The LSE Directory / Hedge fund managers
William Albert Ackman (born 1966) is the founder and CEO of Pershing Square Capital Management, a concentrated activist hedge fund he launched in 2003. Ackman takes large, publicly disclosed positions in companies he believes are undervalued or mismanaged and then campaigns loudly for operational or strategic change, making him one of the most high-profile and controversial activists on Wall Street. Notable wins include Canadian Pacific Railway (turned over management, drove major operational improvement and stock appreciation), Chipotle Mexican Grill, and Lowe's. Notorious losses include a years-long public short campaign against Herbalife (Ackman alleged it was a pyramid scheme; he ultimately lost approximately $1 billion when the position was closed) and a catastrophic long position in Valeant Pharmaceuticals (~$4 billion loss). In February/March 2020, Ackman executed one of the most famous hedges in history: spending approximately $27 million on credit default swaps as the COVID-19 pandemic began, and monetising the position in roughly three weeks for approximately $2.6 billion, a roughly 100× return. He is very active on social media and has become a well-known public commentator.
