Ackman cuts stake in mall owner General Growth Properties Fri Sep 13, 2013 6:28pm EDT (Reuters) - Bill Ackman's Pershing Square Capital Management cut its stake in mall owner General Growth Properties Inc (GGP.N) to 3.7 percent from 8 percent, the hedge fund said in a filing with the U.S. Securities and Exchange Commission. The fund was the second biggest shareholder in the company after Brookfield Asset Management Inc, which had reported a stake of about 39 percent as of August 8. Ackman has been a passive investor in GGP after he failed to secure a buyer for the company. Pershing Square has been largely flat for the year, following a bruising August in which it lost 3.6 percent. Ackman sold his entire stake in J.C. Penney to Citigroup Inc (C.N) last month after his campaign to overhaul the retailer failed. Reporting By Neha Dimri in Bangalore; Editing by Sriraj Kalluvila