Pershing Square Capital Management is a hedge fund based in New York and founded in 2004 by Bill Ackman. According to the SEC 13F fillings for the third quarter that ended on September 30, 2014, the top three holdings of Pershing Square Capital Management Company included Allergan Inc. (NYSE:AGN), Canadian Pacific Railway Ltd (NYSE:CP) and Air Products & Chemicals Inc. (NYSE:APD).
Allergan Inc. (NYSE:AGN) was the primary investment of Pershing Square with investment worth $5.1 billion. Allergan Inc. (NYSE:AGN) is a pharmaceutical company based in Invine, California. It produces ophthalmic, dermatology, Botox, urology and neuroscience Pharmaceuticals among other cosmetics. Allergan Inc. has a total of 8 manufacturing plants in different countries in the world. Pershing Square was the topmost shareholder of the company with shares totaling to 28.9 million. Paulson & Co came second with 5.4 million shares. (You can see complete list on hedge funds which hold positions on Allergan Inc. (NYSE:AGN) atthe end of the third quarter.)
The second largest investment of Pershing Square was Canadian Pacific Railway Ltd (NYSE:CP) with investment valued at $2.9 billion. Canadian Pacific Railway Ltd is a Canadian class 1 rail carrier and railway service provider in Canada and parts of United States. On November 17, 2014, the Canadian Pacific Railway Ltd (NYSE:CP) announced to have reached an agreement of selling its Southern portion of Delware & Hudson railway to Norfolk Southern Corp, their rivals. The 450 kilometers track will cost Norfolk Southern US$217 million.
Air Products & Chemicals Inc. (NYSE:APD) came out third on the investment list of Pershing Square accounting for a total of $2.7 billion. Air Products & Chemicals Inc. (NYSE:APD) is a corporation that sells gases, chemicals and equipment for industrial uses. Pershing Square was the top shareholder of Air Products & Chemicals Inc. with 20.5 million shares. Oz Management came second with shares totaling to 4.8 million.
This article has been written by Victor Ochieng.