Bill Ackman's Pershing Square adds to Alphabet stake in Q2, trims Chipotle, Lowe's
Matthew Eisman
Billionaire investor Bill Ackman's Pershing Square Capital Management added to its stake in Google-parent Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) in Q2 2023, while continuing to reduce its holdings in restaurant chain Chipotle Mexican Grill (NYSE:CMG) and home improvement retailer Lowe's Companies (NYSE:LOW).
Pershing Square disclosed the information in its latest 13F filing for the three months ended June 30, 2023, published on Monday.
The hedge fund raised its position in Alphabet's (GOOG) class C capital stock to 9.38M shares in Q2, after disclosing a stake of 8.07M in Q1 2023. It held 2.19M shares of Alphabet's (GOOGL) class A capital stock in Q2, unchanged from Q1.
Additionally, Pershing Square raised its stake in hotel giant Hilton Worldwide (HLT) to 9.33M shares from about 9.30M, and in real estate developer Howard Hughes (HHC) to 16.57M from 15.98M.
Ackman's fund trimmed its stake in Chipotle (CMG) to around 954K shares from 1.03M, and in Lowe's (LOW) to 7.47M shares from 10.04M. Pershing also cut its position in Burger King-parent Restaurant Brands International (QSR) to 23.35M shares from 24.19M.
The 13F filing also showed that Pershing Square held about 15.10M shares in railroad operator Canadian Pacific Kansas City (CP). Canadian Pacific Railway and Kansas City Southern completed their merger in Q2, prior to which Pershing held 15.24M shares in Canadian Pacific.
Bill Ackman is known for his activist wins on companies such as Canadian Pacific, Fortune Brands and Allergan. According to Forbes, Ackman's real time net worth is $3.6B. 
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