Pershing Square Adds GM, Almost Triples General Growth Holding Filing

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Activist investor Bill Ackman's Pershing Square Capital Management added
General Motors Co. (GM) to his portfolio in the quarter ended Dec. 31, 2010,
according to a regulatory filing Monday.


The hedge fund manager, which reported equities stakes worth a total $5.84
billion in the document, bought 7.2 million shares in the automaker, a stake
that would be worth $261 million as of Monday's close.


For the three months ended Dec. 31, Ackman almost tripled Pershing Square's
holding in General Growth Properties Inc. (GGP) to 70 million shares from 24
million at the end of the previous quarter. He had earlier disclosed holding
increases in J.C. Penny Co. Inc. (JCP) to 34.9 million shares and Fortune Brands
Inc. (FO) to 16.7 million shares.


Meanwhile, he substantially reduced his stake in Automatic Data Processing
Inc. (ADP) to less than a fifth of the 8.7 million shares Pershing Square owned
at the end of September, and halved his holding in Target Corp. (TGT) to 7.4
million shares.


He also reduced his stake Corrections Corp. of America (CXW) by 30% to 7.8
million shares, and reduced his stake in Kraft Food Inc. (KFT) by a similar
proportion to 19.5 million shares.



-By Amy Or, Dow Jones Newswires; +1 212 416 3142; amy.or@dowjones.com