Post Holdings Inc. (POST) Chief Executive William Stiritz
reported a 5% ownership stake in nutritional-supplements maker
Herbalife Ltd. (HLF).
In a filing with the Securities and Exchange Commission, Mr.
Stiritz disclosed he owned about 5.4 million Herbalife shares. The
stake makes Mr. Stiritz one of Herbalife's biggest shareholders and
its largest individual shareholder. According to data from FactSet,
Herbalife's next largest individual shareholder is its Chief
Executive Michael Johnson, who held a 1.1% stake as of June 30.
A representative from Post said the investment in Herbalife was
a personal investment decision and not related to the company. Mr.
Stiritz wasn't available to comment.
An Herbalife representative wasn't immediately available to
comment.
Herbalife sells a range of products, including weight-loss
shakes and fitness supplements, operating through a wide global
network of independent distributors. The company has been embroiled
in a public battle with Pershing Square Capital Management LP's
William Ackman, who has accused the company of being a pyramid
scheme and made a big bet that the stock would fall. Herbalife has
vigorously rebutted the allegations and accused Mr. Ackman of
trying to manipulate its stock, a charge he has denied. Mr.
Ackman's wager that Herbalife shares will drop drew harsh criticism
from fellow hedge-fund managers, including Carl Icahn. Icahn
Associates is the company's largest stakeholder, with an
approximate 16.5% stake, according to FactSet Research.
Herbalife shares fell 1.8% to $59.90 in regular session trading.
The stock has jumped 82% since the start of the year.
Write to Nathalie Tadena at nathalie.tadena@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires