Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Fund Highlights: Bill Ackman, SAC Capital Advisors, Barrick Gold Corporation (USA) (ABX)

Editor’s Note: J.C. Penney Company, Inc. (NYSE:JCP), Barrick Gold Corporation (USA) (NYSE:ABX), Herbalife Ltd. (NYSE:HLF)

EXCLUSIVE-UPDATE 1-Ackman’s fund flat after August losses – sources (Reuters)
William Ackman’s Pershing Square Capital Management is largely flat for the year after a bruising August in which the hedge fund lost 3.6 percent, said two investor sources who are not permitted to discuss the private fund’s numbers publicly. The sharp decline was largely driven by big bets on J.C. Penney Company, Inc. (NYSE:JCP) and Herbalife Ltd. (NYSE:HLF) and have left Pershing Square, with $10.73 billion in assets, badly trailing the broader hedge fund industry and the overall stock markets. Pershing Square’s poor performance stands in sharp contrast with the benchmark Standard & Poor’s 500 Index, which was up 14.5 percent for the year as of Aug. 31.

Bill Ackman in front of Perishi

U.S. judge puts SAC Capital civil lawsuit on hold (The Globe and Mail)
A U.S. judge put on hold a civil forfeiture lawsuit against Steven A. Cohen’s SAC Capital Advisors hedge fund on Wednesday while a criminal insider-trading case moves forward. On the same day, the firm announced a second round of retention bonuses in a bid to keep portfolio managers and analysts as SAC defends itself against the criminal charges. U.S. District Judge Richard Sullivan in New York agreed during a hearing to a request by prosecutors to temporarily stay the proceedings on the grounds that allowing depositions and document discovery to proceed would adversely hurt the criminal case.

U.S. hedge fund Two Fish Management calls for break up of Barrick Gold (Rocky View Weekly)
A U.S. hedge fund is making a renewed call for changes at Barrick Gold Corporation (USA) (NYSE:ABX) calling for the break up of the company and the addition of a mining engineer and geologist to its board. Mike Morris, principal and founder of Two Fish Management, said Wednesday that there is no compelling reason for Barrick Gold Corporation (USA) (NYSE:ABX) to own a worldwide conglomerate of gold mines. “The market is essentially assigning a massive conglomerate discount to the company,” he said Wednesday.

Lyxor names new global leader for hedge fund research (Pensions & Investments)
Frank Frecentese was named global head of hedge fund research by Lyxor Asset Management, confirmed Mehdi Aliouat, a company spokesman. Mr. Frecentese is based in Lyxor’s New York office and reports to Lionel Erdely and Nicolas Gaussel, co-chief investment officers. Mr. Frecentese joined Lyxor in May as managing director and deputy global head of hedge fund research, Mr. Aliouat confirmed. He replaced Dennis Heskel as the firm’s leader of global hedge fund research, overseeing teams in New York and throughout Asia and Europe, Mr. Aliouat said. Mr. Heskel will retire in October.

J.C. Penney Replaces Bill Ackman With a Hedge Fund Dream Team (Yahoo! Finance)
Name brand hedge fund investors bought discounted shares of J.C. Penney Company, Inc. (NYSE:JCP) Bill Ackman dumped on the market last week. Tuesday afternoon it was revealed that “suggestivist” investor Larry Robbins of Glenview Capital has amassed a 9.1% stake in J.C. Penney, up from less than 4% at the end of June. Also climbing on the J.C. Penney’s train was Kyle Bass who bought a 5.2% stake for his Hayman Capital fund. The announcements come on the heels of Richard Perry and his Perry Corp added 3 million shares to its position and now controls 8.9% of the company. Perry, who also owns Barney’s New York, has pushed for Penney’s to replace CEO Mike Ullman with current Foot Locker (FL) CEO Ken Hicks.

Is this hedge fund using its ‘common sense?’ (

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.