William 'Bill' Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. REUTERS/Brendan McDermid
NEW YORK (Reuters) - William Ackman’ hedge fund Pershing Square Capital Management sold out of snack maker Mondelez International during the third quarter some three years after first making the investment.
“It was not a barn burner of an investment,” Ackman told investors on a conference call on Wednesday, adding that he has found better places to invest the cash. He did not say how much he made or lost or exactly when his fund exited the position.
Reporting by Svea Herbst-Bayliss
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