Bill Ackman's Pershing Square Down 19% YTD (VRX)
Bill Ackman's Pershing Square Holdings, Ltd. released its regular monthly Net Asset Value (NAV) and Performance Report for the month of October 2015. Data showed the fund was down 7.3% during the month and is now down 19% on the year.
Much of the weakness is tied to the hedge fund's oversized bet-gone-wrong in Valeant Pharma (NYSE: VRX). Pershing Square owns approximately 21.5 million shares at an average price of $186, or about 46% above the current market price. Shares have plunged recently on short seller allegations of fraud.