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Activists Post Strong Q3, but Dispersion Is High

Year-to-date results at individual funds run by firms including TCI, ValueAct, Pershing Square, and others are mixed.

       Bill Ackman, Pershing Square Capital Management (Bloomberg) The best-performing hedge fund strategy in the third quarter of 2016 by far was shareholder activism. But a look at how some of the better-known funds performed during the quarter shows that behind the aggregate figure, individual fund performance was decidedly mixed. Activist funds scoop

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