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Ackman’s Surging Comeback Hits a Snag

The May downturn has trimmed Pershing Square’s big gains.

Bill Ackman’s stunning comeback hit a snag in May, as his Pershing Square Holdings hedge fund lost 3.7 percent as markets tumbled on Trump’s trade war talk. The monthly performance was disclosed to investors Monday evening. The fund, now Ackman’s largest, is still up 34.5 percent for the year, far outdoing

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