CMG - How Much Chipotle Stock Does Billionaire Bill Ackman Own?
2024-07-10 04:10:00 ET
Based on sales, it's clear plenty of people enjoyed a burrito, salad, or quesadilla at Chipotle Mexican Grill (NYSE: CMG) this year. Billionaire hedge fund manager Bill Ackman is also enjoying the restaurant chain, but not necessarily for its food. It's been a great investment for Ackman's Pershing Square Capital Management and now stands as its top holding.
Pershing Square's latest 13F regulatory filing (which details the investment firms' holdings) shows Ackman and his crew owned nearly 744,000 Chipotle shares on May 15. The market value of those shares was nearly $2.2 billion then, giving the fast-casual giant the top spot in the portfolio. Somewhat atypically for an investment firm, Pershing Square likes to maintain hefty stock positions that hover around the same value. Pershing Square's holdings in tech giant Alphabet amount to almost $2.1 billion.
Like many prominent -- and very wealthy -- investors Ackman doesn't shy away from risky bets that can pay off monumentally. For all its business success, Chipotle carries a fair bit of risk as an investment.
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How Much Chipotle Stock Does Billionaire Bill Ackman Own?