Market Overview

Bill Ackman Picks 4 New Stocks In 13F

Hedge fund activist Bill Ackman expanded his portfolio to nine positions from seven the previous quarter.

This does not include short positions, however, such as Ackman’s infamous bet against Herbalife (NYSE: HLF).

New Picks

Shares of Apartment Investment & Management (NYSE: AIV) are up almost one percent Friday on the news that Ackman has opened a $113.3 million position in the company. Pershing Square opened a small position in a REIT called Home Properties (NYSE: HME). This is the smallest stock in Ackman’s portfolio.

Ackman is not the only fund manager to announce a position in a REIT, as David Einhorn disclosed a small position in Hatteras Financial (NYSE: HTS).

Related: Warren Buffett Reveals His Latest Gems In 13F

Ackman is also moving shares of PlatformSpecialty Products (NYSE: PAH) higher as he showed a $635,000,000 position in the company; at last check, shares were 6.24 percent higher. The company’s market cap is just $2.55 billion. Ackman’s stake is greater than 27 percent of the company as he holds 33.3 million of 121.5 million shares.

Allergan (NYSE: AGN) was also entered. This position has been making headlines in the financial media space as Ackman took a stake in Allergan, then worked with Valeant to sell Allergan. The stock is up 43.92 percent year to date.

Reductions

Pershing Square sold its stake in two companies last quarter: Procter & Gamble and General Growth.

The elimination of Procter & Gamble (NYSE: PG) from Pershing Square’s portfolio is not surprising; the company was his smallest position last quarter worth just $60.2 million.

Genworth (NYSE: GGP) was also one of Ackman’s smallest positions last quarter valued at $554,419. Shares performed well over the second half of the quarter, rising roughly 10 percent from the start of February.

Ackman also cut his stake in Beam (NYSE: BEAM) from approximately 21 million shares to 11.7 million shares.

Posted-In: 13F Bill Ackman Pershing SquareNews Hedge Funds General Best of Benzinga

 

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