Bill Ackman is getting crushed, again

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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