Bill Ackman is still on top this year.
Reuters reports that his hedge fund Pershing Square returned 1.4% in September, bringing its year to date return up to 31.5%.
Ackman's most active positions include a big short of Herbalife, which fluctuates between losing him money and going flat; a stake in pharmaceutical company Allergan; and huge stakes in Fannie Mae and Freddie Mac — Pershing is the largest shareholder in both stocks.
Fannie and Freddie took a bath this week when a lawsuit to allow shareholders to share in the companies' profits ruled out of his favor — both stocks declined up to 40%.
As for Allergan, we'll just have to wait to see how things shake out. Ackman has teamed up with another pharmaceutical company, Valeant, to take over the company. So far Allergan isn't biting.
But the game isn't over yet.