Bill Ackman among highest-paid hedge fund bosses, made $610M from these 10 stocks last year: report
NY Post
Outspoken billionaire Bill Ackman reportedly raked in $610 million in 2023 to land in the top 10 on Bloomberg’s annual list of best-paid hedge fund founders, the outlet reported Tuesday.
The Pershing Square Capital Management CEO — who spearheading a social media campaign to get Harvard University president Claudine Gay ousted over her muted response to antisemitism on the Ivy League school’s campus and over her subsequent plagiarism charges — managed to finish seventh on Bloomberg’s list last year after failing to crack the top 15 the year before.
Ackman, who gained prominence as an activist investor, shifted to a “quieter approach” two years ago and barely touched his portfolio of just 10 stocks to record his massive haul, as calculated by Bloomberg after analyzing top hedge funds’ performance as well as Securities and Exchange Commission filings.
With the stock market roaring last year, Pershing’s eight-person advisory investment team helped the firm earn 26.7% gain across its positions, which include Google parent Alphabet, Chipotle and Hilton Worldwide, Bloomberg reported.
Ackman’s returns topped those of Citadel’s main Wellington strategy and Millennium Management, which saw their portfolios advance 15.3% and nearly 10%, respectively, despite their founders bringing in a larger windfall than Ackman.
Pershing also holds positions in Toronto-based Burger King-owner Restaurant Brands International, Universal Music Group, real-estate development company Howard Hughes Holdings and railway firm Canadian Pacific.
