Ackman Treads Water in April
Universal Music drags Pershing Square down, while Chipotle holds it up.
Bill Ackman’s Pershing Square Holdings was virtually flat in April, rising only 0.6 percent. The publicly-traded hedge fund is now up 4.3 percent for the year.
The near break-even performance last month appears to largely be the result of two holdings with vastly divergent returns: Universal Music Group and Chipotle Mexican Grill.