Bill Ackman's hedge fund firm Pershing Square Capital Management has filed an amended 13D with the SEC indicating they've trimmed their stake in Canadian Pacific Railway (CP).
Per the filing, Pershing now owns 8% of the company with over 13.9 million shares. This is a decrease of over 3.2 million shares since their last disclosure at the end of 2013.
The latest filing was due to activity on April 28th and indicates they sold at $149.75. CP has been a big winner for Pershing so it appears as though they're simply locking in some profits.
In other recent activity, Ackman has also built a new Allergan stake.
Per Google Finance, Canadian Pacific is "has 14,700-mile network serving the principal business centres of Canada, from Montreal to Vancouver, British Columbia and the United States Midwest and Northeast regions. Its network is consisted of four primary corridors: Western, Eastern, Central and the Northeast the United States."
Wednesday, April 30, 2014
Pershing Square Trims Canadian Pacific Stake
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