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Bill Ackman is buying BP CDS

|Includes:BP p.l.c. (BP), WEN, YUM
William (Bill) Ackman of Pershing Square Capital Management LP recently sent out their 2010 Q2 financial performance letter updating investors on the firm’s changes in investments and its current stable of holdings. Headlining those changes appears to be the new investment in British Petroleum CDS.

Disclosure: long all stocks
Stocks: BP, WEN, YUM