Ackman says portfolio is up as much as 27%, sold Berkshire recently
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BOSTON, May 27 (Reuters) - Billionaire investor William Ackman told investors on Wednesday that his funds have gained as much as 27% this year and that the stocks he already owns are still cheap after the coronavirus sparked a historic market sell off in March.
Ackman, who began worrying about the health and market impact of the pandemic months ago, hedged his portfolio and began buying up bigger stakes in portfolio companies that had been beaten down. He also said that he exited positions in Berkshire Hathaway, Blackstone Group and Park Hotels & Resorts in the last weeks.
(Reporting by Svea Herbst-Bayliss Editing by Chizu Nomiyama)
