Chipotle slices Ackman’s loss

Bill Ackman’s hedge fund cut its yearto-date losses in half after shares of Chipotle Mexican Grill spiked this week.

The portfolio of stocks owned by Ackman’s fund — which in addition to Chipotle include ADP and Burger King owner Restaurant Brands — were down 4.3 percent this year as of Friday’s close.

That’s less than half the size of the 8.8 percent drop as of Wednesday’s close, according to a post on the hedge fund’s Web site.

Ackman’s (right) struggling fund narrowed the deficit as Chipotle shares spiked more than 24 percent on Thursday after the burrito chain posted stronger-than-expected quarterly results. Investors were likewise impressed by new CEO Brian Niccol, who hinted at changes, including longer hours and drive-thrus.

Pershing Square Holdings, the publicly traded vehicle that closely tracks Ackman’s fund, raised eyebrows as it made the unusual move of disclosing the big improvement only a day after its reg- ular weekly performance update.

Some speculated thathat Ackman — whose fund has faced losses and re-demptions following a disastrous investment in scandal-plagued pharm a giant Valeant and an ill-fated short bet against Herbalife — couldn’t resist getting out the spot of rare good news fast.

A Pershing Square filing earlier this week, however, said that the fund would begin posting daily updates on Wednesday ahead of a May 10 tender offer.