William Ackman, co-investment manager for hedge-fund group Gotham Partners LP, formed Pershing Square in November 2003 with $54 million raised from three investors. Ackman got his start in the real estate business, where he worked for his father prior to starting Gotham. By March 2007, Pershing Square had over $1.6 billion under management.
Investing Philosophy:
Bill Ackman is an activist investor. He buys the common stocks of public companies, and pushes for changes so that the market can realize the values of the companies. Ackman buys stocks trading at a discount, and sells when the companies reach their appraised value.
Hedge fund manager, activist investor Bill Ackman made money shorting financials in 2008. He said that he takes activist position to make the company better, and realize the full business value. This is the Q3 portfolio update of his investment company, Pershing Square. More...
Do not know if these are all over the interweb yet, but a friend sent me a great compilation of notes from the Great Investors' Best Ideas symposium - an event held in Dallas last week. For an overview, please see this: Great Investor's Investment IdeasMore...
(GuruFocus, September 25, 2009) Investment Guru, Manager of Pershing Square funds Bill Ackman sent out his latest Quarterly Letter to investors. It is a bit overdue because the man insists on write the letter himself. Recalling the incident he fought so hard and failed to nominate a different slate of BOD in a proxy fight with Target Corp. management, the activism Investment Guru certainly set an example for what he preaches in terms of shareholders’ right. More...
Bill Ackman lost of proxy fighting with Target. He is buying Mcdonald's Corp. (again). Is he looking for real estate opportunities again? Interestingly, he also bought ADP, a company without hard asset. This is his buys and sells during Q2. More...
True to his word it appears Ackman is going for the long haul in Target (TGT). My guess is his TIP REIT idea is not dead and rather have a large option position that management used against him in the proxy fight, he is going to own shares. More...
During the quarter ended on March 31, 2009, Bill Ackman’s top purchases include: Yum! Brands Inc. (YUM), Apartment Investment and Management Comp (AIV), General Growth Properties Inc (GGWPQ.PK) More...
Summary As of March 31, the top 5 holdings of Bill Ackman are: Target Corp. (TGT), EMC Corp. (EMC), Wendy's International Inc. (WEN), VISA INC (V), and Apartment Investment and Management Comp (AIV) More...
NEW YORK , May 28 (Reuters) - Some of the country's biggest and best-known hedge fund managers on Wednesday shared their best investment and short-selling ideas with an audience of some 1,200 hedge fund executives. The annual Ira Sohn Investment Research Conference raises millions of dollars for pediatric cancer research, but its high wattage speaker list also moves stocks. Last year Greenlight Capital's David Einhorn predicted that Lehman Brothers had more troubles than they had let on, four months before the investment bank filed for bankruptcy Event speakers this year included William Ackman of Pershing Square Capital Management; Kynikos Associates' James Chanos; Paul Singer of Elliott Management; Lee Hobson of Highside Capital; Mark Kingdon of Kingdon Capital Management; and Stephen Mandel, chief executive of Lone Pine Capital. More...
Bill Ackman likes restaurants and retailers, or likes the real estate under the restaurants and retailers. He did well with Wendy's, poorly with Target. Now he is on restuarents again. This is the Q1 portfolio of Pershing Square. Bill Ackman owns 12 stocks with a total value of $2 billion. More...
Now that I have had the time to examine some of the portfolio maneuverings of the famous value investors, I thought it might be valuable to discuss some of these moves, themes evident in the portfolios and some interesting stocks that may be worth doing some more research on. I selected managers with different styles and focuses so that readers could get an idea of the diversity of strategies being employed by managers in a very difficult operating environment. More...
The past eighteen months were difficult for many investors and fund managers across a variety of strategies. The credit crisis resulted in major market stress that yielded correlations of nearly one across equities such that performance was largely dictated by the net long exposure of investors. Nearly halfway through 2009, investors seem willing to view 2008 as a “six sigma” year and probably have little interest in attempting to learn much from it. While in many cases, all investors can do is throw their hands up in exasperation, the past 18 months have provided some interesting lessons to those in value investing circles. More...
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