Blue Harbour

The Pershing Square founder tells investors in his publicly traded vehicle that the Valeant holding accounted for most of its losses last year.
Investors pulled more money out of the funds last month, but year-on-year redemption figures fell substantially.
The firm, which typically doesn’t engage in contentious campaigns, is one of the best-performing activists this year.
While the Pershing Squares of the world suffer, scrappier funds like Tosca Opportunity, Barington and Blue Harbour are finding ways to post gains.