Bill Ackman's Pershing Square trims Hilton stake, boosts Canadian Pacific
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Pershing Square Capital Management reduced its stake in Hilton Worldwide (NYSE:HLT) to 9.95M shares from ~12.6M, during the first quarter of 2022, according to its latest 13F filing.
It increased its stake in Canadian Pacific Railway (CP) to 2.94M shares from 2.81M.

The filing also reflects the company's acquisition of 3.1B shares in Netflix (NASDAQ:NFLX) during the first quarter, a period in which the stock fell 38%. In April, Bill Ackman, who founded Pershing Square, disclosed that the firm sold its stake in Netflix (NFLX). Bloomberg estimated he lost about $435M on the investment.
The portfolio's biggest investment, by dollar value, is Lowe's (NYSE:LOW), with 10.2M shares, valued at ~$2.06B at March 31, 2022.
In March, Ackman said he has permanently retired from activist short campaigns.