Pershing Square added Google, Hilton; trimmed Lowe's, Chipotle

August 14, 2023 4:57 PM EDT

Investing -- Pershing Square Capital Management, run by Bill Ackman, raised its stakes in Alphabet Inc Class C (NASDAQ: GOOG), Howard Hughes (NYSE: HHC) Holdings, and Hilton Worldwide Holdings Inc (NYSE: HLT), according to its second quarter disclosure.

Its holding of Google’s class C shares rose to about 9.4 million shares at the end of June, from 8M at the end of March. Its Howard Hughes holdings rose to 16.6M, and Hilton rose to just over 9.3M.

Pershing’s stake in Alphabet Inc Class A (NASDAQ: GOOGL) remained the same at around 2.19M shares.

The investment manager reported lower stakes in Lowe’s Companies Inc (NYSE: LOW), to 7.5M shares from over 10M. It also reported reduced stakes in Burger King parent Restaurant Brands International Inc (NYSE: QSR) (23.3M shares from 24.2M shares), Chipotle Mexican Grill Inc (NYSE: CMG)(953,000 shares from over 1M), and Canadian Pacific Kansas City Limited (NYSE: CP) (15.1M from 15.2M).

The quarterly filing reflects holdings as of the end of the previous quarter, with a 45 day lag, so the positions could have shifted since the end of June.

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