13F filing recap · Q1 2011

What did Pershing Square Capital Management buy in Q1 2011?

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

Stock value

$5.57B

Positions

Estimated turnover

25.4%

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

FDOFamily Dollar Stores Inc$295.82Mreported value+5.76M shares

Increased positions

GGPGeneral Growth Properties, Inc.$1.11Breported value+1.84M shares+2.6%KFTKraft Foods Inc$697.42Mreported value+2.77M shares+14.2%CCitigroup Inc$648.45Mreported value+193.5K shares+0.1%ALEXAlexander & Baldwin Inc.$162.60Mreported value+3.39M shares

Reduced positions

CXWCorecivic, Inc.$107.78Mreported value-3.41M shares-43.6%

Exited positions

TGTTarget Corporation$444.94Mprior reported value-7.40M shares-100.0%GMGeneral Motors Company$264.94Mprior reported value-7.19M shares-100.0%ADPAutomatic Data Processing Inc$65.01Mprior reported value-1.40M shares-100.0%BGPBorders Group Inc$9.54Mprior reported value-10.60M shares