Bill Ackman is getting annihilated

Hedge fund titan Bill Ackman's Pershing Square Holdings, the fund's publicly traded vehicle, has fallen 18.6% in 2016, according to a performance update.

That performance is through February 9.

Pershing Square had its worst year in its history last year, falling 20.5%.

Ackman, a well-known activist investor, makes large, concentrated bets in a handful companies.

More to follow...