5 Stocks Billionaire Investor Bill Ackman Is Buying and Selling

Bill Ackman and his Pershing Square funds may be down, but they aren't out. Since Ackman is one of the most outspoken hedge fund managers and activist investors, Pershing Square's 13F filings are closely followed for insight into which stocks the billionaire investor is buying and selling on behalf of its clients.

Recent SEC filings show that Bill Ackman has been doing more buying than selling in Automatic Data Processing (NASDAQ: ADP), Howard Hughes (NYSE: HHC), Mondelez (NASDAQ: MDLZ), Air Products & Chemicals (NYSE: APD), and Restaurant Brands (NYSE: QSR).

Pershing Square's interest in ADP sets the stage for what could be a long and ugly activist campaign. The Ackman-owned hedge fund manager outlined in a regulatory filing that it effectively controls or has exposure to 36.8 million shares of ADP, effectively making it an 8.3% owner of the company.

Source: Fool.com