5 Stocks to Buy According to Centiva Capital

1. Pershing Square Tontine Holding (NYSE:PSTH)

Centiva Capital’s Stake Value: $22,091,000
Percentage of Centiva Capital’s 13F Portfolio: 0.42%
Number of Hedge Fund Holders: 60

Pershing Square Tontine Holding (NYSE:PSTH) is another company that proposes to enter into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more other companies. Pershing Square Tontine Holding (NYSE:PSTH) was founded in 2020 in New York.

On July 12, Bill Ackman, the founder and chief executive officer of Pershing Square Tontine Holding (NYSE:PSTH) dissolved the largest SPAC ever and returned $4 billion to investors after failing to find a target company.

In the first quarter, Centiva Capital reduced its stake in Pershing Square Tontine Holding (NYSE:PSTH) by 43%, with its position worth about $22.1 million on March 31. Pershing Square Tontine Holding (NYSE:PSTH) has featured on Centiva Capital’s portfolio since the third quarter of 2020.

Among the hedge funds tracked by Insider Monkey, Andrew Hahn’s Ursa Fund Management is a notable stakeholder of Pershing Square Tontine Holdings, Ltd. (NYSE:PSTH), with 2.88 million shares worth $57.5 million. Overall, 60 hedge funds were bullish on Pershing Square Tontine Holdings, Ltd. (NYSE:PSTH) at the end of March 2022, holding collective stakes amounting to approximately $975 million.

Here is what Pershing Square Capital Management said about Pershing Square Tontine Holdings, Ltd. (NYSE:PSTH) in its Q4 2021 investor letter:

“While seeking a transaction for PSTH, we are simultaneously looking to improve its structure with the launch of SPARC.

SPARC seeks to improve upon PSTH’s structure:

✓ Investors opt-in to the initial business combination (“IBC”)

✓ Reduced opportunity cost with no investor funding until a target is identified

✓ Amount of capital raised can be precisely tailored to capital requirements of merger partner

✓ Up to 10 years to complete a transaction vs. 2 years for a typical SPAC

✓ No underwriting fees

✓ Pure common stock capital structure other than 20% out-of-the-money warrants on 5.21% of shares outstanding held by Pershing Square funds and SPARC directors

Timing of SPARC distribution assuming receipt of regulatory approval:

If PSTH executes an IBC before SPARC registration statement is declared effective, distribution of SPARs to PSTH shareholders and warrant holders would occur shortly prior to IBC closing.

If PSTH does not consummate an IBC, distribution would occur concurrently with return of PSTH capital in trust…” (Click here to see the full text)

You can also take a peek at 10 Stocks to Buy According to Francis Chou’s Chou Associates Management and 10 Stocks to Buy According to William Von Mueffling’s Cantillon Capital Management

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