Bill Ackman

Bill Ackman

Last Update: 11-14-2016

Number of Stocks: 10
Number of New Stocks: 1

Total Value: $5,413 Mil
Q/Q Turnover: 4%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Bill Ackman Watch

  • 22 Questions With Michael Nowacki

    Warren Buffett,Carl Icahn,Bill Ackman,David Einhor - 22 Questions With Michael Nowacki

    1. How and why did you get started investing? What is your background?


    When I was 19 years old I was trying to figure out what profession I wanted to pursue. A job with a sense of contribution was important to me, but I also wanted there to be an unlimited ceiling. For example, becoming a police officer, teacher or nurse is very rewarding, but the opportunity to move up the leadership ladder in those professions is very limited. I came across a biography on John D. Rockefeller, who was also from Cleveland, and was blown away by his philanthropic achievements. I knew immediately I wanted to become a philanthropist, but you need a fortune to do that. I read everything about the people on the Forbes 400 and how history’s great fortunes were created. I realized that nearly all the self-made ultrawealthy were either business owners or investors. I studied both and fell in love with investing. In investing I get my sense of contribution by helping people achieve their financial and investment goals.

      


  • 4 Catalysts for Herbalife Short to Play Out

    Bill Ackman - 4 Catalysts For Herbalife Short To Play Out

    Pershing Square, led by Bill Ackman (Trades, Portfolio), waged one of the most spectacular public activist campaigns against Herbalife (NYSE:HLF) on the premise it is a pyramid scheme.


    In the recent earnings call Ackman reiterated some of the points he has made previously (and he made a lot of points) but also pointed out several important potential catalysts that each individually could impact the viability of the nutritional supplement MLM company:

      


  • Ackman Sticks With Valeant as a Deleverage Story

    Bill Ackman - Ackman Sticks With Valeant As A Deleverage Story

    Pershing Square, led by Bill Ackman (Trades, Portfolio), recently held its earnings call. Ackman highlighted why one particular holding, Valeant Pharmaceuticals (NYSE:VRX), is attractive right now.


    I usually get a lot of flack for my bullish position on this fallen angel, but I am aware of its checkered past and its debt load. Please be aware it is a highly leveraged company that would probably qualify as an equity stub discussed in Greenblatt’s classic "You Can Be A Stock Market Genius." Pershing also owns board seats, which means they cannot discuss all aspects of the business freely as they may be privy to sensitive information.

      


  • Warren Buffett's Financial Engineering

    Warren Buffett,Bill Ackman - Warren Buffett's Financial Engineering

    Investors often overlook the financial engineering that Warren Buffett (Trades, Portfolio) has employed throughout the years that helped build his personal fortune and the book value of Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B).


    One such technique was to take a variety of positions in stock arbitrage trades using leverage to do so – in other words, borrowing money against his cash positions to trade for short-term gains.

      


  • Bill Ackman Says Valeant Diversified Pharma Is a Buffett ‘Cigar Butt’ in Conference Call

    Bill Ackman - Bill Ackman Says Valeant Diversified Pharma Is A Buffett ‘Cigar Butt’ In Conference Call

    Pershing Square head Bill Ackman (Trades, Portfolio) updated investors on his outlook for Valeant Pharmaceuticals (NYSE:VRX), a holding that suffered a catastrophic drop last year, on a third-quarter conference call Thursday, covering the difference in its three businesses and what it needs to do to move forward.


    Ackman owns 6.2% of Valeant and has lost an estimated 82% on the holding. The stock’s year-to-date decline of 83% extends its drop from July 2015 highs above $250 to a cumulative 93% at Thursday afternoon’s trading price around $17. After increased government scrutiny, accounting infractions and other questionable practices led to its stock collapse and departure of its CEO, Ackman has actively been working to turn the company around.

      


  • Bill Ackman Discusses What Will Drive Chipotle's Growth on Conference Call

    Bill Ackman - Bill Ackman Discusses What Will Drive Chipotle's Growth On Conference Call

    Among holdings Bill Ackman (Trades, Portfolio), leader of hedge fund Pershing Square, discussed in his third-quarter conference call Thursday was Chipotle (NYSE:CMG), a fast-casual restaurant chain bruised by several food poisoning incidents and his latest new stake.


    Ackman started the Chipotle position, worth 10-11% of Pershing Square’s capital, on Sept. 6 for $405 per share, after it fell 47% from its all-time highs in 2015 as reports arose of food-borne pathogens sickening customers in 13 states from August to December 2015. The stock trades around $392 early Thursday, a 3% decline for Ackman.

      


  • Mylan Posts Loss Amid Investigation, Settlement

    Bill Ackman,John Paulson,Vanguard Health Care Fund - Mylan Posts Loss Amid Investigation, Settlement

    Mylan (NASDAQ:MYL) released its third-quarter earnings Wednesday, reporting a quarterly loss and revenue growth that was below expectations.


    Mylan has been embroiled in controversy in regard to its pricing practices. The U.S. Department of Justice has been investigating the company’s pricing of EpiPens. The company reached a $465 million settlement for allegations that Medicaid overpaid the company for the lifesaving medication. The settlement caused the company to report a loss of 23 cents per share ($119.8 million), down from a profit of 83 cents last year ($428.6 million).

      


  • Bill Ackman's Pershing Square Returns Slide in October

    Bill Ackman - Bill Ackman's Pershing Square Returns Slide In October

    Bill Ackman (Trades, Portfolio)’s Pershing Square returns slumped lower for the third straight month in October as stock prices of most of the holdings in his concentrated portfolio descended.


    The slide of the past two years has more than wiped out the 40 percent gain the investor returned for clients in 2014, before trouble began at one of his star stocks, fast-growing Valeant Pharmaceuticals (NYSE:VRX), in 2015. Ackman’s downturn is unprecedented in Pershing Square’s history, which from its 2004 inception through the first half of 2014 reported an annualized return of 20.8%, compared to the S&P 500’s 7.7%, with only two losing years.

      


  • Bill Miller: Valeant Can Double in 3 Years

    Bill Ackman - Bill Miller: Valeant Can Double In 3 Years

    Bill Miller is an interesting value investor, as he is generally very outspoken. He made an appearance on CNBC and talked about Valeant (NYSE:VRX). You may be scrutinized if you are long Valeant after the ousting of its CEO, the Philidor incidents, Charlie Munger (Trades, Portfolio)'s distaste for the company and Hillary Clinton’s special attention to price gouging.


    There is a lot not to like.

      


  • Nomad Foods Trades at a Reasonable Price

    Bill Ackman - Nomad Foods Trades At A Reasonable Price

    This weekend, Barron's magazine had a nice mention about Nomad Foods (NYSE:NOMD). The European frozen food company is a holding of Bill Ackman (Trades, Portfolio) and Oscar Schafer.


    The stock trades at $12.87, there are 178.43 million shares, and the stock trades at a market cap of $2.3 billion. The stock does not pay a dividend. Diluted earnings per share are 68 cents, and the stock trades at a price-earnings (P/E) ratio of 18.9. According to the Barron's article, Schafer thinks the stock can earn $1.25 in the next few years. I have no idea on what Schafer is predicating that.

      


  • 21 Questions With Michel Charbonneau

    Bill Ackman,Carl Icahn - 21 Questions With Michel Charbonneau

    1. How and why did you get started investing? What is your background?


    I have a background in physics (Ph.D.) and came to investing through a rather long and indirect path. When I was young, people in my rural community were seeing investing in the stock market as a dangerous gamble, where one could easily loose his shirt. My grand-parents had lived through the Great Depression and knew someone who had lost all of their money in it or had read horrible stories about it. This had scared the hell out of them and they remained convinced until the end of their life that it was better to keep your money under the mattress than putting it in the stock market.

      


  • Warren Buffett Wants You to Read These 3 Letters

    Warren Buffett, Carl Icahn, Ray Dalio, Bill Ackman - Warren Buffett Wants You To Read These 3 Letters

    Pivoting away from a scandal involving one of his biggest holdings, Wells Fargo (NYSE:WFC), Warren Buffett (Trades, Portfolio) took some time to discuss a philanthropic initiative he created with Bill and Melinda Gates called The Giving Pledge.


    The pledge calls for the world's billionaires to donate a large majority of their wealth to charities.

      


  • Risk/Reward With Herbalife

    Carl Icahn,Bill Ackman - Risk/Reward With Herbalife

    Herbalife (NYSE:HLF) is a global nutrition company.


    It develops and sells meal replacement products across weight management, healthy meals and snacks, sports and fitness, energy and personal care products. It has over 5,000 SKUs globally sold through a network of director marketing representatives.

      


  • Two Key Checklist Items

    Bill Ackman,David Einhorn - Two Key Checklist Items I am not a big fan of going through specific “checklist” items one by one when evaluating an investment idea. I know this idea has gained enormous popularity in recent years, partly due to the good book The Checklist Manifesto, and partly popularized in value investing circles by Mohnish Pabrai (Trades, Portfolio).

    I respect Mohnish a lot, and I think his idea of evaluating previous investment mistakes (both his own mistakes and especially the mistakes of other great investors) is an excellent exercise.  


  • The Other Top Investors Who Love & Hate Bill Ackman's Next Target, Chipotle

    Bill Ackman - The Other Top Investors Who Love & Hate Bill Ackman's Next Target, Chipotle

    Bill Ackman (Trades, Portfolio) purchased a 9.9% stake in Chipotle (NYSE:CMG) last week with intent to push for changes. While the investing world has largely bemoaned his involvement after a string of misadventures with stocks such as Valeant Pharmaceuticals (NYSE:VRX), some other managers of big funds hopped in and out of the Chipotle boat last quarter after its widespread food poisoning scare.


    A purveyor of “responsibly raised” and fresh ingredients, Mexican food chain Chipotle was home to food-borne illness causing pathogens norovirus, salmonella and E. coli in 13 states from August through December of 2015, according to its information website festooned with bacteria shapes. Over those five months, the stock fell by 33% and to date has declined 42%.

      


  • 2 Things Ackman Wants to Change at Chipotle

    Bill Ackman - 2 Things Ackman Wants To Change At Chipotle

    Chipotle (NYSE:CMG) jumped on the news Bill Ackman (Trades, Portfolio)’s Pershing Square acquired a 9.9% stake. Given the star fund manager has had 1 ¾ of terrible years in the rearview mirror, that may have come as a bit of a surprise. Ackman’s struggles with Valeant (NYSE:VRX) and Herbalife (NYSE:HLF) notwithstanding, his track record in the restaurant business is to be envied. He racked up wins with Macy’s, McDonald’s, Burger King, Yum Brands and others. Pershing stated in its 13-D filing Chipotle has a strong brand, differentiated offering, enormous growth opportunity and visionary leadership. In addition, the 13-D called Chipotle an undervalued and attractive investment.


    But what’s Ackman’s plan with Chipotle? Why’s he engaging with this chain? His successes came through operational improvements, lots of cost cutting and financial engineering.

      


  • Bill Ackman Buys Chipotle Mexican Grill

    Bill Ackman - Bill Ackman Buys Chipotle Mexican Grill

    Bill Ackman (Trades, Portfolio) of Pershing Square Capital Management acquired a new holding in Chipotle Mexican Grill Inc. (NYSE:CMG) on Aug. 24.


    Ackman is an activist investor who has been plagued recently by both a scandal surrounding Valeant Pharmaceuticals (NYSE:VRX) and a failed attempt at shorting Herbalife (NYSE:HLF). This is his first major investment since the Valeant scandal unfolded. As an activist investor, Ackman takes a position in a company and pressures management for change. He has indicated that he may take an activist role in regard to Chipotle’s corporate governance, operations and capitalization.

      


  • Chou RRSP Fund Buys Valeant

    Chour RRSP Fund,Francis Chou,Bill Ackman - Chou RRSP Fund Buys Valeant

    The Chou RRSP Fund (Trades, Portfolio) acquired a new holding in Valeant Pharmaceuticals International Inc. (TSX:VRX)(NYSE:VRX) in the second quarter.


    The fund purchased 260,000 shares in Valeant for an average price of 36.51 Canadian dollars ($27.83) per share. The transaction had an impact of 14.1% on the portfolio.

      


  • Bill Ackman Comments on Canadian Pacific

    On August 4, 2016 we sold our remaining 9 8 million shares of Canadian Pacific (NYSE:CP). This sale marked the end of our five-year investment in CP, which was a noteworthy success. I have agreed to continue on the board up until the next annual meeting or until qualified replacement directors have joined the board.


    We initiated our investment in Canadian Pacific in the fall of 2011. Prior to our investment, CP had meaningfully underperformed its closest competitor, Canadian National ("CN"), and the other North American railroads in nearly all key operating measures for more than a decade, a performance deficit best illustrated by CP's operating margin of 19%, or about half of CN's 37% margins at the time. As a result of this underperformance, CP' s shares had languished behind competitors and its potential for many years.

      


  • Bill Ackman Comments on Zoetis Inc.

    There is still a lot more work to do, but we are pleased with the company's progress over the last several months. Zoetis Inc. (NYSE:ZTS) Zoetis delivered another exceptional quarter of performance. Organic revenue growth was +4%, driven by +13% growth in Zoetis' companion animal segment. Excluding the revenue impact of the company's operational efficiency initiatives, organic revenue growth was 9%. Management's execution of its operational efficiency initiative continues to be excellent. SG&A as a percentage of sales fell by 180bps in the quarter, year-over-year and gross margins expanded 240bps. While we have sold a substantial portion of our investment to raise capital for new investments, we continue to believe that Zoetis' history of strong organic growth and margin expansion will continue.

    From Bill Ackman (Trades, Portfolio)'s mid-year 2016 letter.   


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