Ackman's Pershing Square Scaled Back Allergan, Added To Platform Specialty Products In Q4

From his head-to-head battle with Carl Icahn over whether or not Herbalife Ltd HLF is merely a pyramid scheme, to his lawsuit against the U.S. government over its treatment of Fannie Mae FNMA and Freddie Mac FMCC, billionaire investor Bill Ackman has certainly never been afraid to take an aggressive stance. Ackman is founder and CEO of Pershing Square Capital Management LP, and many investors that follow the fund's moves have been eagerly awaiting today’s form 13-F filing so they can see if Ackman’s fund made any big moves in Q4.

It turns out that investors were not disappointed, as Pershing Square was busy during the quarter. Here’s a breakdown of the moves.

Scaling Back Allergan Inc AGN

Pershing reduced its position in Allergan by more than two million shares in Q4 down to 26,635,978 shares. With a value of over $5.6 billion, Allergan remains Pershing’s largest holding by a wide margin.

Dumping Burger King Worldwide Inc BKW

One big move that Pershing made in Q4 was liquidating a nearly 40 million-share stake in Burger King. As of the company’s Q3 13-F filing, Pershing’s Burger King shares were valued upwards of $1.1 billion.

Adding To Platform Specialty Products Corp PAH

Pershing increased its stake in Platform by over nine million shares in the quarter. As of today’s filing, the position is valued at just over $992 million.

Adding To Zoetis Inc ZTS

Pershing increased its stake in Zoetis by more than seven times during Q4. The updated stake is valued at nearly $1.8 billion.

Buying Restaurant Brands Intl Inc QSR

The only totally new position in Pershing’s 13-F is a more than 38 million-share stake in Restaurant Brands. The new holding is valued at nearly $1.5 billion.

To see the rest of Pershing’s holdings, the company’s full 13-F filing can be found here.