Pershing Square Holdings, an investment holding company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund generated NAV performance of -26% at the end of the first half, which was slightly higher than the total shareholder returns of -27.3%. Through August 16, 2022, the fund returned -10.8% compared to a -8.8% return for the S&P 500 index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Pershing Square Holdings discussed stocks like Domino’s Pizza, Inc. (NYSE:DPZ) in the second quarter investor letter. Headquartered in Ann Arbor, Michigan, Domino’s Pizza, Inc. (NYSE:DPZ) is a pizza company that operates internationally. On September 15, 2022, Domino’s Pizza, Inc. (NYSE:DPZ) stock closed at $349.51 per share. One-month return of Domino’s Pizza, Inc. (NYSE:DPZ) was -13.74% and its shares lost 30.59% of their value over the last 52 weeks. Domino’s Pizza, Inc. (NYSE:DPZ) has a market capitalization of $12.542 billion.
Here is what Pershing Square Holdings specifically said about Domino’s Pizza, Inc. (NYSE:DPZ) in its Q2 2022 investor letter:
“Since our last update, Domino’s Pizza, Inc. (NYSE:DPZ)’s near-term business performance has shown meaningful improvement, including three-year stacked growth for the second quarter of 17% in the U.S., up 560 basis points sequentially. This improvement was driven by the full impact of its recent pricing actions, operational changes leading to improved staffing and labor utilization, and the return of its signature Boost Week promotion. These positive developments caused a significant recovery in Domino’s share price and its valuation increased to more than 28 times our estimate of next twelve months’ earnings. In light of the company’s relatively high valuation in the context of a volatile market environment, we decided to exit our investment to raise cash for alternative investment opportunities. We have enormous respect for Domino’s and its management team led by Russell Weiner, and we expect the company to continue its long track record of success.”
Domino’s Pizza, Inc. (NYSE:DPZ) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios were held by Domino’s Pizza, Inc. (NYSE:DPZ) at the end of the second quarter which was 27 in the previous quarter.
We discussed Domino’s Pizza, Inc. (NYSE:DPZ) in another article and shared buy-the-dip restaurant stocks to invest in. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
