Bill Ackman's Pershing Square has seen assets drop $1.6 billion in 5 months

  • Bill Ackman’s Pershing Square has seen assets drop $US1.6 billion in five months.
  • The firm managed about $US11 billion at the end of May, and about $US9.4 billion at the end of October.
  • The firm’s Pershing Square Holdings vehicle is down -3.3% for the year through October.

Assets at Bill Ackman’s Pershing Square have dropped by $US1.6 billion in five months.

The firm managed about $US11 billion at the end of May, and about $US9.4 billion at the end of October, according to the website for Pershing Square Holdings, a publicly traded Pershing vehicle.

Pershing Square Holdings, which is considered a proxy for the flagship hedge fund, is down -3.3% for the year through October.

The fund was up 4.3% this year through May, but lost -2.1% through October. That suggests that assets have dropped due, in part, to redemptions.

Pershing Square is an activist hedge fund, meaning it takes positions in stocks of companies it hopes to change.

The fund has been on a campaign to shake up ADP, the human resources firm, and has a position in Chipotle.

Ackman said earlier this week that Pershing Square had exited its short position in Herbalife, and is betting against the company with options. The activist took a $US1 billion bet against the nutritional supplements company in 2012, planning for the stock to fall, but it has since risen.

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