Friday, 31 October 2014
Last updated 14 hours ago
Jan 16 2008 | 12:21pm ET
Activist hedge fund manager William Ackman has boosted his exposure to a pair of retail targets.
His Pershing Square Asset Management this week revealed that its exposure to discount retailer Target Corp. has increased from to 12.63% from 12.6%, and its exposure to bookseller Borders Group rose from 21.8% to 24.4%.
Both figures represent ownership stakes and stock-settled call options and cash-settled total return swaps, and not just voting power. In fact, Ackman’s voting stake in Target declined slightly, from about 10% to 9.7%, as Pershing Square shed roughly 2.5 million shares.
Pershing Square owns an 18% voting stake in Borders.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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