10 Stocks Bill Ackman Loves at Hedge Fund Pershing Square

Bill Ackman’s hedge fund Pershing Square has made big bets in consumer retail stocks (NYSE:XRT) and bank stocks (NYSE:XLF).  Following is new information on his fund’s top 10 holdings.

  • Alexander & Baldwin, Inc. (NYSE:ALEX): On 3/31/11, Pershing Square reported holding 3,561,943 shares with a market value of $162,602,703. This comprised 2.92% of the total portfolio. On 6/30/11, Pershing Square held 3,561,943 shares with a market value of $171,543,174. This comprised 2.78% of the total portfolio. The net change in shares for this position over the two quarters is 0. About the company: Alexander & Baldwin, Inc., through its subsidiaries, is involved in ocean transportation, property development and management, and food products businesses. The Company carries freight, primarily between various United States Pacific Coast ports, Hawaii ports, and Guam. Alexander also develops real property in Hawaii and on the mainland, as well as grows sugar cane and coffee.
  • Citigroup, Inc. (NYSE:C): On 3/31/11, Pershing Square reported holding 146,707,777 shares with a market value of $648,448,386. This comprised 11.65% of the total portfolio. On 6/30/11, Pershing Square held 23,520,741 shares with a market value of $979,403,641. This comprised 15.90% of the total portfolio. The net change in shares for this position over the two quarters is -123,187,036. About the company: Citigroup Inc. is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers around the world. The Company’s services include investment banking, retail brokerage, corporate banking, and cash management products and services.
  • Corrections Corporation of America (NYSE:CXW): On 3/31/11, Pershing Square reported holding 4,417,100 shares with a market value of $107,777,238. This comprised 1.94% of the total portfolio. On 6/30/11, Pershing Square held 0 shares with a market value of $0. This comprised 0.00% of the total portfolio. The net change in shares for this position over the two quarters is -4,417,100. About the company: Corrections Corporation of America provides detention and corrections services to governmental agencies. The Company owns correctional and detention facilities in the United States and the United Kingdom. Services include design, construction, ownership, renovation, and management of new or existing jails and prisons, as well as long distance inmate transportation services.
  • Family Dollar Stores Inc. (NYSE:FDO): On 3/31/11, Pershing Square reported holding 5,764,187 shares with a market value of $295,818,075. This comprised 5.31% of the total portfolio. On 6/30/11, Pershing Square held 11,094,493 shares with a market value of $583,126,567. This comprised 9.46% of the total portfolio. The net change in shares for this position over the two quarters is 5,330,306. About the company: Family Dollar Stores, Inc. is a national discount store chain. The Company operates stores located throughout the United States that offer merchandise that includes consumables, home products, apparel and accessories, seasonal and electronics.
  • Fortune Brands Inc. (NYSE:FO): On 3/31/11, Pershing Square reported holding 16,668,636 shares with a market value of $1,031,621,872. This comprised 18.53% of the total portfolio. On 6/30/11, Pershing Square held 17,170,033 shares with a market value of $1,094,933,012. This comprised 17.77% of the total portfolio. The net change in shares for this position over the two quarters is 501,397. About the company: Fortune Brands, Inc. is a holding company with operating companies that offers home and hardware products, produces wines and spirits, and offers golf products.
  • General Growth Properties Inc. (NYSE:GGP): On 3/31/11, Pershing Square reported holding 71,802,853 shares with a market value of $1,111,508,132. This comprised 19.96% of the total portfolio. On 6/30/11, Pershing Square held 72,233,712 shares with a market value of $1,205,580,692. This comprised 19.57% of the total portfolio. The net change in shares for this position over the two quarters is 430,859. About the company: General Growth Properties, Inc. is a real estate investment trust (REIT). The Company owns, operates, leases, acquires and expands enclosed regional shopping mall centers throughout the United States. The REIT, with its operating partnership also has unconsolidated equity interests in other regional mall companies.
  • Greenlight Capital Re, Ltd. (NASDAQ:GLRE): On 3/31/11, Pershing Square reported holding 250,000 shares with a market value of $7,052,500. This comprised 0.13% of the total portfolio. On 6/30/11, Pershing Square held 250,000 shares with a market value of $6,572,500. This comprised 0.11% of the total portfolio. The net change in shares for this position over the two quarters is 0. About the company: Greenlight Capital Re, Ltd. offers property and casualty reinsurance with a differentiated reinsurance and investment strategy.
  • Howard Hughes Corporation (NYSE:HHC): On 3/31/11, Pershing Square reported holding 3,568,017 shares with a market value of $252,044,719. This comprised 4.53% of the total portfolio. On 6/30/11, Pershing Square held 3,568,017 shares with a market value of $0. This comprised 0.00% of the total portfolio. The net change in shares for this position over the two quarters is 0. About the company: Howard Hughes Corporation develops real estate. The Company develops master planned communities, shopping malls, and mixed-use developments throughout the United States.
  • J. C. Penney Company, Inc. (NYSE:JCP): On 3/31/11, Pershing Square reported holding 34,919,071 shares with a market value of $1,253,943,834. This comprised 22.52% of the total portfolio. On 6/30/11, Pershing Square held 38,715,571 shares with a market value of $1,337,235,858. This comprised 21.70% of the total portfolio. The net change in shares for this position over the two quarters is 3,796,500. About the company: J.C. Penney Company, Inc., through a subsidiary, operates department stores in the United States and Puerto Rico. The Company provides merchandise and services to consumers through department stores, catalog departments, and the Internet. JCPenney markets primarily family apparel, jewelry, shoes, accessories, and home furnishings.
  • Kraft Foods Inc. (NYSE:KFT): On 3/31/11, Pershing Square reported holding 22,239,265 shares with a market value of $697,423,364. This comprised 12.52% of the total portfolio. On 6/30/11, Pershing Square held 22,230,989 shares with a market value of $783,197,732. This comprised 12.71% of the total portfolio. The net change in shares for this position over the two quarters is -8,276. About the company: Kraft Foods Inc. is a food and beverage company. The Company manufactures and markets packaged food products, including snacks, beverages, cheese, convenient meals and various packaged grocery products. Kraft sells its products throughout the world.

(Note: Selected financial data are sourced from Google Finance.  Data on the contents of the fund’s 13F filing are sourced from whalewisdom.com.  Positions in warrants, preferred shares, other convertible securities, puts, and calls are not considered.  All data are assumed to be accurate.)

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