Bill Ackman’s Pershing Square Bought More $ALEX

Bill Ackman’s Pershing Square recently reported its 8.5% activist stake in Alexander & Baldwin, Inc. (ALEX). The 13D filing showed Bill Ackman bought approximately 102 thousand shares in ALEX, at $42.96 on December 2nd, giving him totally 3,561,943 shares in the stock. Probably it’s a typo in the number of shares because Bill Ackman reported the same amount in his past two 13F filings. Now ALEX is trading at $41.95. The stock has returned 8% in 2011, versus SPY’s break-even in 2011.

Bill Ackman

There are several other hedge funds which were also bullish about the stock in the third quarter. Chuck Royce’s Royce & Associates took a smaller position than Pershing Square. The firm reported 495 thousand shares in ALEX at the end of September. Robert Jaffe’s Force Capital had 304 thousand shares while Curtis Schenker and Craig Effron’s Scoggin had 255 thousand shares in the stock. Martin Whitman’s Third Avenue Management sold out its entire 1.14 million shares position in ALEX during the third quarter.

Bill Ackman is a long term value investor, taking advantage of short term downward moves in prices. He is particularly successful at special situations investments. William Ackman’s Pershing Square has a very concentrated portfolio. Bill Ackman’s returns have displayed option-like characteristics in 2009 and 2010. His General Growth Properties investment is almost as big as John Paulson’s subprime shorts. In May 2009, he recommended GGP stock at the Ira Sohn Conference and the stock returned more than 1000% since then. As a result of that investment, Ackman had a great 2010, returning 29.7%. This is very important because one might be imitating 90% of Ackman’s holdings and getting below market returns while Ackman’s clients enjoy 30% returns.

Per Google Finance, Alexander & Baldwin, Inc. “is a multi-industry corporation with its primary operations centered in Hawaii. A&B operates in five segments in three industries: Transportation, Real Estate, and Agribusiness. The Transportation Industry consists of Ocean Transportation and Logistics Services segments. The Real Estate Industry consists of two segments, both of which have operations in Hawaii and on the United States Mainland. The Real Estate Sales segment generates its revenues through the development and sale of land and commercial and residential properties. Agribusiness, which contains one segment, produces bulk raw sugar, specialty food grade sugars, molasses, green coffee and roasted coffee; markets and distributes green coffee, roasted coffee, and specialty food-grade sugars; provides general trucking services, mobile equipment maintenance, and repair services in Hawaii; and generates and sells, to the extent not used in the Company’s Agribusiness operations, electricity.”

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!