Ackman’s Pershing Square Breaks Own Record With 70% Return

Bill Ackman’s Pershing Square Capital Management reported a second straight record performance in 2020, as a bet in the early days of the pandemic helped the fund return 70% on investments.

The billionaire investor said Pershing Square had a net return of 4.6% in December alone. The annual results eclipsed the 16% gain in the S&P 500, and surpassed Ackman’s 2019 record of about 58%.