Bill Ackman's Pershing Square Q4 13F Breakdown: Takes Some Profit in Target, Adds Positions in Hyatt, Landry's

Bill Ackman's Pershing Square issued its 13F for the quarter ended December 31, 2009 yesterday after the market closed.

The value of the disclosed portfolio is down from $3.13 billion at September 30, 2009 to $1.41 billion at December 31, 2009, but it should be noted that cash, short positions and various other securities are not required to be disclosed in the 13F filing. Also notably, Ackman's large position in Kraft (NYSE: KFT) was not included in the 13F filing as he was buying shares sometime this year.

Ackman took new positions, interestingly, in Hyatt Hotels, a recent IPO, and Landry's, which entered a merger agreement with the company's Chairman and CEO Tilman Fertitta on November 3 of last year. The fund manager also sold a big chunk of his position in Target, Pershing Squares (still) largest holding.

New Stakes:

• Landry's Restaurants (NYSE: LNY) 1,554,255 shares
  
• Hyatt Hotels (NYSE: H) 2,766,958 shares

Raised Stakes:

• Corrections Corp. of America (NYSE: CXW) from 7,355,620 shares to 10,936,672 shares

Maintained Stakes:

• Borders Group (NYSE: BGP) 10,597,980 shares
  
• Greenlight Capital Re (Nasdaq: GLRE) 250,000 shares

Lowered Stakes:

• ADP (NYSE: ADP) from 6,118,353 shares to 114,482 shares
  
• Target (NYSE: TGT) from 26,012,799 shares to 20,790,815 shares

Liquidated Stakes:

• EMC Corp. (NYSE: EMC) from 58,678,780 shares to 0 shares
  
• McDonald's (NYSE: MCD) from 8,245,412 shares to 0 shares

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