BOSTON (TheStreet) -- Bill Ackman's Pershing Square Capital Management packs a punch with nine concentrated bets of $6.4 billion. And now he's adding more to those positions, including Citigroup (C) - Get Report and Family Dollar (FDO) .

Ackman is best known for his role as a shareholder activist, acquiring large stakes and forcing proxy battles in the name of shareholder value. Ackman has won with wagers on

General Growth Properties

(GGP)

recently and against

MBIA

(MBI) - Get Report

nearly a decade ago.

Bill Ackman

During the second quarter, Ackman added no new holdings. He sold out of only one position:

Corrections Corp. of America

(CXW) - Get Report

, according to Pershing Square's latest filing with the

Securities and Exchange Commission

released Monday.

>>View Bill Ackman's Portfolio

Hedge funds that manage more than $100 million are required to disclose their equity holdings, options and convertible debt on a Form 13F filed to the

Securities and Exchange Commission

within 45 days of the end of a quarter. Funds aren't required to report short positions betting on declines.

Citigroup was one of five positions that Ackman increased in the second quarter, as his hedge fund added 8.9 million shares to bring its total position to 23.5 million shares. Other hedge fund managers, including David Tepper of Appaloosa Management and John Paulson of Paulson & Co., slashed their large positions in Citigroup. The bank's shares have declined 34% this year.

The hedge fund ended the second quarter with 11 million shares of Family Dollar. In June, Ackman's Pershing Square disclosed an 8.9% stake, making him the largest shareholder of the company. Ackman, who has shown an affinity for retailers such as

Target

(TGT) - Get Report

and

Borders

in the past, previously owned a 4.9% stake in Family Dollar. During an investment conference in June, Ackman called Family Dollar a prime target for a leveraged buyout.

Of course, Family Dollar is a favorite of Nelson Peltz's Trian hedge fund. In February, Peltz unveiled a bid for Family Dollar, offering $7.6 billion, or $60 per share, to acquire the discount retailer. The company's board has deemed the bid too low. In addition to Family Dollar, Ackman and Peltz also share interest in

Kraft Foods

( KFT), although Pershing Square trimmed its position in Kraft during the second quarter.

Ackman's hedge fund added to its position in

Fortune Brands

( FO), bringing its position to 17 million shares. Ackman is a proponent of breaking up the company, which has a valuable collection of brand names like Jim Beam, Master Lock, Moen and Titleist.

Pershing Square also increased positions in top holding

J.C. Penney

(JCP) - Get Report

and General Growth Properties. Holdings in

Howard Hughes

(HHC) - Get Report

,

Alexander & Baldwin

(ALEX) - Get Report

and

Greenlight Capital Re

(GLRE) - Get Report

were static in the quarter.

-- Written by Robert Holmes in Boston

.

>To contact the writer of this article, click here:

Robert Holmes

.

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