Bill Ackman's Pershing Square Down 11% in 2016 After '15 Lossesby
Pershing Square Holdings Ltd., the publicly traded security of Bill Ackman’s activist hedge fund, lost 11.4 percent this year through Jan. 12, according to its website.
The performance carried Ackman’s losing streak into the new year amid market weakness. The vehicle, which makes wagers on and against stocks, fell 20.5 percent in 2015 on the back of a decline in shares of drugmaker Valeant Pharmaceuticals International Inc.
All eight of the firm’s publicly disclosed long holdings at the end of the third quarter have fallen in January, led by a 38 percent drop in Platform Specialty Products Corp.
Pershing Square Holdings, which is listed in Amsterdam, mirrors Pershing Square’s hedge fund investments. It began trading in October 2014.