Ackman’s Pershing Square starts year with a loss amid market turbulence

FILE PHOTO: William Ackman, founder and CEO of hedge fund Pershing Square Capital Management
FILE PHOTO: William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York, May 4, 2015. REUTERS/Brendan McDermid/File Photo

February 2, 2021

BOSTON (Reuters) – William Ackman’s Pershing Square Holdings fund declined 1.3% in January, according to an investor update, as broader stock indexes ended the month with losses amid reaction to the coronavirus vaccine rollout, the economy and turbulent trading in the last days.

The loss comes on the heels of Ackman’s record-setting 70.2% return in 2020.

The Standard & Poor’s 500 index fell 1.1% in January while the Dow Jones Industrial Average fell 2%.

(Reporting by Svea Herbst-Bayliss; Editing by Leslie Adler)