New York (HedgeCo.net) – After enduring one of his worst years as a hedge fund manager in 2015, Bill Ackman isn’t seeing much of a change to start 2016. Ackman’s Pershing Square Holdings Ltd. Lost 20.5% in 2015 as one of its biggest holdings, Valeant Pharmaceuticals (NYSE: VRX) has lost over 60% of its value since August of last year.

The company reported that the fund is down 11.4% so far in 2016 as of Tuesday, extending the losses that started in second half of last year. Pershing Square did report recently that they have cut their stake in Valeant, but they still have a very large position.

Valeant is down 15.85% so far this year and two other holdings are down over 15%. Howard Hughes Corporation (NYSE: HHC) is already down almost 20% this year and Canadian Pacific (NYSE: CP) is down 17.85%.

Rick Pendergraft
Research Analyst
HedgeCoVest