Ackman's fund made two new bets but doesn't identify them

NEW YORK – Billionaire investor William Ackman's hedge fund made two new investments in the last months but has declined to identify them.

Pershing Square Capital Management, which oversees $10.9 billion in assets, committed 4 percent of its capital to "new undisclosed position #1" late last year and has already made money in it, the company told investors in an update on Thursday.

In early 2017, the hedge fund added another position, committing 9 percent of its capital to "new undisclosed position #2."

(Reporting by Svea Herbst-Bayliss; Editing by Jonathan Oatis)