Bill Ackman's hedge fund is pacing itself for returns in excess of 50% through 2019 after three consecutive yearly losses. Pershing Square Capital Management posted a 3.4% gross gain for November, or 3.2% after fees. The month's performance brings its year-to-date return to 51.3% after fees. Pershing Square nearly secured a net yearly gain in 2018, but fees dragged its 0.7% growth to a -0.7% loss. Visit the Business Insider homepage for more stories. Bill Ackman's hedge fund is on track to land massive returns after three years of negative net performance.