Bill Ackman’s 13f filing is always a fun one because he keeps very few positions that he believes strongly in on his portfolio; he’s “activist investing.”
Last quarter, in Q1, Ackman’s Pershing Square fund sold out completely of a ~$80 million stake in Hyatt and a ~$5 million investment in Automatic Data Processing (ADP).
He picked up a huge new investment in Kraft, around $1 billion, which we knew about already because he made a big case for why he thinks the Kraft and Cadbury merge will be successful.
We also discovered Pershing’s ~$600 million investment in YUM brands (lots of delicious food brands are owned by YUM like, Pizza Hut, Taco Bell, and KFC – maybe Ackman knew the Double Down would be a hit?? ), which they made sometime in Q4 but only disclosed in a 13F amendment last month.
Marketfolly has a breakdown of how Pershing’s entire Q1 portfolio is made up:
1. Target (TGT): 32.79%
2. Kraft Foods (KFT): 29.89%
3. Yum Brands (YUM): 17.56%
4. General Growth Properties (GGP): 11.62%
5. Corrections Corp of America (CXW): 6.55%
6. Landry’s Restaurants (LNY): 0.84%
7. Borders Group (BGP): 0.55%
8. Greenlight Capital Re (GLRE): 0.20%