Pershing Square's Q2 sole exit was Netflix, while maintaining Lowe's, Howard Hughes
Fabrice Cabaud


Bill Ackman's Pershing Square Capital Management disclosed in a SEC filing that it exited its stake in Netflix (NFLX) during the second quarter ended June 30.
Netflix had formed ~11.21% of Pershing's portfolio dollar value. The fund had picked up ~3.1M shares of the streaming site in Q1 and sold the stake in April losing about $435M.

The fund's recent portfolio value is ~$7.46B.
Pershing also reduced its positions in Chipotle Mexican Grill (CMG) by ~0.85% to ~1.11M shares; Hilton Worldwide (HLT) by ~0.44% to 9.90M shares. The fund also lowered stake in Domino's Pizza (DPZ) and Restaurant Brands International (QSR).
Pershing maintained position in Howard Hughes (HHC), Lowe's Companies (LOW) and Canadian Pacific Railway (CP).