Pershing Square’s Bill Ackman disclosed today that he kept buying Family Dollar (FDO) even after his presentation at the Ira Sohn Conference. Insider Monkey already transcribed that presentation for you, so you can read his reasoning behind this investment. Ackman now owns 10.9 million shares or 8.9% of the company. Two weeks ago Ackman had only 5.8 Million shares. On May 25th, the day Ackman presented his thesis, FDO closed at $54.82. Today the stock jumped more than a dollar after Ackman’s 13G filing. It closed at $52.57.
Here are the list of other hedge fund managers with positions in FDO at the end of first quarter:
1. Nelson Peltz – Trian Partners: $318 Million position
2. Stephen Mandel – Lone Pine Capital: $289 Million position
3. John Paulson – Paulson & Co.: $177 Million
4. James Dinan – York Capital: $101 Million
5. Eric Mindich – Eton Park Capital: $91 Million
6. Jim Simons – Renaissance: $91 Million
7. D.E. Shaw – D.E. Shaw: $76 Million
8. Pavel Begun – 3G Capital: $38 Million
As one can see Bill Ackman is hardly the first investor who is bullish about FDO. Now you can buy this stock at a $2 discount to what was paid by some investors right after Ackman presented.