Premise: BOSTON, Oct 2 (Reuters) - William Ackman’s Pershing Square Capital Management staunched two months of bloodletting in September, with his flagship fund eking out a tiny gain, leaving its main fund roughly flat for the year, according to a performance update. The activist investor told clients that the Pershing Square LP fund inched up 0.2 percent last month, marking an improvement from August’s 3.6 percent loss and July’s 2.2 percent decline, according to an update which was seen by Reuters.
Hypothesis: Ackman’s Pershing Square Capital Management, which makes concentrated bets on a small number of stocks, told clients on Wednesday that its Pershing Square LP fund fell 7.7 percent last month