Hedge Fund Billionaire Bill Ackman Looks for 50% Returns in 2019

December 9, 2019 | Alternative Investments, News
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Pershing Square Capital Adds Another 3.4% in November

Billionaire Bill Ackman and his hedge fund are having a great 2019. Last month, Ackman’s hedge fund added another gross return of 3.4% — or 3.2% after fees. This gain brings Pershing Square (after fees) to a 51.3% return so far in 2019. What’s crazy about this number is that Ackman’s firm hasn’t had a year of net positive returns since 2014.

Last year, the fund had a positive return of 0.7%. However, after fees, investors saw a loss of -0.7%.

Billionaire Bill Ackman and his Correct Bets

Ackman’s fund has centered on more conviction in 2019. The hedge fund manager slashed his fund’s long positions from 11 to the seven it held at the end of the third quarter. According to GuruFocus, the fund’s holdings comprised roughly $6.27 billion at the end of the period. Ackman previously sold his firm’s position in Automatic Data Processing and United Technologies over the summer.

Pershing owns B shares of Berkshire Hathaway. Ackman previously stated that he expects Warren Buffett’s company to see a substantial uptick in price in the future.

It also owns stakes in Starbuck’s Corporation, Chipotle Mexican Grill, Hilton Worldwide Holdings, Restaurant Brands International, and Lowe’s Companies. Finally, Ackman has also been a long-time holder of Howard Hughes Corp., where he serves as the Chairman of the Board. The company recently boosted its stake in Howard Hughes Corp.

Related: Pershing Square Capital Boosts Stake In Howard Hughes

 

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