Wed, Apr 8, 2020
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Pershing Square Holdings outperforms market with 12.7 % gain

Friday, August 10, 2018

Laxman Pai, Opalesque Asia:

William Ackman's publicly traded hedge fund Pershing Square Holdings (PSH) has outperformed the Standard & Poor's 500 and FTSE 250 indices with a gain of 12.7 percent this year through Aug. 7.

A press release from the British investment trust dedicated to long-term investments in North American companies said that its gain was driven by positive second quarter performance, NAV in the first half of 2018 increased from $17.41 to $18.58, a 6.7% increase. Year-to-date performance, through August 7th, has increased to 12.7% (NAV per share is now $19.62) compared with 8.1% for the S&P 500 and 1.3 % for the FTSE 250 over the same period.

"While a few months of strong performance is too short a period to judge our performance, we believe that (Pershing Square Holdings) is back on track," the billionaire investor Ackman stated in his firm's interim financial report.

It said that the returns were principally generated from investment performance, and were enhanced by the PSH's recently completed own-share tender offer.

The rising prices at Chipotle Mexican Grill and Automatic Data Processing have fueled the performance. Chipotle added 5.6 percent while Automatic Data Processing, where Ackman lost a bitter proxy fight in 2017, added 5.1 percent, the financial report said.

According to the report, the fund's two newest stakes, in United Technologies Corporation (UTX) and Lowe's, also rose. At UTX, the fund has been lobbying ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing: Ray Dalio's Bridgewater scales down European short bets after $3.2bn windfall, Here's what top hedge funds are buying in the coronavirus stock market crash[more]

    Ray Dalio's Bridgewater scales down European short bets after $3.2bn windfall From Financial News: Bridgewater Associates, the world's biggest hedge fund, has retreated from shorting European stocks after making an estimated €2.9bn ($3.2bn), as its founder and co-chairman Ray Dalio c

  2. Bill Ackman writes letter to shareholders on coronavirus[more]

    Pershing Square Holdings (PSH)'s Bill Ackman wrote a letter to investors outlining his insight on the coronavirus pandemic in the United States. He revealed that PSH completed the process of exiting the hedges on 23 March, netting a gross $2.1bn for PSH, after turning 'increasingly positive on equit

  3. New Launches: LGPS Central sets up investment grade bond fund, Leeds Equity Advisors aims to raise $1bn for PE fund, RLI Investors to launch European last-mile logistics fund, DBL Partners IV targets $450m[more]

    LGPS Central sets up investment grade bond fund From IPE: LGPS Central, the asset pooling vehicle for eight local government pension schemes (LGPS) based in England's Midlands, has launched a global investment grade corporate bond fund in order to meet its partner funds' needs. The po

  4. Investing: Marathon sees cheap assets amid dislocation in credit, Deerfield's health care buying spree, It's time to buy shares again, says BlackRock, Credit Suisse, Fed is buying credit ETFs but one hedge fund is shorting them[more]

    Marathon sees cheap assets amid dislocation in credit From Bloomberg: Distressed-investment specialist Marathon Asset Management is buying beaten-up debt amid the greatest dislocation in credit markets since 2008, according to Bruce Richards, co-founder and chief investment officer of the

  5. People: Carlyle picks 2 deputy heads for Japan buyout advisory team, Ex-Kleinwort Hambros adviser takes senior role at multi-family office boutique[more]

    Carlyle picks 2 deputy heads for Japan buyout advisory team From PIonline.com: Takaomi Tomioka and Hiroyuki Otsuka were named deputy heads of the Japan buyout advisory team at Carlyle Group. The positions are new, confirmed a spokeswoman for the New York-based private markets investment g