- William Ackman's very public fights over Herbalife and J.C. Penney have proven to be rather costly: the value of assets under management at the activist investor's Pershing Square firm were reportedly down by $1.2B at the end of September from $12.4B on March 1.
- Pershing's main fund is up 0.5% on the year, well below the S&P 500's 20% return.
- Pershing Square recently suffered a loss of over $600M on the sale of its JCP stake, while it's also down on a bet against Herbalife. Ackman this week restructured his $1B short position on the company in order to limit the losses.
Ackman's Pershing Square down $1.2B since March
This was corrected on 10/07/2013 at 10:39 AM.
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