Ackman’s Hedge Fund Gains 11% in March After Recovery Bet
- Pershing Square increased wagers in Lowe’s, Hilton, Berkshire
- Sculptor’s master fund lost 9% last month amid market turmoil
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Bill Ackman’s Pershing Square Capital Management gained 11.1% in March after making a $2.5 billion “recovery bet” on the U.S. economy.
Pershing Square, which runs $7.3 billion and has long bets on 10 stocks, is up 3.3% for the year, according to a public document posted on its website. The S&P 500 Index fell 12.5% in March and is down more than 20% in 2020.