Ackman's Pershing Square Sells Kraft, Family Dollar Stakes

By Gordon Wilcox,

Shutterstock photo

Bill Ackman's Pershing Square Capital sold stakes in Dow component Kraft (NASDAQ: 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 (NYSE: FDO ) and Fortune Brands (NYSE: FBHS ).

The filing also indicates Pershing Square trimmed its position in Citigroup (NYSE: C ). Pershing Square maintained a position in property firm Alexander & Baldwin (NYSE: ALEX ) at the end of June.

Pershing still holds stakes in spirits maker Beam (NYSE: ), Canadian Pacific Railway (NYSE: ), Howard Hughes (NYSE: ) and J.C. Penney (NYSE: ). The firm's new position of note for the quarter was Procter & Gamble (NYSE: ), the world's largest consumer staples firm.

Pershing's position in Procter & Gamble has prompted with investors wondering if he will push for management change and/or spin-offs of non-essential brands.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Investing Ideas , US Markets
Referenced Stocks: ALEX , C , CP , FDO , JCP

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