Pershing Square Down 3.6% In August

Sep 5 2013 | 1:20pm ET

A brutal summer for Pershing Square Capital Management has nearly wiped out the firm's 2013 gains.

The activist hedge fund lost another 3.6% in August, Reuters reports. Coupled with its 2.2% drop in July, the loss leaves Pershing Square—which was up about 8% through the middle of July—with a positive return of just 0.3% on the year.

In a letter to investors, Pershing Square chief William Ackman did not specify which investments were responsible for the swoon. But the firm is known to have taken large losses on its $1 billion short against nutritional supplements company Herbalife, and late last month sold off its entire 18% stake in struggling retailer J.C. Penney Co. at a loss of about $500 million.


In Depth

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.