Outspoken billionaire Bill Ackman will raise $610 million in 2023, putting him in the top 10 of Bloomberg’s annual list of highest-paid hedge fund founders, the paper reported Tuesday. Ta.
Pershing Square Capital Management CEO fires Harvard University president Claudine Gay over her silent response to anti-Semitism on the Ivy League campus and subsequent plagiarism charges He spearheaded a social media campaign to make the world a better place, but he managed to finish seventh on Bloomberg’s list last year. Last year, he failed to break into the top 15.
Mr. Ackman, who made a name for himself as an activist investor, switched to a “quieter approach” two years ago, posting huge profits with little interaction with a portfolio of just 10 stocks. Calculated by Bloomberg After analyzing the performance of top hedge funds and their filings with the Securities and Exchange Commission.
As the stock market soared last year, his eight-person investment advisory team helped the company generate a 26.7% return across its positions, including Google’s parent company Alphabet, Chipotle and Hilton Worldwide. Bloomberg reported that.
Mr. Ackman’s returns exceeded those of Citadel’s flagship Wellington Strategy and Millennium Management, whose portfolios rose 15.3% and nearly 10%, respectively, even though the founders delivered larger returns than Mr. Ackman.
Millennium founder Israel “Izzy” Englander, the highest paid hedge fund president on Bloomberg’s list of salaries, will earn $2.8 billion in 2023, while Citadel’s Ken Griffin will earn $2.6 billion. It won the second place.
Appaloosa’s David Tepper was third with $2.3 billion, and Mets owner Steve Cohen was fourth, with his Point72 Asset Management earning $1.6 billion.
The 15 managers on Bloomberg’s list also include Renaissance Technologies’ Jim Simmons, Two Sigma’s David Siegel, and AQR Capital Management’s Cliff Asness, with a combined total of $15 billion. earned.
Roughly a third of Mr. Ackman’s 2023 profits came from the rise in the stock price of his publicly traded Pershing Square Holdings fund, according to Bloomberg.
The remaining two-thirds of the 57-year-old’s income came from boosting the performance of his personal funds and fees charged to clients.
In one of his biggest moves in recent years, Ackman told investors earlier this month he was unloading his six-year bet on Lowe’s after the company delivered more than $1 billion in profits to Pershing Square investors. As stated in the latest information for
Mr. Pershing Square also holds positions at Toronto-based Burger King owner Restaurant Brands International, Universal Music Group, real estate developer Howard Hughes Holdings and railroad company Canadian Pacific.
A representative for Mr. Ackman at Pershing Square declined to comment.
Fellow hedge fund boss Chris Horn of TCI Fund Management also scored big on his portfolio of 10 U.S. stocks.
Unlike Ackman, Mr. Horn, who remains out of the spotlight, has earned nearly $1 billion, according to Bloomberg calculations.
Only two of his positions, General Electric Co. and Canadian National Railway Co., account for more than a quarter of his holdings, which rose 33% last year, Bloomberg reported.
