Ackman's Pershing Square Sells Kraft, Family Dollar Stakes

Loading...
Loading...
Bill Ackman's Pershing Square Capital sold stakes in Dow component Kraft
KFT
, the largest U.S. food company, during the second quarter, according to a 13F filing with the Securities and Exchange Commission. The hedge fund also eliminated stakes in discount retailer Family Dollar
FDO
and Fortune Brands
FBHS
. The filing also indicates
Pershing Square trimmed its position in Citigroup C
. Pershing Square maintained a position in property firm Alexander & Baldwin
ALEX
at the end of June. On June 29, 2012, the Pershing Square funds were entitled but had not yet received one share of Alexander & Baldwin. New and one share of Matson for each share of Alexander & Baldwin Holdings held by such funds, according to the 13F. Pershing still holds stakes in spirits maker Beam
BEAM
, Canadian Pacific Railway
CP
, Howard Hughes
HHC
and J.C. Penney
JCP
. The firm's new position of note for the quarter was Procter & Gamble
PG
, the world's largest consumer staples firm. Pershing's position in Procter & Gamble has prompted
speculation regarding Ackman's intent
with investors wondering if he will push for management change and/or spin-offs of non-essential brands.
Posted In: Long IdeasNewsShort IdeasHedge FundsMovers & ShakersTopicsAfter-Hours CenterMarketsTrading IdeasGeneralBill AckmanPershing Square Capital
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...