In Q4 Ackman upped his stake in the once- bankrupt mall developer, General Growth Properties — not surprising since he considers it “
“the best bet of [his] life.” And it was by far his biggest increase.
He also added to his stakes in Fortune Brands and Citi.
And like David Tepper’s Appaloosa, Pershing opened up a stake in General Motors.
He sold out of Landrys, and stripped down stakes in Kraft, Target, Corrections Corp and Automatic Data Processing.
Pershing Square opened a stake in:
- GENERAL MOTORS ~ $261 million (~7,000,000 shares)
- HOWARD HUGHES ~$190 million (~3,500,000 shares)
Pershing Square increased stakes in:
- GENERAL GROWTH ~$1 billion (added ~46,000,000 shares to take stake to ~70,000,000 shares)
- FORTUNE BRANDS ~$1 billion (added 9,200,000 shares to take stake to 16,600,000 million shares)
- CITIGROUP ~$719 million (added ~38,000 shares to take stake to ~146,000,000 shares)
Pershing Square decreased stakes in:
- KRAFT FOODS ~$594 million (~19,000,000 shares)
- TARGET ~$397 million (~7,400,000 shares)
- CORRECTIONS CORP ~$200 million (~7,800,000 shares)
- AUTOMATIC DATA ~$70 million (~1,400,000 shares)
Pershing Square sold out of:
- Landry’s Restaurants
Pershing Squares Q4 holdings: