- Billionaire Bill Ackman's hedge fund returned 58% in 2019.
- The 2019 performance was a fantastic rebound for the fund, which posted negative net returns each year from 2015 to 2018.
- Here are the top eight publicly disclosed holdings in Ackman's hedge fund, according to the most recent SEC filings.
- Read more on Business Insider.
After strong performance throughout the year, Bill Ackman's activist hedge fund Pershing Square Holdings ended 2019 with a net performance of 58.1%, the company said in its December portfolio update.
Some of the outperformance — the S&P 500 returned 29% in the same time frame — was credited to none other than the Oracle of Omaha, Warren Buffett. In 2019, Ackman bet big on Berkshire Hathaway, run by Buffett; in August, Berkshire Hathaway shares accounted for roughly 11% of the fund's net asset value, Ackman told investors.
But Ackman had other bets in 2019 that also fueled the outsized returns for the fund.
Those other bets included fast-food companies Starbucks and Chipotle, home-improvement retailer Lowe's, and hospitality company Hilton Worldwide Holdings. In December, the fund announced it had purchased a stake in life-sciences equipment maker Agilent Technologies.
Here are the top eight publicly disclosed positions in Ackman's hedge fund, as of September 30, according to SEC filings. The holdings are ranked from lowest to highest value.
8. The Howard Hughes Corp
Ticker:HHC
Total shares held by Pershing Square: 1,194,793
Investment value at purchase: $155 million
Source: SEC filings
7. Agilent Technologies
Ticker:A
Total shares held by Pershing Square: 2,916,103
Investment value at purchase: $223 million
Source: SEC filings
6. Starbucks
Ticker: SBUX
Total shares held by Pershing Square: 9,313,890
Investment value at purchase: $823 million
Source: SEC filings
5. Berkshire Hathaway
Ticker: BRK.B
Total shares held by Pershing Square: 4,015,594
Investment value at purchase: $835 million
Source: SEC filings
4. Lowe's
Ticker: LOW
Total shares held by Pershing Square: 8,613,212
Investment value at purchase: $947 million
Source: SEC filings
3. Hilton Worldwide Holdings
Ticker: HLT
Total shares held by Pershing Square: 10,556,805
Investment value at purchase: $982 million
Source: SEC filings
2. Restaurant Brands International
Ticker: QSR
Total shares held by Pershing Square: 15,084,304
Investment value at purchase: $1 billion
Source: SEC filings
1. Chipotle Mexican Grill
Ticker: CMG
Total shares held by Pershing Square: 1,724,310
Investment value at purchase: $1.4 billion
Source: SEC filings