Bill Ackman

Bill Ackman

Last Update: 08-14-2015

Number of Stocks: 7
Number of New Stocks: 0

Total Value: $14,446 Mil
Q/Q Turnover: 0%

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

Bill Ackman Watch

  • Pershing Square Holdings (Bill Ackman) June 2015 Update



  • Pershing Square Holdings Ltd: 1H Letter to Shareholders

    Pershing Square Holdings Ltd., the publicly traded holdings company of billionaire Bill Ackman (Trades, Portfolio), trades on both the London and Amsterdam stock exchanges. Pershing Square can't list shares on the open exchanges in the United States. Hedge funds are not allowed to listed their shares publicly in the U.S., forcing U.S. hedge funds to list their shares abroad. Pershing Square Holdings is currently trading for 5x its earnings and 0.85x its NAV value. Pershing Square had a net asset value, at the end of July, of $29.03/share and the firm is trading for $24.84/share. The firm has released its first half of the year results to shareholders.


    Pershing Square Holdings Ltd. six months results

      


  • Valeant Pharmaceuticals' New Female Drug

    Valeant Pharmaceuticals (NYSE:VRX) has confirmed that it will pay $1.0 billion to buy Sprout Pharmaceuticals, the closely held company that has just won U.S. approval to sell the first drug that aims to increase women 's libido. Under the terms of the agreement, which echoes The Wall Street Journal, Valeant will pay $ 500 million in cash upfront and pay the other party early next year, whose pink pills, known as “female Viagra,” will be sold under the name Addyi. The deal is scheduled to close in the third quarter.


    Other acquisitions

      


  • Weekly CEO Buys Highlight: SHLD, ENH, APD, KS, TEP

    According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below:


    Sears Holdings Corp.: CEO, 10% owner buys 377,950 shares

      


  • Hedge Fund Billionaire Bill Ackman's Move on Global Snack Food Company

    Mondelez International, Inc. (NASDAQ:MDLZ) jumped more than 7% in premarket trading after activist investor Bill Ackman (Trades, Portfolio) said he would pay approximately $5.5 billion for a 7.5% stake in the maker of Oreo cookies and Ritz crackers, buying about 120.3 million shares.


    The $74.59 billion market cap company also has another activist as a major shareholder: Nelson Peltz´s Trian Partners held 48.02 million shares valued at $1.73 billion at the end of March.

      


  • LBO Time for Michael Kors?

    Option buyers are risk takers. They are often willing to bet relatively small amounts of cash on events that could pay off in a hugely leveraged fashion. In a worst case, they can lose up to 100% of their money. If things work out well, the sky is the limit.


    The shares of fashion designer Michael Kors (NYSE:KORS) have been a disaster since peaking at $101.04 in February of 2014. They bottomed on Aug. 4, 2015, at $38.16.

      


  • The Full Interview From Delivering Alpha With Nelson Peltz and Bill Ackman

    What is Bill Ackman (Trades, Portfolio)'s favorite investment today?


    Fannie Mae (FNMA) / Freddie Mac (FMCC) common stock. He thinks these stocks have enormous upside and he actually feels a bad outcome is very unlikely.

      


  • Bill Ackman and Nelson Peltz Joint Interview

    Bill Ackman (Trades, Portfolio) of Pershing Capital and Nelson Peltz of Trian Fund Management did a joint interview at CNBC's Delivering Alpha Conference. Both activist investors discussed activism and recent campaigns that they both fought. They both discussed McDonald's (NYSE:MCD), Burger King (NYSE:BKW) and Wendy's. Mr. Peltz discussed his recent campaign in DuPont (NYSE:DD) and the biggest mistakes he made in his activist campaign. Mr. Ackman talked about Fannie Mae (FNMA) and Freddie Mac (FMCC) and the Third Amendment that allows the government to take all of Fannie and Freddie's profits. After talking about Fannie and Freddie, Ackman and Peltz talked about other various topics with the interviewer.


    Ackman and Peltz joint interview:

      


  • Why Bill Ackman Doesn't Invest in Technology Companies

    Warren Buffett (Trades, Portfolio) is famous for avoiding exposing capital to technology companies. His basis for this is that he won't invest in anything he can't understand.


    It is hard to imagine someone as smart as Buffett not being able to understand something, but it is his discipline that really sets him apart.

      


  • Will Bill Ackman Go After Express Scripts Next?

    Bill Ackman (Trades, Portfolio) of Pershing Square, the second most well known activist investor only after Carl Icahn (Trades, Portfolio), just raised more money by issuing a billion worth of bonds. The NY Post reported that according to a source on an investor's call: Ackman plans to use the debt proceeds to help his $20 billion fund take on a big target. Ackman gets his fair share of headlines, and his targets usually quickly get bumped up a few notches. That makes it both fun and potentially profitable to speculate on his next target. With his fund getting bigger and bigger targets are becoming scarce which helps.


    To try and deduce what company Pershing Square will target, the first thing I did was set up a screen that excludes companies based on Ackman’s likely preferences. My screen excluded companies below $50 billion because he is going after a big target. It also excluded various industries like retail, energy and basic materials that I think he is unlikely to invest in right now based on his historic preferences and public comments he made. In addition I only included companies with a multiyear stable operating cash flow record and finally also excluded companies that analysts are extremely optimistic about because these are not logical targets for an activist. Finally, I expect Ackman will not invest outside the U.S. because of the additional legal issues and because of all the additional travel he and his team would need to do which could hurt the overall portfolio.

      


  • Acquisition in the Health Care Industry Increased Volatility

    In a previous article we discussed some reasons why Bill Ackman (Trades, Portfolio) initiated a position in Valeant Pharmaceuticals International (NYSE:VRX) to $3.87 billion, according to the fund's latest filing.


    On Friday, shares were down about 2% to $228.83. According to the Wall Street Journal, there was a potential buyout offer to buy animal-health giant Zoetis (NYSE:ZTS). Someone who is behind this move is activist investor Bill Ackman (Trades, Portfolio), who has taken a $2 billion stake in Zoetis and wanted the company to sell itself. Mr. Ackman also owns 5.7% of Valeant.

      


  • Bill Ackman's Pershing Square Releases Letter To Herbalife CEO Michael Johnson

    Pershing Square Capital Management, L.P. released today a letter to Herbalife (HLF) CEO Michael Johnson concerning his serious admissions about Herbalife and its conduct that were revealed by the New York Post. The letter reads as follows:


      



  • Follow Bill Ackman in Valeant Pharmaceuticals

    Over the past days hedge funds have been filing their form 13-F, which is a quarterly report of equity holdings filed by institutional investment managers with at least $100 million in equity assets under management, as required by the United States Securities and Exchange Commission (SEC).


    Bill Ackman (Trades, Portfolio)´s Pershing Square disclosed an equity portfolio valued at $14.97 billion at the end of the first quarter of 2015. The equity portfolio is mainly invested in Health Care (46%), Materials (31%) and Transports (19%) stocks.

      


  • Post-Mortem Of A Failed Investment: J.C. Penney

    In June 2012, I published an article outlining why I believed J.C. Penney (JCP) was a solid investment (here). At the time, the stock was trading at roughly $22 per share; three years later, it’s near $8 per share, for a loss on the investment of more than 60%. Clearly this is not how I envisioned this investment playing out.


    As painful as this experience has been, it has given me the opportunity to learn and improve; as an investor, I hope that I’ll take away the lessons needed to avoid similar mistakes in the future. I would consider failing to do so an even greater error than the investment itself.

      


  • A Close Look of Herbalife Clubs Worldwide: Part II

    Click here For Part I.


    The company has been fairly clear why it is like that. The explanation is that for a MLM it is important for distributors to protect the second sale.

      


  • A Close Look of Herbalife Clubs Worldwide: Part I

    This is a very long post. I have done a lot of work on Herbalife that should be made public – and I am travelling on several long-haul plane journeys which gave me time to splice it all together. [Now in New York via London and the Middle East.]


    There are Herbalife groups all around the world and they reflect the character of the community they are in.

      


  • The Latest Investing Moves by Seven Masters of the Universe

    45 days after quarter end, large institutional investors have to report their holdings to the SEC, which are then made available to the investing public. So as of late last week, we now have updated visibility into the trading machinations of the masters of the universe.


    Of course, the usual caveats apply. No matter how successful a manager is, it’s never a good idea to blindly follow their investment moves. By the time you or I get access to their trading moves, the data is as much as 45 days old. And for all we know, they may be selling it by the time we buy. Plus, as managers are not required to report short positions or options and derivatives positions, we also have no insight as to whether a stock might be a part of a long/short pair trade or some broader strategy.

      


  • Paul Tudor Jones Adds To Position in CSX Corp

    Paul Tudor Jones (Trades, Portfolio) is the president and founder of Tudor Investment Corporation. He is one of the most successful investors of current times. Last quarter, he increased his stake in CSX Corporation (NYSE:CSX) by buying 142,379 shares. As of March 31, he held 325,494 shares of the company.


      


  • A Look at Bill Ackman’s Investment in Air Products

    Bill Ackman (Trades, Portfolio) is known for his activist approach. 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.


    Air Products and Chemicals (APD) is one of his current activist targets. He currently holds 20,549,076 shares of the company. Air Products has a portfolio of products that include atmospheric gases, process and specialty gases, performance materials, equipment, and services. One of the key bullish arguments for Air Products is the company's margin expansion potential. Air Products used to have an operating margin of around 13% when Ackman initiated his position. His key argument was that with a right management and processes in place, the company’s margins can see a meaningful upside.

      


  • Bill Ackman Adds Two Positions to Portfolio in 1QFY15

    Bill Ackman (Trades, Portfolio) added two new positions to his portfolio, according to GrurFocus Real Time Picks. The new additions bring his number of stocks to a total of eight and valued around $14.97 billion. His portfolio's quarter-over-quarter turnover is 29%.


    Ackman purchased 19,473,933 shares of Valeant Pharmaceuticals International Inc (NYSE:VRX) at an average price of $177.40 a share.

      


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