Ackman Treads Water in April

Universal Music drags Pershing Square down, while Chipotle holds it up.

Bloomberg/Michael Nagel

Bloomberg/Michael Nagel

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.

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