하워드휴즈(HHC) 약 13억 달러, 약 12%. 퍼싱스퀘어가 지분 약 25% 보유, 애크먼이 이사회 의장. 2020년 매출 7억 달러, 순손실 1천만 달러. 장기 베팅으로 설명. 보유 종목 7: 도미노피자(DPZ) 약 9.5억 달러, 약 9%. 지분 약 6%, 과거 스타벅스 매각 자금으로 매수, 주당 약 330달러에서 매수, 현재 약 510달러. 2020년 매출 41억 달러, 순이익 약 5억 달러, 시가총액 약 190억 달러. 결론: 애크먼 포트폴리오는 외식·프랜차이즈 등 소비 관련 고품질 기업에 집중된 소수 종목 집중형 구조이며, 영상은 과거 실적과 보유 현황 소개가 중심이다.
다듬은 글
billionaire investor bill ackman runs one of the most closely followed stock market portfolios in this video we are going to talk about what stocks he owns and who knows you may just get an idea for your own portfolio let's jump into the video before we get into what stocks bill ackman owns it's important to take a second to better understand his investment strategy this will help explain why he owns the stocks he does what what's the checklist you kind of go through so we look for very high quality businesses what we describe as simple predictable free cash flow generative dominant businesses a business that warren buffett would describe as having a moat around it right if you if you believe that the value of anything financial is the present value the cash you can take out of it over its life well you need to know what how much cash is going to generate over its life so the business quality to us is the single most important uh criterion for determining what's interesting because if we can't predict the cash flows we don't know what's worth we don't know what's worth we can't invest so we figure out what it's worth figure out how good the business is how predictable will this cash flows be from a railroad or a spirits company or a real estate company shopping mall business and then we say okay well where's it trading and if there's a wide gap between price and value you can buy for 50 cents it's worth a dollar twenty well then we're going to take a hard look and try to understand why it trades at a deep discount and once we understand the reasons we decide well these things that we can solve you know can we in light of the situation uh the circumstances can we be influential in changing these these levers that can cause this valuation discrepancy to narrow and is this a business that while we're causing the valuation discrepancy to narrow we can also perhaps contribute to the valuation growing uh and those things are true we found something that looks quite interesting for us ackman sums up his investment strategy in this one sentence by simple predictable cash generative businesses for less than what those businesses are truly worth if this sounds familiar that is because his strategy is very similar to that of the legendary investor warren buffett this makes sense given the fact that bill ackman is a huge fan of warren buffett ackman even attended the berkshire hathaway annual meeting as early as the 1990s and even got the privilege of asking a couple of questions at the event the next thing you will notice about bill ackman's portfolio is that there aren't very many stocks in it his portfolio is extremely concentrated especially when you compare it to other investment managers who have upwards of 100 stocks in their portfolio at any given time so now that we better understand ackman's investment strategy let's jump into his portfolio but first make sure to hit the like button because a ton of research goes into these videos and the support really encourages me to keep making these videos for you guys you guys are great the largest position in bill ackman's portfolio is lowe's ticker symbol low this position is worth 2 billion dollars it makes up over 18 percent of ackman's portfolio lowes is a fortune 50 company and is the world's second largest home improvement retailer its biggest competitor home depot is number one lowe's stores offer a wide variety of products including lumber paint plumbing electrical supplies and tools pretty much a one-stop shop for anything a suburban dad could ever need the company operates three main divisions the largest division is home decor which includes things such as appliances flooring kitchen and bath and paint home decor accounts for around 35 percent of sales next up is building products which includes products such as lumber electrical lighting and plumbing the building products division accounts for around 30 percent of sales its third division is hardlines which includes hardware lawn and garden and outdoor tools hardlines accounts for around 30 percent of sales lowes had sales of 72 billion dollars and generated profits of 4.5 billion dollars in 2020 the stock currently trades at around 203 dollars a share and has a p e ratio of 18.7 the second largest position in ackman's portfolio is agilent technologies ticker symbol a this position is worth around 1.7 billion dollars and accounts for around 16 of the total portfolio don't feel bad if you don't know what this company does or have ever even heard of it neither did i and i am an investor for a living after a quick google search i found out that agilent is a leading maker of scientific testing equipment agilent did 5.3 billion dollars in revenue in 2020 and had a profit of 885 million dollars the stock currently trades around 170 a share and has a p e ratio of 47.2 next up in the portfolio is chipotle ticker symbol cmg this steak is worth 1.6 billion dollars and makes up 15.7 percent of the portfolio chipotle is a popular american quick casual restaurant chain popular for its burritos tacos burrito bowls and salads chipotle is unique among large restaurant chains in america in that it doesn't franchise its locations instead the company owns all of its locations ackman's investment in chipotle dates back to 2016 when he purchased a 9.9 stake in the company when ackman initially made this investment chipotle stock price had suffered as the restaurant had a food safety issue that resulted in customers getting sick this investment may end up being one of bill ackman's most successful investments of all time the company was able to overcome its challenges and the stock price has increased dramatically as a result bill ackman was able to buy into the stock at around 400 at the end of 2016.
today the stock is currently trading just shy of two thousand dollars a share put another way the current share price is worth about 200 chipotle steak burritos ackman's investment has had quite the impressive return over a less than five year holding period bill ackman has taken advantage of the high share price by trimming his stake in the company this year he used to own 9.9 percent of the entire company but that has been reduced to just shy of 4 he remains one of the largest shareholders in chipotle chipotle had revenue of six billion dollars and profits of 313 million dollars in 2020 the current market cap is nearly 54 billion dollars hilton worldwide holdings ticker symbol hlt is the fourth largest position in the portfolio the position is worth 1.5 billion dollars or roughly 14.3 percent of the total portfolio hilton worldwide holdings owns and manages hotels resorts and timeshare properties across the globe if you need a bed for the night hilton has just a few hundred thousand of them hilton worldwide is one of the largest hotel years with a lodging empire that includes over 6 400 properties comprising about 1 million rooms in about 120 countries its brands include doubletree embassy suites hampton inn and its flagship hilton brand hilton checks all the boxes for what ackman looks for in an investment ackman said quote hilton is a high quality asset light high margin business with significant long-term growth potential led by a superb management team hilton had revenue of 4.3 billion dollars and lost 137 million dollars in 2020.
definitely a bad year when you consider that in 2019 the company did 9.5 billion dollars in revenue and over 1 billion dollars in profit hilton has a market cap currently of 35 billion and a current stock price of around dollars ackman owns 1.5 billion dollars of restaurant brands international stock ticker symbol qsr worth around 14 of his portfolio restaurant brands international owns the brands burger king tim hortons and popeyes pershing square has been an investor in qsr since 2012 when they invested through a merger into the holding company that was then taken public in connection with the acquisition of burger king by 3g capital 3g capital is the investment firm led by brazilian billionaire jorge paolo le man 3g capital is well known for another deal it did as well this deal was when they partnered with legendary investor warren buffett to purchase a large stake in the american food company craft heinz since his original investment ackman added to a steak and now owns 7.5 percent of qsr qsr through its brands burger king tim hortons and popeyes is a pure franchise company meaning they collect a steady stream of royalties from independent operators who run the restaurants without having to spend large amounts of cash building and maintaining the restaurants restaurant brands had revenue of nearly five billion dollars and profits of 754 million dollars in 2020 the company has a market cap of 30 billion dollars and the stock currently trades at around 64.
the sixth largest position in akman's portfolio is howard hughes ticker symbol hhc ekman owns 1.3 billion dollars of stock representing 12 of his portfolio ackman's fund pershing square owns an astonishing nearly 25 percent of the company this is by far the largest percent of a single company that ackman owns the howard hughes corporation develops real estate the company manages master planned communities shopping malls and mixed-use developments throughout the united states for those of you who don't know a master planned community is kind of like a small self-contained city in which a developer such as howard hughes builds the houses in an area that was previously just empty land this stake in howard hughes dates back more than a decade to 2010 when ackman purchased shares as part of howard hughes spinoff from the real estate investment trust general growth properties while ackman has been a shareholder in the company for more than a decade the majority of the shares he owns were purchased in the last 18 months when the market was crashing in march and howard hughes needed to raise money by selling 12 million shares ackman bought 10 million of them ackman is also chairman of howard hughes's board of directors bill ackman considers this investment a generational bet and said quote we've owned it for 10 years and it's likely we'd still own this 10 years from now the company's growth strategy is focused on developing properties in areas that people are moving to such as las vegas texas and hawaii howard hughes had revenue of 700 million dollars and a loss of 10 million dollars in 2020.
this is a sharp contrast to 2019 when revenue was 1.3 billion dollars and profit was 128 million dollars the company has a current market cap of nearly 5 billion and the stock trades for around 90 a share the final position in the portfolio is dominoes ticker symbol dpz ackman's position in domino's is worth about 950 million dollars and accounts for just under nine percent of the total portfolio ackman owns about six percent of the entire company i did an entire video on this news when ackman made this investment earlier this year you can check that out here domino's is the largest pizza chain in america based on sales the company operates a network of company-owned and franchise stores located throughout the united states and other countries of the 17 000 locations throughout the world only 350 of them are owned directly by dominoes the rest of those locations are franchised with an independent operator owning the location and paying the company fees this position is the newest name in their portfolio with ackman announcing the investment in domino's this past may if you didn't notice already by looking at ackman's other positions he is a huge fan of the restaurant industry with holdings and dominoes chipotle and restaurant brands international he also used to have a large position in starbucks which he actually sold and used the cash from that sale to purchase this position in domino's bill ackman took an advantage of a momentary dip and domino's stock price and started purchasing shares of the company around three hundred and thirty dollars a share domino shares are currently trading at five hundred and ten dollars a share the company had sales of 4.1 billion dollars and profit of nearly 500 million dollars in 2020 domino's current market cap is nearly 19 billion dollars and the stock currently trades at a p e ratio of around 41.
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