BOSTON, Sept 4 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.