Bill Ackman’s Pershing Lost 4.7% in July, Erasing Most of 2024 Gains
- Loss follows a failed IPO for a US-traded closed-end fund
- Universal Music was a large contributor to July’s performance
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Bill Ackman’s main hedge fund erased most of its 2024 gains in the last half of July, another blow to the billionaire who pulled his IPO for a US-traded closed-end fund this week because of lackluster demand.
Pershing Square Holdings was up 8.7% as of mid-July for the year. The hedge fund lost 4.7% in the month, ending with a gain of 0.7% year-to-date.