Bill Ackman Picks 4 New Stocks In 13F
Hedge fund activist Bill Ackman expanded his portfolio to nine positions from seven the previous quarter.
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).
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.
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.
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