By Liz Moyer
Activist hedge fund manager William Ackman reported no stake in
Hawaiian commercial property firm Alexander & Baldwin Inc.
(ALEX), while maintaining an 11% stake in Burger King Worldwide
Inc. (BKW) in the fourth quarter.
His fund, Pershing Square Capital Management L.P. said in a
securities filing on Thursday that it had omitted confidential
information from its quarterly holdings disclosure, reporting it
separately to the Securities and Exchange Commission.
The filing, called a 13F, didn't mention Mr. Ackman's
highest-profile wager. In December, he launched a public campaign
against nutritional supplement maker Herbalife Ltd. (HLF), calling
the company a pyramid scheme and disclosing he had shorted more
than 20 million of Herbalife shares, about $1 billion at the
time.
Herbalife has denied Mr. Ackman's accusations. Other fund
managers have taken the opposite view on Mr. Ackman's thesis,
including Carl Icahn, who squared off with Mr. Ackman in a
confrontation on CNBC last month. Mr. Icahn on Thursday revealed a
13% stake in Herbalife.
Pershing Square's reported holdings as of the end of the fourth
quarter were mostly unchanged from September. The 38 million share
stake in Burger King and a 3.6 million share stake, or 8.6%, in
shipping company Matson Inc. (MATX) were both first taken in the
third quarter.
Pershing adjusted its holdings of Procter & Gamble Co. (PG)
in the fourth quarter. Common-share holdings stayed the same at
27.9 million shares but the firm reduced its call-option holdings
to 4.3 million from 6.4 million in the third quarter.
The fund reported 18 holdings valued at $9.1 billion as of the
end of December. In September, it reported 20 holdings valued at
$8.9 billion.
Write to Liz Moyer at liz.moyer@dowjones.com
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