Tracking Bill Ackman's 13F: A Guide to Pershing Square

Learn how to locate, read, and analyze Bill Ackman's 13F filings for insights into his concentrated hedge fund bets.

You can find Bill Ackman's 13F filings on the SEC's EDGAR database or through financial news platforms that track institutional investments. These filings provide insights into the holdings of Pershing Square Capital Management, giving investors a glimpse into Ackman's investment strategy.

Understanding these filings is crucial for retail investors. They reveal the stocks that Ackman is buying and selling, often reflecting his concentrated bets. By analyzing these changes, you can learn how to apply similar strategies to your own investing approach.

Key takeaways

• Find Bill Ackman's latest 13F filings on the SEC website.
• Understand the key components of a 13F filing, such as holdings and changes.
• Analyze concentrated bets to gauge Ackman's investment strategy.
• Use tools and resources to track changes in his portfolio over time.

Where to Find Bill Ackman's 13F Filings

To find Bill Ackman's 13F filings, start by visiting the SEC's EDGAR database. This resource contains all public filings made by investment managers, including 13F reports. Here’s how to locate Ackman’s submissions:

1. Go to the SEC EDGAR database: https://www.sec.gov/edgar/searchedgar/companysearch.html.
2. In the search box, type “Pershing Square Capital Management,” the name of Ackman's investment firm.
3. Review the search results for the most recent Form 13F submissions. These reports detail the securities held by the fund.

The 13F filings are due within 45 days after the end of each quarter. You can expect to find updated filings for the first quarter by mid-May, for the second quarter by mid-August, for the third quarter by mid-November, and for the fourth quarter by mid-February of the following year.

Here is a quick overview of the timeline for 13F submissions:

By regularly checking these filings, you can stay informed about Ackman's investment choices. For more details on how to find the latest 13F filings from hedge funds, check out this link.

Understanding 13F Filings

A 13F filing is a quarterly report that institutional investment managers must submit to the SEC. It provides a snapshot of their investment holdings. Each filing includes details about stock holdings, their values, and the number of shares owned. This information can help you understand the investment strategies of major funds like Pershing Square.

Each 13F filing covers a specific reporting period, typically ending on the last day of March, June, September, or December. The filing is due within 45 days of the reporting period's end. For example, the 13F for the quarter ending March 31 must be filed by May 15.

When reviewing a 13F, distinguish between new positions and sold positions. New positions are stocks that the manager has recently purchased, while sold positions are those that have been completely divested. This distinction can indicate changes in investment strategy or market outlook.

Here’s a quick overview of what you will find in a 13F filing:

Understanding these components can help you analyze an investor's strategy and potential market movements.

Analyzing Ackman's Concentrated Bets

Bill Ackman runs a concentrated portfolio through Pershing Square. You can see these holdings in his quarterly 13F filings. A concentrated bet means he puts a large portion of capital into a small number of companies. When you review the filing on the SEC website, look for the Value and Shares columns. A high percentage of the total portfolio value in one stock shows high conviction.

Compare the current 13F with the previous quarter. The SEC requires institutional investment managers to file these reports within 45 days of the end of each calendar quarter. Look for the Change in Shares column in tracking tools. If the number of shares increased, the fund added to the position. If it decreased, they trimmed the stake. A New entry means a fresh position. A Deleted entry means they exited the entire holding.

Ackman often targets specific industries like consumer goods and retail. Use the 13F to track which sectors dominate his portfolio. This helps you understand his current focus. Do not view these filings as immediate signals. The data reflects the portfolio at the end of the previous quarter. Use it to study his long-term strategy instead of reacting to old trades. This approach helps you identify the types of businesses he prefers to own for several years.

Using Tools to Track Changes

Investors must act fast when Pershing Square files a report. The SEC EDGAR database is the primary source for these documents. You can subscribe to email alerts for specific CIK numbers on the SEC website. Use CIK 0001336528 for Pershing Square Capital Management. This ensures you see the filing the moment it becomes public.

Financial news platforms provide context. Outlets like Reuters or Bloomberg publish summaries shortly after a 13F release. These reports compare new filings against previous quarters. They show which stocks Ackman exited and where he increased his position. This saves time for investors who prefer not to read raw data tables.

Tracking tools offer a visual way to monitor portfolio shifts. Platforms like WhaleWisdom or Bourse display historical data and concentration levels. You can see the percentage change in a holding without doing the math yourself.

13F filings show data from the end of the previous quarter. They have a 45-day delay. They do not show trades made today. To see more recent activity, watch for Form 4 filings. These appear within two business days if Ackman owns more than 10% of a company or sits on its board. Using these tools together helps you see his moves clearly.

Learning from Ackman's Investment Strategy

Ackman targets companies with durable competitive advantages. Retail investors study his long-term holdings to see how he identifies value. His multi-year positions in large consumer brands show a preference for predictable cash flows. He often buys when a company faces temporary operational hurdles. Investors can track entry prices in older 13F filings to understand his entry points.

Macroeconomic trends influence his moves. Ackman adjusts his portfolio based on interest rates and inflation. 13F filings do not show short positions or credit hedges. They do reveal which sectors he trusts during economic shifts. He often moves capital toward companies that can raise prices without losing customers.

Concentration is a core part of his strategy. Pershing Square often holds fewer than ten stocks. This approach creates specific risks for those who track his trades.

A concentrated portfolio requires deep conviction. Ackman conducts extensive research before buying. Retail investors must recognize that copying a 13F trade does not provide the same hedging or research depth. Observing his exits is just as vital as watching his entries. When he sells a long-term winner, it may signal a shift in his view of the broader economy.

FAQ

What is a 13F filing?

A 13F filing is a quarterly report required by the SEC for institutional investment managers with at least 100 million dollars in assets under management. These managers must disclose their long positions in U.S. equity securities. This filing provides transparency into the holdings of large funds. It helps retail investors see where major players like Pershing Square allocate their capital. The report lists stock names and share counts.

How often do hedge funds file 13F reports?

Hedge funds file 13F reports four times per year. The SEC requires these disclosures within 45 days after the end of each calendar quarter. This means you see the data for the periods ending in March, June, September, and December. Investors use these dates to track when new data becomes public. Keep in mind that the information reflects holdings from the end of the previous quarter.

What information can I find in Bill Ackman's 13F filings?

Bill Ackman's 13F filings list the names of publicly traded stocks held by Pershing Square Capital Management. You can see the number of shares owned and the total market value of each position at the end of the quarter. The report also identifies the class of security, such as common stock or options. This data reveals the specific companies Ackman chooses for his concentrated portfolio strategy.

How can I track changes in Ackman's portfolio over time?

You can track changes by comparing the current 13F filing to the report from the previous quarter. Look for increases or decreases in share counts for existing positions. Note any new stocks added to the list or any companies that disappeared entirely. Using a platform like Bourse allows you to view these historical shifts side by side. This comparison shows whether Ackman is buying or selling.

Bourse provides financial data and editorial information, parts of which are generated by AI. This page is for general education only. It is not personalised investment advice or a recommendation to buy or sell any financial instrument. Make your own decisions.