New York fund makes remarkable comeback with $3.5 billion gains in 2023

  • Pershing Square re-enters ranks of world’s top performing hedge funds
  • Generated net gains worth $3.5 billion in 2023
  • Overall gains since inception reach $18.8 billion
  • Supplanted Moore Capital Management to take bottom place on the list
  • Generated returns worth $12.3 billion over the past three years
  • Top 20 funds manage 18.9% of all assets in the sector
  • Top 20 funds generated 83% of all gains in the past three years
  • TCI Fund achieved greatest gains in 2023, bringing overall net gains to $41.3 billion
  • Citadel LLC has generated highest gains since inception, reaching $74 billion
  • Top three hedge funds generated almost two fifths of all gains in the sector

Bill Ackman’s Pershing Square Capital Management has made a remarkable comeback, re-entering the ranks of the world’s top performing hedge funds. The New York fund generated net gains worth $3.5 billion in 2023, bringing its overall gains since inception to $18.8 billion. This puts Pershing Square back on the list of top performing funds that together generated outsized net gains worth $67 billion in 2023 alone. The top 20 funds manage 18.9% of all assets in the sector and have generated 83% of all gains in the past three years. TCI Fund achieved the greatest gains in 2023, bringing its overall net gains to $41.3 billion. Citadel LLC has generated the highest gains since inception, reaching $74 billion. The top three hedge funds have generated almost two fifths of all gains in the sector.

Public Companies: Pershing Square Capital Management (), Procter & Gamble (PG), JCPenney (), Herbalife Nutrition (HLF), Citadel (), D.E. Shaw (), Millennium (), Bridgewater (), Elliott (), Soros (), TCI (), Viking (), Baupost (), Farallon (), Lone Pine (), Appaloosa (), SAC/Point 72 (), Och Ziff/Sculptor (), Brevan Howard (), Egerton (), Davidson Kempner (), King Street (), Caxton ()
Private Companies:
Key People: Bill Ackman (Founder and CEO of Pershing Square Capital Management), Louis Bacon (Founder of Moore Capital Management), Sir Chris Hohn (Founder of The Children’s Investment Fund Management (TCI Fund)), Ken Griffin (Founder of Citadel LLC), Edmond de Rothschild (CEO of Edmond de Rothschild), Rick Sopher (CEO of Edmond de Rothschild), Ray Dalio (Founder of Bridgewater Associates)

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Factuality Level: 7
Justification: The article provides information about the performance of Bill Ackman’s Pershing Square Capital Management and its re-entry into the ranks of the world’s top performing hedge funds. The information is sourced from research by LCH Investments. The article also includes data on the performance of other hedge funds and their overall gains. The information provided seems to be based on factual data and research, but it is important to note that the article does not provide any analysis or commentary on the performance of the hedge funds.

Noise Level: 3
Justification: The article provides a straightforward report on the performance of hedge funds, specifically focusing on Bill Ackman’s Pershing Square Capital Management. It includes relevant information such as the fund’s gains, its ranking among other hedge funds, and comparisons to other top-performing funds. However, there is some repetitive information and unnecessary details about the history and rankings of other funds that are not directly related to the main topic.

Financial Relevance: Yes
Financial Markets Impacted: The article provides information about the performance of hedge funds, including Pershing Square Capital Management and other top-ranking funds.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article focuses on the financial performance of hedge funds and does not mention any extreme events.

Reported publicly: www.marketwatch.com