BOSTON (Reuters) - Billionaire investor William Ackman had some good news to share with investors on Monday, saying that his Pershing Square Holdings portfolio gained 10.2 percent last month as battered drug company Valeant Pharmaceuticals climbed.

The fund is still recovering from an 18-percent loss for the year-to-date but the decline is smaller now compared with the end of March when the fund was off 25.6 percent, according to a portfolio update seen by Reuters.

(Reporting by Svea Herbst-Bayliss)