Activist Investor and Billionaire Bill Ackman is Buying These 2 Stocks

Agilent Technologies, Inc. (NYSE:A) largest stakeholder after Pershing Square is Ian Simm’s Impax Asset Management, with 4 million shares worth $599 billion.

In a second-quarter letter, Pershing Square outlined that:

“Our large commitment to UMG required that we raise cash from the sale of one of our other investments. In light of the high quality of companies in our portfolio, this was a diffi cult decision to make. Ultimately, we chose to sell Agilent, as its current share price approached our conservative estimate of intrinsic value. If we did not need the capital, we would not have sold the stock.

Agilent has been a highly successful investment since our original purchase nearly two years ago, compounded by our additional investment in the company in the Covid market decline last year. Agilent’s stock price has increased 2.2 times since our initial purchase as a result of the company’s acceleration in revenue growth and profi tability.10 Agilent has been a critical supplier of technology and services to labs around the world fi ghting the Covid pandemic. The company’s management team led by Mike McMullen deserves enormous credit for the company’s success and for its important contribution to science and the fi ght against Covid for which we all should be extremely grateful.”