Bill Ackman hedge fund company now owns more than 10.8 million shares in the Family Dollar, or 8.9% stake, according to a Securities and Exchange Commission filing.
It makes the Pershing Square, the largest shareholder in Matthews, N.C.-based discount chain, overtaking Nelson Peltz Trian Fund Management 6.1 million shares.
Pershing Square relationship to Family Dollar is not new. A previous SEC filing in may indicated Pershing Square which owns 3.3 million shares on March 31.
Ackman also touted the benefits of investing in 7,000 store chain last month at the Ira Sohn investment conference last month, it is a successful company which "continues to include even in difficult economic environments," due to the geographical convenience and low overhead.
Nationwide chain produced 7.8 billion dollars in revenue in 2010, according to its annual economic report.
Type of economic success that attracts activist investor Ackman and Peltz, who made an unsolicited offer in March to buy the Family Dollar for $ 55 to $ 60 per share in cash. But the chain Peltzs offer rejected, and conducted a "poison pill" to discourage a takeover.
A Pershing Square spokeswoman declined to comment on whether increased effort.
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