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

Aug. 16, 2022 1:45 PM ETNFLX, LOW, CMG, CP, DPZ, HHC, HLT, QSRBy: Ravikash, SA News Editor6 Comments

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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).

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