Ackman's Pershing Square loses 3.6 pct in August
BOSTON, Sept 4
BOSTON, Sept 4 (Reuters) - Hedge fund manager William Ackman told investors on Wednesday that his Pershing Square Capital Management lost 3.6 percent last month, according to a portfolio update sent to investors.
The fund is now barely positive for the year, showing a 0.3 percent gain through the end of August, according to the update, which was seen by Reuters.
Ackman has been hurt by losses in retailer J.C. Penney Co Inc and supplements company Herbalife Ltd, but he did not tell investors specifically which positions contributed to last month's losses.
The fund, which had roughly $12 billion in assets earlier this year, now lists its size at $10.73 billion.
Ackman stepped off the board of J.C. Penney in August after a disagreement over company strategy. Later in the month he sold his entire 18 percent stake in the company.
- Restraint marks Ferguson, Missouri protests for third straight night |
- Gaza gunmen execute 'collaborators'; mortar kills Israeli boy |
- U.S. says Russia must pull convoy from Ukraine or face more sanctions |
- Trucks from aid convoy to Ukraine start crossing back into Russia |
- U.S. hostage rescuers dropped from night sky: Syria activist