Billionaire hedge fund manager William Ackman’s Pershing Square Holdings Ltd PSHZF has fetched 62.8% in net gains on a year-to-date basis, according to the November report released by the investment trust. The Ackman-led company's otc shares have grown 72% from January to date.
What Happened: The Pershing Square Holdings portfolio grew 13.4% last month alone. With 10 long positions, the company’s portfolio is predominantly exposed to large-cap investments with total assets under management exceeding $11.39 billion, including outstanding debt.
Total strategy AUM, including core funds Pershing Square, L.P., Pershing Square International, Ltd., and Pershing Square Holdings, Ltd, was more than $17 billion.
Reuters reports that Ackman holds a bullish view for 2021, even as he cautions against possible volatility due to COVID-19 related uncertainty.
Why Does It Matter: Reportedly, Ackman has hedged his positions by investing a sizeable portion of funds in corporate credit spreads.
According to Forbes, the activist investor followed a similar strategy early in the year in February by purchasing insurance for bond indices. By disposing of these investments in the third week of March, Ackman generated close to $2.6 billion in profits.
Price Action: Pershing Square Holdings shares closed 3.7% higher at $33.86 in the otc market on Tuesday.
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