13F filing recap · Q4 2006

What did Pershing Square Capital Management buy in Q4 2006?

Reported stock-position changes between this filing and the previous one.

Stock value

$1.67B

Positions

Estimated turnover

148.7%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

CENCeridian Corporation$439.97Mreported value+15.72M shares LMLegg Mason Inc$39.78Mreported value+418.5K shares

Increased positions

MCDMcdonald’s Corporation$818.31Mreported value+18.15M shares+5790.1%BKSBarnes & Noble Inc$218.84Mreported value+249.2K shares+4.7%BGPBorders Group Inc$153.22Mreported value+1.69M shares+32.8%

Exited positions

WENWendy'S International Inc$430.21Mprior reported value-6.42M shares-100.0%BDKBlack & Decker Corp$103.62Mprior reported value-1.31M shares-100.0%SIZSizeler Property Investors Inc$31.23Mprior reported value-2.08M shares-100.0%