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Paul Singer's hedge fund Elliott Associates has filed a 13G with the SEC in regards to shares of General Growth Properties (NYSE:GGP). The disclosure was made due to activity on March 9th and the hedge fund now shows a 5.3% ownership stake in the company with 16,738,695 shares. This aggregate beneficial ownership includes various investment entities and subsidiaries of Elliott. The overwhelming majority of Elliot's position is via common stock while 103,695 shares are via convertible notes.

Elliott Management was founded by Paul Singer back in 1977 and managers over $12 billion today, typically focusing on distressed assets. Our additional coverage of Elliott Management's Paul Singer includes his recent insight at a hedge fund panel and his previous thoughts at the Ira Sohn conference.

Elliott's entrance into GGP means that yet another prominent investor is bullish on the company's prospects as it emerges from bankruptcy. Other notable investors that have sizable stakes in General Growth Properties include Bill Ackman's hedge fund Pershing Square, Whitney Tilson's T2 Partners, and Bruce Berkowitz's Fairholme Fund.

Taken from Google Finance:

General Growth Properties is a self-managed real estate investment trust (REIT). The Company has ownership interest in, or management responsibility for, over 200 regional shopping malls in 43 states, as well as ownership in master planned communities and commercial office buildings. GGP’s business is focused in two main areas: Retail and Other.

To see what other stocks hedge funds are taking large positions in, head to Goldman Sachs' VIP list and the hedge fund generals list.

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Disclosure: No positions

Source: Elliott Associates Discloses General Growth Properties Stake