Read the following paragraph and determine if the hypothesis is true:

BOSTON, Oct 2 (Reuters) - William Ackman’s Pershing Square Capital Management staunched two months of bloodletting in September, with his flagship fund eking out a tiny gain, leaving its main fund roughly flat for the year, according to a performance update. The activist investor told clients that the Pershing Square LP fund inched up 0.2 percent last month, marking an improvement from August’s 3.6 percent loss and July’s 2.2 percent decline, according to an update which was seen by Reuters.

Hypothesis: The company is still in the red