Pershing Square Holdings, the publicly traded vehicle led by hedge fund billionaire Bill Ackman, has been halted.
Pershing Square Holdings, which trades in Amsterdam, was last down $1.47, or down 9.77%, at $13.58.
A Pershing Square spokesperson has yet to respond to our request for comment.
Ackman is the largest hedge fund shareholder of Valeant Pharmaceuticals. The hedge fund owns more than 21 million shares.
Valeant’s share price has fallen around 40% on Tuesday after the company reported fourth-quarter earnings results that fell below analysts expectations and cut its revenue forecast for the year by about $1.5 billion, or 12%.
Ackman’s lost more than $500 million on his Valeant position since Monday’s close. His losses to date on his Valeant investment are estimated at north of $2 billion.
Pershing Square Holdings was down 19.3% for the year through March 8. The fund’s latest performance data is expected to come out this week.
It follows a brutal 2015, when the fund fell more than 20.5%, making it the worst year in its history.