Sachem Head Capital Management drops position in Zoetis Inc (updated)

Voltronic Power Technology

12/05/2016 19:49

(Adds additional hedge fund stock ideas) 
    By Lawrence Delevingne and Svea Herbst-Bayliss 
    LAS VEGAS, May 12 (Reuters) - Scott Ferguson said on 
Thursday that his hedge fund firm Sachem Head Capital Management 
had exited its position in the stock of animal healthcare 
company Zoetis Inc  ZTS.N  earlier this year. 
    Ferguson's firm brought the investment to the attention of 
Pershing Square's William Ackman and both made an investment in 
2014, Ferguson said in an appearance at the SkyBridge 
Alternatives Conference in Las Vegas. 
    He added that his fund had made money on the bet and that 
the company was very responsive to the activists' suggestions, 
but it was time to move on and find other opportunities. 
    Pershing Square recently reduced its holding in Zoetis. 
    Clifton Robbins, speaking on the same activist investing 
panel at the hedge fund-heavy event, said his Blue Harbour Group 
now has a position in chipmaker Xilinx Inc  XLNX.O . Robbins 
said he was discussing the position for the first time. 
    Teresa Barger, chief executive officer of Cartica 
Management, repeated that her firm is invested in Taiwanese 
company Voltronic Power  6409.TW . 
    Jeff Smith of Starboard Value spoke again about his firm's 
most prominent investment, Yahoo  YHOO.O . Starboard recently 
agreed with the company to get board seats and Smith said his 
job as a new board member is to improve the strength of the 
company's core business. 
     
 
 (Reporting by Lawrence Delevingne and Svea Herbst; Editing by 
Chris Reese and Tom Brown) 
 ((Lawrence.Delevingne@thomsonreuters.com; +1 646-223-5362; 
Reuters Messaging: lawrence.delevingne.reuters.com@reuters.net)) 
 
Keywords: HEDGEFUNDS SACHEMHEAD/ZOETIS