Going to reprint a post from August rather than type it again. Now that hegdies are reporting holdings, the inevitable “so and so sold out of GGP” emails are coming. Nope
So I am sitting there at the kids hockey practice Friday afternoon having a blast watching son #1 score some pretty goals and son #2 go “Abu Ghraibe” on a few kids when my blackberry starts going nuts. “Ackman sold GGP shares” were the emails and a few twitter DM’s said the same. Buzz kill…..
You see Pershing Square filed its 13F late Friday and General Growth was not listed as a holding….
Here is the story. General Growth Properties (GGWPQ) is no longer classified as a “reportable security” for the purposes of 13F filings by the SEC. Don’t ask we why they say it isn’t (my guess is because it is in bankruptcy) I make no claim as to being able to discern why the SEC does what it does, it just is…
BUT, as a member of the Board of General Growth, his activity as it relates to the stock would be reportable on a Form 4 filing. Because of that, if/when he does sell/buy actual shares, we will be notified ASAP as Form 4’s must be promptly filed….
Tilson has trimmed his GGP position, but it is still his largest.