Newly-Listed Company PennTex Midstream Partners LP (PTXP) Gets Big Investment From This Billionaire

Moving on to the top three holdings of OZ Management, the fund increased its equity stake in Actavis plc (NYSE:ACT) by 320,352 shares, ending the most recent quarter with 3.66 million shares valued at $1.09 billion. Just a few days ago, an analyst from Bank of America Merrill Lynch, Sumant S. Kulkarni, raised the firm’s price target on Actavis to $350 per share and maintained its “Buy” rating on the stock. In the meantime, the stock has achieved a 16% gain year-over-year and is currently trading at $298.98 per share, which implies that there is still solid growth potential in the stock. Andreas Halvorsen’s Viking Global and John Paulson’s Paulson & Co represent the largest investors in Actavis plc (NYSE:ACT) from the hedge funds we track, owning 6.11 million shares and 5.64 million shares, respectively.

OZ Management reported the acquisition of 75,512 shares in Air Products & Chemicals Inc. (NYSE:APD), lifting the hedge fund’s overall position in the company to 5.54 million shares valued at $838.41 million as of March 31. The stock has increased by half a percentage point year-to-date despite suffering a significant slump at the beginning of the year. However, the company might boost its performance as it has recently announced that it entered into an agreement to supply bulk gases and bulk specialty gas supply systems for a new semiconductor fabrication plant in South Korea. Bill Ackman’s Pershing Square is the largest shareholder of Air Products & Chemicals Inc. (NYSE:APD), holding a stake of 20.55 million shares.

OZ Management also increased its position in Canadian Pacific Railway Limited (NYSE:CP) by slightly more than 14% to 4.40 million shares, the value of the stake being $805.57 million as of March 31. On June 4, the reputable investment management and research firm, Bernstein, indicated an “Outperform” rating and a $200 per share price target for Canadian Pacific Railway, indicating 20% upside potential for the stock, so it might represent a relatively good buying opportunity. Pershing Square is also by far the largest shareholder in Canadian Pacific Railway Limited (NYSE:CP) from our database, with 13.94 million shares valued at $2.55 billion.

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