Hedge fund titan Bill Ackman’s Pershing Square Holdings, the fund’s publicly traded vehicle, has fallen 11.4% in 2016, according to a performance update.
That performance is through January 12.
Pershing Square had its worst year in its history last year, falling 20.5%.
Ackman, a well-known activist investor, makes large, concentrated bets in a handful companies.
His largest holdings include, Valeant Pharmaceuticals, Air Products & Chemicals, Canadian Pacific, Mondelez, and Zoetis.
Another sizeable holding, the Howard Hughes Corporation, has fallen more than 19% this year. Pershing Square, which began building its stake in the company in the fourth quarter of 2010, last held 5.48 million shares of Howard Hughes, according to a securities filing from January 4.
Ackman has previously referred to Howard Hughes, which develops planned communities and mixed-use properties, one of the “best kept secrets on Wall Street.”
We’ll have more in a moment…
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