Last month, Ackman's publicly traded Pershing Square Holdings
portfolio gained 13.4%, lifting the $11.4 billion portfolio to a
net gain of 62.8% in the first 11 months of 2020, according to a
performance review.
Ackman recently told investors that the firm is having its best
ever year and that he is "bullish" for 2021. But he warned of
possible volatility ahead as the coronavirus continues to take
its toll.
To guard against swings, Ackman said he put on a new hedge --
roughly one third the size of the one he put on earlier this
year -- as corporate credit spreads are very tight. He earned
$2.6 billion in profits from the first hedge and plowed that
money back into the market, buying more of the stocks he already
owns at cheaper prices.
This summer Ackman raised the biggest blank-check fund ever
helping swell his firm's total assets under management --
including all hedge funds and Pershing Square Tontine Holdings
-- to $17 billion.
The average hedge fund gained 1.2% through the end of October,
according to Hedge Fund Research. November data is still being
compiled.
(Reporting by Svea Herbst-Bayliss; Editing by Christian
Schmollinger and Aurora Ellis)
[© 2020 Thomson Reuters. All rights
reserved.] Copyright 2020 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
![](column_spacer.png)
|
|