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ackman's universal music investment struggles amid hedge fund underperformance
Bill Ackman's hedge fund, Pershing Square, is struggling due to a significant investment in Universal Music Group, which has declined approximately 14% this year. Despite a strong overall market, the fund's performance is hindered, marking its second-worst year since 2018. Ackman proposed moving Universal's listing to the U.S. to boost its stock price, but the company denied his claims of having the right to enforce such a change.
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