(FINalternatives) Bill Ackman’s Pershing Square Holdings, the public version of his Pershing Square LP hedge fund, posted a net return of 2.7% in July, trimming its year-to-date net loss to -19%, according to a performance update released by the firm.
The fund’s portfolio continues to consist of 11 long positions and one short position, Ackman’s long-suffering bet against Herbalife. In July, the company agreed to pay $200 million to settle an action brought by the U.S. Federal Trade Commission regarding its sales and compensation practices. Herbalife’s stock, frequently alleged by Ackman to be a pyramid scheme, rose on the news.
