Ackman 's Pershing Square Holdings Down -7.1% in March

Apr 4 2016 | 4:10pm ET

The ongoing travails of Valeant Pharmaceuticals dragged down performance of BIll Ackman's Pershing Square Holdings again last month.

The beleaguered Canadian company’s mid-March meltdown pushed Ackman’s infamous investments in the firm even further into the red and helped push Pershing Square to a net -7.1% loss for the period.

The March tally leaves Ackman’s fund down -25.6% for the year to date through March 31, according to updated return information on the vehicle’s website. The portfolio continues to be comprised of eleven long positions and one short position.

Pershing Square Holdings is a publicly listed proxy for Ackman’s Pershing Square LP hedge fund. He raised $3 billion when he listed Pershing Square Holdings as a permanent capital vehicle in Amsterdam in October 2014. The entity was warned on March 17 by Standard and Poors that it may cut Pershing Square Holdings’ BBB credit rating following Valeant’s latest brutal selloff.

Pershing Square Holdings directly manages $3.82 billion, while the total invested in the strategy via all Pershing affiliates, including Ackman’s flagship hedge fund Pershing Square LP, was around $11.61 billion at the end of March.

Illustrating just what kind of drubbing Ackman’s formerly high-flying fund has endured, in March 2015, Pershing Square Holdings directly managed $6.8 billion while total firm AUM was more than $19.4 billion. 

In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...


FINalternatives Trending

From the current issue of