Ackman's Pershing Square loses 3.6 pct in August

BOSTON, Sept 4 Wed Sep 4, 2013 11:11am EDT

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.

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Comments (1)
RenePorcile wrote:
Can Ackman lose more than his $1 Billion bet, shorting HLF? Ackman doesn’t have enough shares in the float to cover!

Sep 04, 2013 12:16pm EDT  --  Report as abuse
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