Pershing Square Off In March, Up 10.7% In Q1

Apr 3 2014 | 11:28am ET

Pershing Square Capital Management lost some ground in March, but not enough to deprive the New York-based firm of a double-digit return in the first quarter.

Pershing Square’s flagship fund fell 0.6% last month, it told investors yesterday. The decline left the fund up 10.7% on the year.

March proved a mixed month for the $13.1 billion firm. After more than a year of agitation for such a probe, the Federal Trade Commission last month opened an investigation into Herbalife, the nutritional supplements company that Pershing Square calls a pyramid scheme—and which it has a $1 billion short bet against. But its Herbalife gains were tempered by big losses on government-backed mortgage giants Fannie Mae and Freddie Mac. Pershing Square owns more than 10% of each company, betting they’ll survive plans to replace them. But their shares plummeted when a bipartisan deal to replace them emerged in the U.S. Senate.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...