Ackman Adds GM to Highly Concentrated Portfolio (TGT, KFT, JCP, GM, HHC, C, FO, ADP, GLRE)

William Ackman is well-known as the man behind hedge fund Pershing Square Capital Management, which often makes headlines for its big stakes in and activist stances towards well-known brands.

In the past these brands have included Target (TGT), Kraft Foods (KFT), and most recently J C Penney (JCP), where Ackman is expected to soon join the board of directors.

Looking at Pershing’s U.S.-listed, equity holdings from the end of 2010, Ackman has continued to maintain a narrowly-focused long portfolio. During the quarter, Pershing opened new stakes in General Motors (GM) and real estate developer Howard Hughes (HHC).

Ackman also upped his stakes in bank Citigroup (C), alcohol producer Fortune Brands (FO), and J.C. Penney. Elsewhere, he was trimming his positions in Automatic Data Processing (ADP), Kraft and Target. Ackman famously established a fund that bet exclusively on Target, only to see it drop by nearly -90% in 2008. The fund rebounded somewhat, but Ackman has for the most part been slowly unwinding his Target stake.

Pershing held steady with his stake David Einhorn-controlled reinsurer Greenlight Capital Re (GLRE).

At tickerspy.com, members can track Pershing’s latest holdings, see a graph of their combined performance, and be notified when new holdings are made public.

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Tags: ADP, C, FO, GLRE, GM, HHC, JCP, KFT, TGT