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Pershing Square Holdings's investment thesis on Chipotle Mexican Grill ($CMG) — Q4 2025 | Buyside Digest

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$CMGNYSEChipotle Mexican Grill

BEAR

Pershing Square Holdings—CMG

Fund Letter

Q4 2025

Published February 18, 2026

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$37.43USD

+1.3% vs last month

$37.54Pitched

-0.3% since pitch

Market Cap$42.7B

P/E (TTM)N/A

52-Wk RangeN/A

Div. YieldN/A

Technical Chart

From the Fund Letter

Pershing Square Holdings generated a 20.9% NAV return and a 33.9% total shareholder return in 2025, outperforming the S&P 500 (17.9%). The portfolio underwent...

— William A. Ackman

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What other investors think about $CMG, and what else Pershing Square Holdings is buying.

Other pitches on $CMG

Other investors who've written on Chipotle Mexican Grill

Rowan Street CapitalBULL

Pitched Mar 31, 2025

The manager highlights Chipotle as an outstanding company with durable competitive advantages and a long runway for growth, illustrating the costly mistake of treating compounding compounders as short-term trades.

View all $CMG pitches →