Ackman Opens A New Stake In General Motors And Gets Deeper Into Property

bill ackman

Bill Ackman doesn’t want his firm, Pershing Square, to be labelled a hedge fund. Nonetheless, like the rest of the hedge fund universe, the firm has just filed its latest 13F.

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.

JC Penney remains his top holding.

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

Here’s more 13F coverage >

Pershing Squares Q4 holdings:

pershing q4

Photo: SEC

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