Activist investor Bill Ackman continued racking up gains in his hedge funds in July, while other hedgies and the broader markets turned red.
The $14.3 billion in Pershing Square funds gained 0.6 percent in last month, for a year to date gain of about 26 percent, according to an investor who has viewed the monthly report.
Ackman’s Herbalife short saved the day, as the stock fell 19 percent during the month after the company missed second quarter earnings and lowered its growth estimates for the year. Herbalife is off 34 percent in 2014.
Dan Loeb’s $14.7 billion Third Point fell 1.2 percent for July, giving him a 4.7 percent annual gain. That’s slightly better than the S&P 500’s 4.4 percent yearly gain.
This year is turning out to be one of Loeb’s worst in recent times, and it comes while he is trying to raise capital again after returning money to investors at the year of 2013.
David Einhorn’s $10 billion Greenlight Capital was the laggard of the three in July, down 2.6 percent in July. But he’s still up 5.7 percent for the year.