13F filing recap · Q2 2020

What did Pershing Square Capital Management buy in Q2 2020?

Reported stock-position changes between this filing and the previous one.

Stock value

$7.75B

Positions

Estimated turnover

23.8%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Increased positions

LOWLowe’s Companies, Inc.$1.72Breported value+456.4K shares+3.7%QSRRestaurant Brands International Inc.$1.37Breported value+10.03M shares+66.5%

Reduced positions

HHCHoward Hughes Holdings Inc.$567.19Mreported value-1.28M shares-10.5%

Exited positions

BRK.BBerkshire Hathaway Inc$997.04Mprior reported value-5.45M shares-100.0%BXBlackstone Inc.$25.00Mprior reported value-548.5K shares-100.0%PKPark Hotels & Resorts Inc.$5.36Mprior reported value-677.9K shares-100.0%