NEW YORK (Reuters) -Billionaire investor William Ackman's hedge fund Pershing Square Capital Management returned 26.7% last year, beating the broader stock market gains and bouncing back from a loss in the previous year, according to an investor update on Tuesday. For Ackman's investors, last year's increase returns the hedge fund to form with double digit gains after an interruption in 2022 when fears about interest hikes, runaway inflation and geopolitical flashpoints sent stocks tumbling. The firm did not say what fueled last year's rise though long-time portfolio company Chipotle Mexican Grill climbed more than 63% while Google parent Alphabet, a position Ackman added to the portfolio last year, rose 55%.