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Ackman's Pershing Square Fund Surges As Universal Soars In Stock Debut

by reuters.com posted 3weeks ago 3 views
Bill Ackman, CEO of Pershing Square Capital, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike Blake/File Photo BOSTON, Sept 22 (Reuters) - Hedge fund manager William Ackman's 10% bet on Universal Music Group helped nearly double returns at his own portfolio to 15.3% this week after shares in the world's biggest music label surged in their first hours as a publicly traded company. Ackman, who runs hedge fund firm Pershing Square Capital Management, told investors that his Pershing Square Holdings portfolio returned 15.3% after fees since January.

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