Ackman's Pershing Square Loads Up On Visa (V), Sells Dr Pepper (DPS) and Wendy's (WEN)
More News related to ABK
- Unusual 11 Mid-Day Movers 11/18: ABK, LZB, NLST, LDK Higher; ONCY, NANO, EXEL, VRUS Lower
- Morning Movers 11/18: ABK, CHS, LDK, RDN Higher; ONCY, NANO, EXEL, ADSK, CNQR Lower
- Ambac (ABK) Shares Rallying Amid Expected $440M Tax Refund in Q4
- Morning Movers 11/13: CNIC, TSTC, NLST, AGO, SLI Higher; LIME, GMET, BIOF, DISK, MRGE, SSY Lower
- Ambac Financial (ABK) Shares Sink on Bankruptcy Warnings
More News related to AIG
- Beacon's Fixed Annuity Premium Study Reports Third Quarter's Fixed Annuity Sales
- Audit Finds Fed Failed To Use Its Leverage in AIG Bailout
- Top 10 News Items 11/09-11/13: HP/3Com Strike a Massive Tech Deal; Intel to Pay AMD $1.25B to Settle Disputes; Wal-Mart Reports Solid Q3 Results
- CombiMatrix Corporation Reports Third Quarter 2009 Financial Results
- AIG's Benmosche Said He Is "Commited"
More News related to BGP
- Borders Names Bill Dandy Senior Vice President, Marketing
- Borders(R) is Exclusive Book Retailer for the RomCon(TM) Annual Romance Readers' Conference, July 9-11, 2010
- Sarah Palin to Sign 'Going Rogue: An American Life' at Borders Columbus Nov. 20
- Sarah Palin to Sign 'Going Rogue: An American Life' at Borders Rochester Nov. 21
- Sarah Palin to Sign 'Going Rogue: An American Life' at Borders Noblesville Nov. 19
More News related to Insider Trades
- Omnicell Introduces Anywhere RN for Remote Medication Management to Improve Clinician Efficiency in Hospitals
- Track Data (TRAC) to Voluntary Delist from NASDAQ and Deregister Common Stock
- Highlights From Campbell Soup (CPB)'s Q1 Conference Call: Sales Growth Guidance Increased 1%
- WPCS International (WPCS) Announces $6.3M In New Projects
- Highlights From TSN's Q4 Conference Call: Opportunities In High Margin Category
Bill Ackman's Pershing Square hedge fund released its 13F for the quarter ended December 31, 2008 yesterday. Notably, Ackman bought more of the credit card processor Visa (NYSE: V) but sold out of MasterCard (NYSE: MA). He also significantly cut his stakes in Dr Pepper Snapple (NYSE: DPS) and Wendy's/Arby's (NYSE: WEN).
Ackman had some big winner in 2008, but also some big losers. Winners included short sales on MBIA (NYSE: MBI), Ambac (NYSE: ABK), Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) which were all destroyed from the credit/housing blow-up. Winning longs included Longs Drugs, which was sold to CVS (NYSE: CVS). Ackman's losers centered mainly around retail. Ackman's special fund to buy shares in Target (NYSE: TGT) has been destroyed, down a reported 90%. Other retail positions in Borders (NSYE: BGP) and Barnes and Noble (NYSE: BKS) were also big losers.
Summary of Major Changes in Ackman's Pershing Square Portfolio:
- Showed new large stake in General Growth Properties (NYSE: GGP) (already known through 13D)
- Raised stake in Visa (NYSE: V) by over 4 million share to 7.1 million shares
- Changes in Target (NYSE: TGT) position
- Slightly bumped stake in EMC (NYSE: EMC) to 58.6 million shares, or about 2.9% of the company
- Lowered stake in Dr Pepper Snapple (NYSE: DPS) by over 11 million shares to 10.8 million shares
- Lowered stake in Wendy's/Arby's (NYSE: WEN) by over 8.5 million shares to 47 million shares.
- Sold out of 570K share stake of MasterCard (NYSE: MA)
- Sold out of AIG (NYSE: AIG) (this was already known)
- Sold out of Barnes and Noble (NYSE: BKS) (this was already known)
- Maintained Borders (NYSE: BGP) stake (already known through 13D)
Two of Ackman's holdings, Longs Drug (NYSE: LDG) and Wachovia (NYSE: WB), were sold during the quarter.
Related Categories
Insider TradesInsiders' Blog
Stocks Mentioned
+0.02
-0.02Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
