Pershing Square Holdings Ltd. said the hedge fund founded by billionaire investor Bill Ackman suffered a net loss of 7.3% in October. That compares with an 8.3% gain in the S&P 500 Index , which was the index's best monthly percentage performance in four years. Year to date, Ackman's Pershing Square Capital Management has lost 19%, while the S&P 500 has gained 2.2%. Among Pershing's largest holdings is Valeant Pharmaceuticals International Inc. , which has come under scrutiny following allegations it was using its relationship with specialty pharmacy Philidor to inflate revenue. Valeant's stock plunged 47% in October, and had lost 22% year to date through Oct. 30. The latest filings showed that Pershing held 19.47 million Valeant shares as of June 30. In late October, Pershing indicated that it increased its Valeant holdings by two million shares.
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