Ackman's Pershing Square Hedge Fund Rises 27 Percent Through July

Monday, 04 Aug 2014 03:45 PM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Billionaire investor William Ackman's Pershing Square Holdings has risen 27.2 percent this year, according to an investor in the fund, after extending its gains modestly last month when many hedge fund managers suffered losses.

The Pershing Square Holdings fund inched up 0.6 percent in July. Performance at Ackman's $15 billion firm has long been watched closely, but never more so than now as he fights to seal a deal between drug companies Allergan Inc. and Valeant Pharmaceuticals International Ltd. He also periodically presents new information to underscore his argument that nutrition and diet company Herbalife Ltd. is running a pyramid scheme, something the company denies.

Performance numbers from other fund managers, including Daniel Loeb's Third Point, which fell 1.2 percent last month but remains up 4.7 percent year to date, show that July was a tough month for many hedge funds. The broader stock market sold off late in the month amid growing fears about U.S. interest rates and geopolitical concerns.

This year's returns rank Ackman among the industry's best performers and underscore just how much his portfolio has recovered from a year ago, when his short bet against Herbalife and a failed long position on retailer J.C. Penney took a bite out of returns. He exited the Penney bet in August 2013. Meanwhile, holdings such as Air Products & Chemicals Inc. and Canadian Pacific Railway Ltd. fared well last month.

The last few weeks have been eventful for the activist investor. He publicly ended a long-running feud with rival Carl Icahn with a hug, and a week later choked back tears during a fizzled presentation on Herbalife, when he called the company a criminal enterprise and compared it to drug dealers, failed energy company Enron and the Nazis.

On Friday, Botox maker Allergan accused Ackman, its biggest investor, of breaking insider trading laws while working with rival Valeant Pharmaceuticals.

© 2014 Thomson/Reuters. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Researcher Ash: 'Odds Very Slim' Russian Central Bank Will Dare Sell Any Gold'

Sunday, 21 Dec 2014 18:35 PM

Some financial commentators have speculated that the ruble's plunge - it has dropped 44 percent against the dollar so fa . . .

Former Finance Minister: Russia Now in 'Full-Fledged Economic Crisis'

Monday, 22 Dec 2014 09:39 AM

Russia faces a full-blown economic crisis next year that will trigger a series of defaults and the loss of its investmen . . .

Hoover's Sperry: Unstable Mortgages Will Fuel Next Housing Collapse

Sunday, 21 Dec 2014 18:20 PM

Washington is pushing housing loans down the same path that led to the last financial crisis, says Paul Sperry, a media  . . .

Most Commented
Top Stories

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved