Bill Ackman Cuts Citigroup, Adds Procter & Gamble

Pershing Square's Bill Ackman cut his entire stake in Citigroup during the third-quarter, while adding to his stakes in Procter & Gamble and General Growth Properties.
By Chris Ciaccia ,

NEW YORK (

TheStreet

) -

Pershing Square

hedge fund manager Bill Ackman liquidated his stake in

Citigroup

(C) - Get Report

, according to his latest

13F filing

.

In the

second-quarter,

Ackman owned 1.1 million shares of the New York-based bank. By the third-quarter, Ackman had sold all of it.

The activist investor, known for his stake in

J.C. Penney

(JCP) - Get Report

, also added to his stakes in

Procter & Gamble

(PG) - Get Report

and

General Growth Properties

(GGP)

.

He added to his call position in Procter & Gamble. In addition to the options, Ackman owns more than 27.8 million shares in the Cincinnati, OH.-based consumer products conglomerate. A call is the right to own shares at a predetermined price.

Shares of Citigroup fell 3.15% today to close at $35.02, while Procter & Gamble fell 0.48% to close at $66.53.

Interested in more on Citigroup? See TheStreet Ratings' report card for

this stock

.

--

Written by Chris Ciaccia in New York

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