Tyco International ( TYC) is another firm with a checkered past -- and another that pensions have been buying with both hands in the first quarter of 2012. Funds added nearly 2 million shares to their portfolios last quarter, increasing their stakes in Tyco by 14%. Tyco is making big moves internally right now. By September, the firm is expected to have completed its three-way split, breaking its ADT security business apart from its commercial security and fire business and its flow control unit. ADT is the crown jewel of the Tyco business, generating the biggest chunk of profits through long contracts and hefty recurring revenues earned at large margins. Even so, investors are hoping that the shift will squeeze some extra value out of the other parts of Tyco's business. This isn't the first time Tyco has taken on a split-up of its operations, so investors should find some solace in the company's previous successes at unlocking hidden value in the capital markets. It makes sense to follow pension funds' lead on this name. Tyco also shows up in Maverick Capital's portfolio and is one of SAC Capital's top holdings. To see these stocks in action, check out the Pension Buys Q1 2012 portfolio on Stockpickr. -- Written by Jonas Elmerraji in Baltimore.