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Canadian Pacific
3/8/2022
Rail News: Canadian Pacific
Billionaire investor William Ackman and his hedge fund Pershing Square Capital Management has a new stake in Canadian Pacific worth CA$280 million, according to news media reports. The investment makes Pershing Square one of CP's top 20 shareholders, reuters.com reported yesterday. Pershing Square reported owning 2.8 million CP shares as of Dec. 31, 2021, according to a March 7 regulatory filing cited in the report. The hedge fund began buying into the railroad in September 2011, but was forced to sell five years later to pay back investors as the fund faced losses. Ackman called those sales one of the firm's "greatest investment regrets," reuters.com reported.