Pershing Square Punished In July, Down 2.2%

Aug 5 2013 | 11:30am ET

A terrible month for two of its largest positions doomed Pershing Square Capital Management to a red July.

The New York-based hedge fund fell 2.2% on the month. The firm was burned by its $1 billion short bet against nutritional supplements company Herbalife, whose shares soared 40% in July, and its big long bet on retailer J.C. Penney Co., whose shares dropped 17% on the month.


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