저자: 미상 · 외국인
요약 보기
빌 애크먼의 2022년 3분기 13F 기준 포트폴리오를 분석한 영상. 결론: 애크먼은 주가가 하락하면 매수하고 상승 시 일부만 매도하며, 고품질·예측가능·현금창출 기업에 집중 투자한다. 포트폴리오 구성: 유니버설뮤직 38.12%, 로우스 14.5%, 치폴레 12.4%, 레스토랑브랜즈인터내셔널 9.6%, 힐튼 9%, 하워드휴즈 8.7%, 캐나디안퍼시픽철도 7.6%. 총 평가액 약 79억 달러. 캐나디안퍼시픽: 2011년 매수 후 CEO·이사회 교체 등 경영 개입으로 가치 창출, 2016년 청산, 2021년 4분기 재매수(소규모, 4분기 지분 417% 추가 언급). 하워드휴즈: 2010년 첫 매수 후 2020년 1분기 주가 급락 시 대규모 재매수, 현재 약 32% 보유. 2023년 1월 1주 내 200만 주 이상 매입으로 내부자 공시. 힐튼: 2018년 4분기 매수, 2020년 1분기 하락 시 30% 추가 매수 후 점진 매도, 직전 분기 1% 이상 추가 매수. 레스토랑브랜즈인터내셔널: 2014년 4분기 매수 후 고가에 일부 매도, 저가에 재매수 반복. 직전 분기 1.5% 추가 매수. 2021년 12월 Firehouse Subs 10억 달러 인수. 치폴레: 2016년 약 400달러에 매수, 현재 약 1,500달러. 2년간 횡보 후 일부 매도했으나 장기 보유 방침, 직전 분기 변동 없음. 로우스: 2018년 2분기 약 95달러 매수, 현재 약 187달러. 하락 시 계속 매수, 직전 분기 1.6% 추가 매수, 미국 최대 투자 중 하나. 유니버설뮤직: 2021년 9월 IPO 전 암스테르담 거래소 관련 10% 취득, 주가가 IPO가 대비 소폭 하락 상태이며 관망 중. 고려사항: 영상 시점(2023년 1월) 이후의 결과는 미확인. 13F 기반 과거 분석으로 향후 전망 발언은 제한적. 발언 요약: 애크먼은 주가 하락 시 매도하지 않고, 상승 시 일부만 매도해 수익을 확보하며 성장 시간을 준다. 단 집중투자 특성상 큰 변동성 노출 가능.
다듬은 글
Bill Ackman is an American billionaire investor and hedge fund manager he is the founder and CEO of Pershing Square Capital Management which he started in 2004. before that in 1992 he started Gotham Partners which he had to close in 2001 after he made a number of bad calls and started to change from a diversified hedge fund to a holding company with a portfolio of private companies and right now his portfolio is worth almost 7.9 billion dollars so let's see what moves he made in the last quarter and how is his portfolio structured the biggest investment is Universal Music Group 38.12 percent lows companies 14.5 percent Chipotle Mexican Grill 12.4 Restaurant runs International 9.6 percent Hilton worldwide Holdings nine percent Howard Hughes Corporation 8.7 Canadian Pacific Railway 7.6 percent so let's go back in time and analyze the history of his current Investments and hopefully we can find some patterns in his behaviors and maybe learn something on the way but before we do that there was one very interesting move from Bill Ackman in the last quarter that we just have to mention he sold 100 of his shares in Domino's Pizza he bought his first shares in q1 2021 and he controlled around five percent of this company and really this investment didn't go anywhere and after selling the shares akman wrote in light of the company's relatively High valuation in the context of a volatile Market environment we decided to exit our investment to raise cash for alternative investment opportunities so if we translate that to plain English we get something like we made a small amount of money and it's time to find a much better investment okay so now let's analyze Bill ackman's portfolio and let's start with Canadian Pacific Railway the railway owns approximately 21 000 kilometers that is 13 000 miles of tracks in Canada and the United States and in December 2021 the company completed its acquisition of Kansas City Southern creating the first rail network that spans through Canada U.S and Mexico Bill Ackman bought a lot of shares of Canadian Pacific Railway in 2011 and he developed a plan to replace the CEO they fought for a long time but ultimately they replaced not only the CEO but most of the board and the execution of the plan went better than expected creating a significant value for the shareholders he exited this investment in 2016 and just recently in Q4 2021 he is back at the moment on a much smaller scale but in the last quarter he added over 417 percent to his investment so we will just have to wait and see what will happen in the future his second smallest investment is Howard Hughes Corporation it is a real estate development and management company based in Texas it was formed in 2010 as a spin-off from General Growth Properties akman bought his first shares in Q4 2010 for around 54 dollars the price was going nicely up and he sold almost all of his shares but then in q1 2020 the price went down from around 126 dollars to just 50 dollars and then Bill Ackman invested in a big way akman currently owns almost 32 of the company and Pershing Square Capital Management is the biggest investor by far with Vanguard with only 10.5 percent so he didn't buy any extra shares in the third quarter of 2022 but he is buying in the fourth quarter and we know that already because he owns so much shares that he is treated as an Insider and has to file such an information almost immediately after buying the shares and not just once a quarter in his 13f and it is a big change in a matter of one week he bought over 2 million shares so maybe this is the better investment that akman was talking about when he decided to sell Domino's Pizza well time will tell next up is Hilton worldwide Holdings but before we take a look at this company I would really appreciate if you would press the like button to help this channel grow thank you so much and back to Bill Ackman Hilton worldwide Holdings is an American multinational hospitality company that manages and franchises a broad portfolio of hotels and resorts Hilton has 18 Brands across different market segments and Bill Ackman bought his first shares in Q4 2018 for something around 72 dollars when the price price fell in q1 2020 he added another 30 to this investment and he was selling it slowly making a nice profit on the way but in the last quarter he actually added over one percent to this investment now let's take a look at restaurant Brands International it is a multinational fast food holding company it was formed in 2014 by a merger between Burger King and Canadian coffee shop and restaurant chain team Hortons and it expanded in 2017 when it purchased an American fast food chain Popeye's Louisiana Kitchen the company is currently the fifth largest operator of fast food restaurants in the world and in December 2021 they bought Firehouse Subs for 1 billion dollars so they are expanding all the time and Bill Ackman bought his shares in Q4 2014 so at the very beginning of this company and we see the same scenario as with other companies he's slowly selling the shares when they are expensive and buying some more when the price is down and in the last quarter he bought extra 1.5 of his shares the third biggest investment for Bill Ackman is Chipotle Mexican Grill so another fast food chain Chipotle operates restaurants in United States United Kingdom Canada Germany and France Ekman invested in Chipotle in 2016 for around 400 dollars per share and currently one share costs 1 500 and the interesting thing here is that for two years the price didn't go anywhere and Ackman did nothing but when it went up a bit he started to slowly sell the shares but at some point he just decided to keep this company and let it compound I think he really believes that it is a great investment and that he will keep it for a very very long time and akban didn't make any changes to this position in the last quarter the second biggest investment for Bill Ackman is Lowe's companies it is an American retail company specializing in Home Improvements the company operates a chain of retail stores in United States and Canada the company operates over 2 000 Home Improvement and hardware stores in North America lows is the second largest Hardware chain in the world billakman bought his first shares in Q2 2018 for around 95 presently the price is closer to 187 dollars as we can see with this position the story is a little bit different he is still buying when the price is going down but he didn't make any substantial sales it means that he has a strong conviction in this company not only because he is gathering more and more shares in the last quarter he added another 1.6 percent but also because it is his biggest U.S investment so now we get to his biggest investment overall Universal Music Group it is a Dutch American multinational music Corporation the biggest Music Company in the world the company went public on September 21st 2021 and Bill Ackman acquired 10 of Universal Music Group prior to its IPO on the Amsterdam stock exchange as we can see the stock is slightly down compared to its IPO price so just as we saw in other Investments when the stock is down he either buys or just he does nothing so it seems that akman is just waiting to see where this investment will take him so that is Bill ackman's portfolio and what key points can we take away from this analysis well I see a few one he never sells when the stock is down two when it is up he usually sells just a small part of it so he is securing the gains from the investment but he also gives time for this investment to grow three he invests in high quality businesses that are simple predictable and that produce a lot of cash and as we could see he does make bold big moves that is why he's really concentrated and he does not have any positions that are below 7.5 percent of the portfolio so only the best ideas make their way into the portfolio so that's it for today thank you for watching and don't forget to like this video if you found it interesting bye bye
Comments 0