Bill Ackman's Pershing Square has seen assets drop $1.6 billion in 5 months [The Business Insider]
Automatic Data Processing, Inc. (ADP)
Last automatic data processing, inc. earnings: 4/29 06:56 am
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Source: The Business Insider
Bill Ackman's Pershing Square has seen assets drop $1.6 billion in 5 months Bill Ackman. REUTERS/Lucas Jackson Assets at Bill Ackman's Pershing Square have dropped by $1.6 billion in five months. The firm managed about $11 billion at the end of May, and about $9.4 billion at the end of October, according to the website for Pershing Square Holdings, a publicly traded Pershing vehicle. That latest figure includes $500 million Pershing Square recently raised to target Automatic Data Processing, the human resources firm. Pershing Square Holdings, which is considered a proxy for the flagship hedge fund, is down -3.3% for the year through October. The fund was up 4.3% this year through May, but lost -2.1% through October. That suggests that assets have dropped due, in part, to redemptions. Pershing Square investors can redeem one-eighth of their capital per quarter, meaning it takes two years to redeem in full. A significant portion of the firm's assets, about $4.3 billion out of $9
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ADP
Earnings
- 2/1/24 - Beat
ADP
Sec Filings
- 3/5/24 - Form 4
- 3/5/24 - Form 4
- 3/4/24 - Form 144
- ADP's page on the SEC website