BUYING CONSUMER PRODUCTS: The big-money investors must have beauty on their mind. Activist investor William Ackman’s Pershing Square Capital Management detailed its stake in Procter & Gamble Co. in a Securities and Exchange Commission filing Tuesday. As of June 30, the fund owned 21.9 million shares of P&G valued at $1.28 billion, as well as 8.4 million call options. Altogether, Ackman controls 1.1 percent of P&G’s stock.

Separately, Edward Lampert’s RBS Partners revealed that it bought 145,922 shares of Avon Products Inc. The Sears Holdings Corp. chairman controls just 0.03 percent of the direct merchant’s stock.

This story first appeared in the August 15, 2012 issue of WWD.  Subscribe Today.

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