Rumors swirled around Ackman’s latest position in early December

The Pershing Square 13-F filed in November has revealed Bill Ackman’s latest stake. According to the SEC filing, Ackman’s hedge fund has scooped up a 2.9 million-share stake in Agilent Technologies. The firm specializes in laboratory instruments and software.

The total stake cares a value of $246 million based on Monday’s closing price. The news killed off rumors that Pershing Square had taken a stake in online streaming giant Netflix.

An analyst at Gordon Haskett had speculated that Ackman had purchased a stake in Netflix. The firm cited a large options trade earlier this year that transferred through an investment bank. The buyer remained anonymous. The analyst had previously discovered that Carl Icahn was buying shares of HP Inc.

The news of Ackman’s Agilent purchase sent Netflix stock lower after the bell.

The Pershing Square 13-F

As we noted earlier this week, Ackman’s fund tightened its number of positions earlier this year. Pershing owns B shares of Berkshire Hathaway, Starbuck’s Corporation, Chipotle Mexican Grill, Hilton Worldwide Holdings, Restaurant Brands International, and Lowe’s Companies.

Finally, Ackman has also been a long-time holder of Howard Hughes Corp., where he serves as the Chairman of the Board. The company recently boosted its stake in Howard Hughes Corp. from 12.6% to 14.8%

Pershing Square is on pace to return more than 50% after fees in 2019. The fund saw gains of roughly 45% through the first six months of the year.

Related: Pershing Square Capital Boosts Stake In Howard Hughes