William Ackman's hedge fund Pershing Square Capital Management has a good performance in first quarter with a net gain of 5.62% (see performance of other funds of Q1). Let's have at his portfolio for the first quarter.
Total Market Value: $ 3.32 Billion
Top Sectors: 70% Services
30% Consumer-non cyclical
Top 8 positions
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%
Recent Trades:
5/21/10
buy
General Growth Properties [GGP]
$13.12
5/21/10
buy
Kraft Foods Inc [KFT]
$29.69
5/21/10
buy
Yum! Brands [YUM]
$40.15
5/21/10
sell
Automatic Data Process [ADP]
$40.28
5/21/10
sell
Hyatt Hotels Corp [H]
$37.85
2/19/10
buy
Hyatt Hotels Corp [H]
$29.97
2/19/10
buy
Landry Restaurant [LNY]
$20.50
2/19/10
sell
EMC Corp [EMC]
$17.81
2/19/10
sell
Mcdonalds Corp [MCD]
From the Portfolio, we can see that Ackman was very long on consumers goods and retailers. It increased its stake in Kraft and Yum Brands during the filling in May. He was very confident that the economy is in recovery and hence consumers will soon increase their spending.
Recently, we learned that Target's sales outperformed the industry average in May (see report here) and Bill also started a position in Citi group.
Here is an interview with Bill Ackman on why he is interested in the Citi.
Taken from Alphaclone, "Pershing Square is a New York based activist, fundamental value hedge fund founded by William Ackman in 2003. In addition to being a Founder and Trustee at Pershing Square Capital Management, L.P, Mr. Ackman is also a Co-Founder and Chief Executive Officer at Gotham Partners Management Co., LLC and has co-managed the partnership since its inception. Mr. Ackman has been the Co-Investment Manager at Gotham LP, Gotham III LP, and Gotham Partners International Limited since January 1993."
Total Market Value: $ 3.32 Billion
Top Sectors: 70% Services
30% Consumer-non cyclical
Top 8 positions
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%
Recent Trades:
5/21/10
buy
General Growth Properties [GGP]
$13.12
5/21/10
buy
Kraft Foods Inc [KFT]
$29.69
5/21/10
buy
Yum! Brands [YUM]
$40.15
5/21/10
sell
Automatic Data Process [ADP]
$40.28
5/21/10
sell
Hyatt Hotels Corp [H]
$37.85
2/19/10
buy
Hyatt Hotels Corp [H]
$29.97
2/19/10
buy
Landry Restaurant [LNY]
$20.50
2/19/10
sell
EMC Corp [EMC]
$17.81
2/19/10
sell
Mcdonalds Corp [MCD]
From the Portfolio, we can see that Ackman was very long on consumers goods and retailers. It increased its stake in Kraft and Yum Brands during the filling in May. He was very confident that the economy is in recovery and hence consumers will soon increase their spending.
Recently, we learned that Target's sales outperformed the industry average in May (see report here) and Bill also started a position in Citi group.
Here is an interview with Bill Ackman on why he is interested in the Citi.
Taken from Alphaclone, "Pershing Square is a New York based activist, fundamental value hedge fund founded by William Ackman in 2003. In addition to being a Founder and Trustee at Pershing Square Capital Management, L.P, Mr. Ackman is also a Co-Founder and Chief Executive Officer at Gotham Partners Management Co., LLC and has co-managed the partnership since its inception. Mr. Ackman has been the Co-Investment Manager at Gotham LP, Gotham III LP, and Gotham Partners International Limited since January 1993."
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