April 2 William Ackman's Pershing Square LP fund, whose big bet against Herbalife and on mortgage giants Fannie Mae and Freddie Mac has made headlines in recent weeks, on Wednesday reported double-digit gains for the first three months of the year.
Ackman's $12 billion Pershing Square Capital Management told investors that its Pershing Square LP fund gained 10.7 percent in the first quarter. The fund slipped 0.6 percent in March.
For Ackman's investors, the numbers signal a dramatic comeback after lackluster numbers in 2013 and at a time many prominent hedge funds are nursing losses due to a sell off in tech stocks. (Reporting by Jennifer Ablan; Writing by Svea Herbst-Bayliss; Editing by Dan Grebler)