Billionaire Bill Ackman’s Pershing Square Capital Management Has 12.7% of Its Portfolio Invested in This Beaten-Down Stock
Is it a great long-term pick?
Overview
Pershing Square Capital Management, a hedge fund founded and led by the billionaire Bill Ackman, has underperformed the S&P 500 year to date.
Its returns look much better when we zoom out and look at the past couple of decades, but right now, it is being dragged down by several underperforming stocks, including Uber Technologies (NYSE:UBER).
Details
The ride-hailing giant is the largest holding in Pershing Square Capital Management's public equity portfolio, accounting for roughly 12.7% of the fund as of the second quarter.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.