Thanks to Bess Levin of Dealbreaker.com, we get a glimpse of the performance of Bill Ackman’s hedge fund Pershing Square L.P. (see the embedded document below). During the month of November 2010, the fund grossed 15.0% and netted after fees 12.2%. YTD, the fund returned grossed 35.5% and netted 27%. The November disclosure also stated that the fund has 12 long positions and 3 short positions, without specifying which ones.
We know as of September 30, 2010, Ackman had 11 long positions, so there has been one new addition to his concentrated long portfolio. We will highlight the new addition next when he updates his holdings.
And we also know that at least some of the startling November gain came from the following top holdings:
No. 1: Kraft Foods Inc. (KFT, Financial), Weightings: 21.1% - 27,632,023 Shares
Kraft Foods, Inc. is the largest branded food and beverage company headquartered in the U. Kraft Foods Inc. has a market cap of $53.44 billion; its shares were traded at around $30.64 with a P/E ratio of 15.2 and P/S ratio of 1.3. The dividend yield of Kraft Foods Inc. stocks is 3.8%. Kraft Foods Inc. had an annual average earning growth of 1.7% over the past 5 years.
No. 2: Target Corp. (TGT, Financial), Weightings: 18.71% - 14,143,896 Shares
Target Corporation operates large-format general merchandise and food discount stores in the United States, which include Target and SuperTarget stores. Target Corp. has a market cap of $42.63 billion; its shares were traded at around $59.09 with a P/E ratio of 15.6 and P/S ratio of 0.7. The dividend yield of Target Corp. stocks is 1.7%. Target Corp. had an annual average earning growth of 9.8% over the past 10 years. GuruFocus rated Target Corp. the business predictability rank of 4.5-star.
No. 3: Citigroup Inc. (C, Financial), Weightings: 14.14% - 146,475,426 Shares
Citigroup Inc., the global financial services company, has some two hundred million customer accounts and does business in more than hundred countries, providing consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citigroup Inc. has a market cap of $134.21 billion; its shares were traded at around $4.62 with and P/S ratio of 1.5.
No. 4: J.C. Penney Company Inc. (JCP, Financial), Weightings: 10.57% - 15,711,994 Shares
JCPenney is one of America's retailers, operating department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp. J.c. Penney Company Inc. has a market cap of $8.02 billion; its shares were traded at around $33.92 with a P/E ratio of 25.5 and P/S ratio of 0.5. The dividend yield of J.c. Penney Company Inc. stocks is 2.3%. J.c. Penney Company Inc. had an annual average earning growth of 18.5% over the past 10 years.
No. 5: General Growth Properties Inc (GGP, Financial), Weightings: 9.25% - 23,953,782 Shares
General Growth Properties is one of the oldest and most experienced shopping center owners, developers and managers in the United States. General Growth Properties Inc has a market cap of $5.01 billion; its shares were traded at around $15.79 with a P/E ratio of 15.5 and P/S ratio of 1.6. General Growth Properties Inc had an annual average earning growth of 5.9% over the past 10 years.
No. 6: Fortune Brands Inc. (FO, Financial), Weightings: 9.1% - 7,465,555 Shares
Fortune Brands is a holding company with subsidiaries engaged in themanufacture and sale of home products (plumbing accessories, security devices and tool storage products), office products (stapling equipment, computer accessories and supplies), golf products and spirits and wine. Fortune Brands Inc. has a market cap of $9.33 billion; its shares were traded at around $61.15 with a P/E ratio of 21.5 and P/S ratio of 1.4. The dividend yield of Fortune Brands Inc. stocks is 1.2%.
A couple of days ago, we put out an invitation for nominating “Guru of Year 2010”. Given Ackman’s incredible call on GGP, I am surprised that none has mentioned he deserves to be nominated yet.
The nomination will close on December 15, so we have a little more time. Click here to nominate your favorite gurus.
Pershing Square Performance Report November 2010 PSLP
We know as of September 30, 2010, Ackman had 11 long positions, so there has been one new addition to his concentrated long portfolio. We will highlight the new addition next when he updates his holdings.
And we also know that at least some of the startling November gain came from the following top holdings:
No. 1: Kraft Foods Inc. (KFT, Financial), Weightings: 21.1% - 27,632,023 Shares
Kraft Foods, Inc. is the largest branded food and beverage company headquartered in the U. Kraft Foods Inc. has a market cap of $53.44 billion; its shares were traded at around $30.64 with a P/E ratio of 15.2 and P/S ratio of 1.3. The dividend yield of Kraft Foods Inc. stocks is 3.8%. Kraft Foods Inc. had an annual average earning growth of 1.7% over the past 5 years.
No. 2: Target Corp. (TGT, Financial), Weightings: 18.71% - 14,143,896 Shares
Target Corporation operates large-format general merchandise and food discount stores in the United States, which include Target and SuperTarget stores. Target Corp. has a market cap of $42.63 billion; its shares were traded at around $59.09 with a P/E ratio of 15.6 and P/S ratio of 0.7. The dividend yield of Target Corp. stocks is 1.7%. Target Corp. had an annual average earning growth of 9.8% over the past 10 years. GuruFocus rated Target Corp. the business predictability rank of 4.5-star.
No. 3: Citigroup Inc. (C, Financial), Weightings: 14.14% - 146,475,426 Shares
Citigroup Inc., the global financial services company, has some two hundred million customer accounts and does business in more than hundred countries, providing consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citigroup Inc. has a market cap of $134.21 billion; its shares were traded at around $4.62 with and P/S ratio of 1.5.
No. 4: J.C. Penney Company Inc. (JCP, Financial), Weightings: 10.57% - 15,711,994 Shares
JCPenney is one of America's retailers, operating department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp. J.c. Penney Company Inc. has a market cap of $8.02 billion; its shares were traded at around $33.92 with a P/E ratio of 25.5 and P/S ratio of 0.5. The dividend yield of J.c. Penney Company Inc. stocks is 2.3%. J.c. Penney Company Inc. had an annual average earning growth of 18.5% over the past 10 years.
No. 5: General Growth Properties Inc (GGP, Financial), Weightings: 9.25% - 23,953,782 Shares
General Growth Properties is one of the oldest and most experienced shopping center owners, developers and managers in the United States. General Growth Properties Inc has a market cap of $5.01 billion; its shares were traded at around $15.79 with a P/E ratio of 15.5 and P/S ratio of 1.6. General Growth Properties Inc had an annual average earning growth of 5.9% over the past 10 years.
No. 6: Fortune Brands Inc. (FO, Financial), Weightings: 9.1% - 7,465,555 Shares
Fortune Brands is a holding company with subsidiaries engaged in themanufacture and sale of home products (plumbing accessories, security devices and tool storage products), office products (stapling equipment, computer accessories and supplies), golf products and spirits and wine. Fortune Brands Inc. has a market cap of $9.33 billion; its shares were traded at around $61.15 with a P/E ratio of 21.5 and P/S ratio of 1.4. The dividend yield of Fortune Brands Inc. stocks is 1.2%.
A couple of days ago, we put out an invitation for nominating “Guru of Year 2010”. Given Ackman’s incredible call on GGP, I am surprised that none has mentioned he deserves to be nominated yet.
The nomination will close on December 15, so we have a little more time. Click here to nominate your favorite gurus.
Pershing Square Performance Report November 2010 PSLP
