Pershing square stock

Pershing square stock DEFAULT

Ackman's Pershing Square fund surges as Universal soars in stock debut

BOSTON, Sept 22 (Reuters) - Hedge fund manager William Ackman's 10% bet on Universal Music Group helped nearly double returns at his own portfolio to 15.3% this week after shares in the world's biggest music label surged in their first hours as a publicly traded company.

Ackman, who runs hedge fund firm Pershing Square Capital Management, told investors that his Pershing Square Holdings portfolio returned 15.3% after fees since January. The fund was up 7.7% a week ago.

The gains were largely fueled by his investment in Universal Music Group (UMG), the label that is home to Taylor Swift, Bob Dylan and the Beatles. Ackman pivoted a few weeks ago, buying the sizable stake in the record label through his portfolios after his initial plan to invest through a blank-check company deal crumbled in July amid scrutiny from U.S. regulators.

The billionaire investor told his investors that humans need food, water and music, and that music, which he called the cheapest form of entertainment in the world, is a very savvy investment because it pays royalties.

He raised $1.1 billion in fresh capital for the UMG stake through a co-investment vehicle, a structure he has previously used for investments in Automatic Data Processing (ADP.O) and Air Products & Chemicals (APD.N). In total, Ackman's funds invested $4 billion in UMG.

Ackman posted a 70.2% return in 2020 following a 58.1% return in 2019. This year the HFRX Global Hedge Fund Index, which measures returns for the industry, is up 3.58%.

In the first eight months of the year Ackman's best performing stocks included Chipotle Mexican Grill (CMG.N), Agilent Technologies (A.N), and Domino's Pizza (DPZ.N). He sold Agilent to help fund his commitment to UMG.

In its first day of trading in Amsterdam on Tuesday, UMG's shares leapt by more than a third, pushing its market value to $55 billion in Europe's largest listing of the year.

Reporting by Svea Herbst-Bayliss, Editing by Franklin Paul and Sonya Hepinstall

Our Standards: The Thomson Reuters Trust Principles.

Sours: https://www.reuters.com/business/ackmans-pershing-square-fund-surges-universal-soars-stock-debut-2021-09-22/

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Pershing Square Holdings, Ltd.

Welcome to Pershing Square Holdings, Ltd.

(the “Company”)

Please read the disclaimer below carefully. You must accept its terms before you can proceed.

Users of this website are responsible for observing all applicable laws and regulations in their relevant jurisdictions before proceeding to access the information contained herein. By proceeding to access the information, users are deemed to have represented and warranted that the applicable laws and regulations of their relevant jurisdiction allow them to do so. No information contained on this website constitutes or would be deemed to constitute an invitation in any jurisdiction to invest or otherwise deal in the shares of the Company.

None of the information contained in this website constitutes an offer to sell, or a solicitation of an offer to buy or subscribe for, any shares or other securities to the public.

None of the information contained in this website constitutes an offer to sell, or a solicitation of an offer to buy or subscribe for, any shares or other securities in the United States or in any other jurisdiction, nor shall it, or the fact of its distribution, form the basis of, or be relied upon, in connection with or act as an inducement to enter into any contract or commitment therefor.

Shares may not be purchased by an “employee benefit plan” within the meaning of the U.S. Employee Retirement Income Security Act of 1974, as amended (“ERISA”), including (i) an investor using assets of: (A) an “employee benefit plan” as defined in Section 3(3) of ERISA that is subject to Title I of ERISA; (B) a “plan” as defined in Section 4975 of the U.S. Internal Revenue Code, as amended (the “IRC”), including an individual retirement account or other arrangement that is subject to Section 4975 of the IRC; or (C) an entity which is deemed to hold the assets of any of the foregoing types of plans, accounts or arrangements that is subject to Title I of ERISA or Section 4975 of the IRC.

The Company has not been and will not be registered under the U.S. Investment Company Act of 1940, as amended (the “Investment Company Act”), and investors will not be entitled to the benefits of that Act.

In addition, the shares in the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”). Consequently, shares in the Company may not be offered, sold or otherwise transferred within the United States or to, or for the account or benefit of, “U.S. persons” as defined in Regulation S under the Securities Act absent registration or an exemption from registration under the Securities Act. No public offering of any shares in the Company is being, or has been, made in the United States.

The Company is a registered closed-ended investment scheme registered pursuant to the Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended and the Registered Collective Investment Scheme Rules 2008 issued by the Guernsey Financial Services Commission (the “Commission”). The Commission has not reviewed this disclaimer and takes no responsibility for the financial soundness of the Company or for the correctness of any of the statements made or opinions expressed with regard to it.

All investment is subject to risk. The value of the shares in the Company may go down as well as up. Past performance is no guarantee of future returns and there is no guarantee that the market price of the Company’s shares will fully reflect their underlying net asset value. There is also no guarantee that the Company’s investment objective will be achieved. Potential investors are advised to seek expert financial advice before making any investment decision and should be aware that they may not fully recover the amount invested.

A prospectus has been prepared in connection with the admission of the shares in the Company to listing and trading on Euronext in Amsterdam, the regulated market operated by Euronext Amsterdam N.V., and was approved by the Netherlands Authority for the Financial Markets (the “AFM”) on 2 October 2014 (the “Prospectus”). A Dutch supplement to the Prospectus has been prepared which contains specific information for retail investors in the Company in the Netherlands (the “Supplement”). The Prospectus and the Supplement are available on this website.

Neither the Company nor Pershing Square Capital Management, L.P. (“PSCM”), the investment manager of the Company, assumes any obligation to update the information contained in the Prospectus or the Supplement thereto, unless a new offering in the Company will be undertaken.

Terms of Use of this Website

The information on this website is for information purposes only. Unless specifically stated otherwise, it does not constitute an offer to purchase or sell any security or investment product, nor does it constitute professional advice. Any product and service mentioned in this website are not offered to any person or entity in any jurisdiction or country where the advertisement, offer, solicitation, provision or sale of such product and service is restricted or prohibited by law or regulation or where PSCM or the Company or any of their respective affiliates would be subject to any regulation or licensing requirement.

If you proceed to access the information included in this website, you acknowledge that you have read and agree with the above statement.

Forward-Looking Statements

Nothing in this website is, or should be relied on as, a promise or representation as to the future. This website contains forward-looking statements, which reflect the views of the Company and PSCM with respect to, among other things, the Company’s operations. Investors can identify these forward-looking statements by the use of words such as “believe”, “expect”, “potential”, “continue”, “may”, “will”, “should”, “seek”, “approximately”, “predict”, “intend”, “plan”, “estimate”, “anticipate” or other comparable words. These forward-looking statements are subject to various risks, uncertainties and assumptions. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Should any assumptions underlying the forward-looking statements contained on this website prove to be incorrect, the actual outcome or results may differ materially from outcomes or results projected in these statements. None of the Company, PSCM or any of their respective affiliates undertakes any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable law or regulation.

Copyright

Copyright of all images and text in this website is owned by or licensed to PSCM, the Company or one of their respective affiliates unless otherwise noted. You may imprint, copy download or temporarily store extracts from this website for your personal information and use. You may not alter or otherwise make any changes to any material that you print or download from this website, including, without limitation, removing any identifying marks or legends from such material. You may not distribute these materials to others. Any other use is prohibited unless you first request and obtain our written permission. In particular no one may copy or use a part of the website on any other website, or link any other website to this website, without the prior written permission of PSCM and the Company. You may not use the website for any purpose which is unlawful, abusive, libelous, obscene or threatening.

All trademarks, service marks and logos used on this website are trademarks or service marks or registered trademarks or service marks of either the Company, PSCM, their respective affiliates or their associates and service providers and should not be copied, altered or abused in any way.

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Although each of the Company and PSCM has taken all reasonable care to ensure that the information contained within this website is accurate no representation or warranty (including liability towards third parties), expressed or implied, is made as to its accuracy, reliability or completeness by the Company, PSCM, their respective affiliates and third parties that have provided information contained in this website. Opinions and any other contents expressed on this website are provided for your personal use and informational purposes only and are subject to change without notice. Nothing contained on this website constitutes investment, legal, tax or other advice and is not to be relied on in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision.

No Warranty

The information and opinions contained in this website are provided without any warranty of any kind, either expressed or implied, to the fullest extent permissible pursuant to applicable law. None of the Company, PSCM or any of their respective affiliates further assumes any responsibility for, and makes any warranties that, information and supplies contained on this website will be uninterrupted or error-free, that defects will be corrected, or that this website or the servers that make it available will be free of viruses or other harmful components.

Liability Waiver

You agree that under no circumstances, including, but not limited to, negligence, shall the Company or PSCM or any third party that has provided information contained in this website or any of their respective affiliates be liable for any direct, special or consequential damages that result from the access or use of, or the inability to access or use, the materials on this website. This does not exclude or restrict any duty or liability the Company or PSCM has to its customers under the regulatory system in the Netherlands or Guernsey.

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Neither the Company nor PSCM has reviewed any website linked to this website and neither the Company nor PSCM is responsible for the contents of off-site pages or any other websites linked or linking to this website. If you follow any links off this website you do so at your own risk.

Links to this website may not be established without the prior written consent of the Company and PSCM.

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This is the Privacy Statement of the Pershing Square Holdings, Ltd. website and is intended to set out an explanation of what we do with any personal information provided to us by users of this website. The Privacy Statement is a statement of policy and, save for those rights and obligations set out in the Data Protection (Bailiwick of Guernsey) Law, 2001, it does not establish or create any additional user rights or any further obligations.

Personal Information

No personal information is requested, collected, required or monitored in respect of access to the site’s home page or other pages giving general information about the Company or PSCM.

Only limited personal information is required, collected and monitored and then only in respect of the Company. Such personal information will be held and processed by the Company in accordance with the Data Protection (Bailiwick of Guernsey) Law, 2001.

The information requested for registration at pershingsquareholdings.com will only be used for internal purposes.

The procedures covering the security and confidentiality, storage and disclosure of personal information provided to the Company by users of this site comply with the Data Protection (Bailiwick of Guernsey) Law, 2001.

The use of the internet to transfer information is not secure. While we do our best to maintain security within our website and to safeguard your personal information, we cannot ensure or warrant the security of any information which you may transmit to us.

Exclusions of Legal Liability

Although each of the Company and PSCM tries to make this site as accurate as possible and to use information obtained from other sources that the Company and PSCM believe to be reliable, each of the Company and PSCM does not guarantee, nor take any responsibility for, its accuracy.

The fact that information, products or services are shown on this website does not necessarily mean that you should rely on the information or that the information continues to be valid. All documents have their own shelf life and may be included on this website for historical reference purposes only.

Sours: https://pershingsquareholdings.com/

Pershing Square Capital Management

American hedge fund

Pershing Square Capital Management is an American hedge fund management company founded and run by Bill Ackman, located at 787 11th Avenue in New York.[3][4][5][6]

Company history[edit]

In 2004, with $54 million in funding from his personal funds and former business partner Leucadia National, Ackman started Pershing Square Capital Management.[7]

Ackman has been known to hire people outside of traditional finance backgrounds; for instance, his professionals have included a former fly fishing guide, a former tennis pro, and "a man whom he met in a cab."[8]

In October 2014, Ackman launched a UK-based closed-end fund, Pershing Square Holdings, on the London Stock Exchange.[9]

Investment history[edit]

Pershing has launched activist campaigns against McDonald's, Wendy's, and Herbalife.[5][6]

In 2005, Pershing bought a significant share in fast food chain Wendy's International and successfully pressured them to sell off its Tim Horton's donut chain. Wendy's spun off the Canadian restaurant donut chain through an IPO in 2006 and raised $670 million for Wendy's investors. After Ackman sold his shares at a substantial profit after a dispute over executive succession, the stock price collapsed, raising criticism the sale of Wendy's fastest growing unit left the company in a weaker market position.[7] Ackman blamed the poor performance on their new CEO.[7]

In December 2007, his funds owned a 10% stake in Target Corporation, valued at $4.2 billion[10] through the purchase of stock and derivatives.[11] His funds now own a 7.8% stake.[12] In December 2010, his funds held a 38% stake in Borders Group and on December 6, 2010, Ackman indicated he would finance a buyout of Barnes & Noble for US$900M.[13]

On January 9, 2009, the fund disclosed a 7.4% ownership stake in General Growth Properties (GGP) according to documents filed with the SEC,[14] becoming the second-largest shareholder behind Brookfield Asset Management. The fund was betting on the company going bankrupt in such a way as to leave its shareholders intact.[15] In November 2010, Pershing Square helped the company emerge from Chapter 11 bankruptcy protection.[16] As of August 2012 the fund holds beneficial ownership of 7.7 percent of General Growth's stock.[17]

In 2010, Pershing Square reported having taken large ownership stakes in JC Penney and Canadian Pacific Railway.[18]

In July 2012, Ackman acknowledged to CNBC he had acquired shares in Procter & Gamble worth approximately $1.8 billion, a 1% stake in the company, with the idea of taking an activist role within the corporation. Pershing Square later reduced its stake in Procter & Gamble, which was valued at around $60 million by the end of 2013.[19]

In the first quarter of 2016, the hedge fund experienced its "biggest-ever quarterly loss" of 25%, due in part to its 9% stake in Valeant Pharmaceuticals International. Ackman, who joined Valeant's board in March 2016, commented on the company's 88% loss since August 2015 stating, “This is going to be a badly scraped knee that may even require stitches but it is not life threatening... We should be able to recover the lion's share of our investment—if not all of it—over time".[20][21][22] After the controversial drug prices and operations of Valeant became public, Ackman and Valeant's board fired former CEO Mike Pearson, and Pershing Square sold all of its stake in Valeant with a total loss of $4bn.[23]

In September 2016, Pershing Square continued its investment in fast food by buying a 9.9% stake in Chipotle Mexican Grill.[24] As of March 2018, Pershing Square held a 10.3% stake in Chipotle.[25] In 2018, Ackman dumped $500 million into the publicly traded arm of Pershing Square Capital Management stating it was significantly undervalued at roughly $15 a share. As of September 2019, the fund returned 54.5% with a share price of $19.10, the highest since January 2016.[26][27]

In March 2020, Pershing Square made $2.6bn (£2.2bn) betting that there would be a market crash.[28]

In November 2020, Pershing Square took a position against corporate credit.[29][30]

Herbalife[edit]

See also: Bill Ackman Herbalife short

In December 2012, Ackman announced the firm had made a $1 billion short bet against Herbalife, a maker of weight-loss and vitamin supplements, calling the company a "pyramid scheme".[31] After activist billionaire investor Carl Icahn bought a stake in the company in January 2013, the share price rose nearly 13% and the investment was seen by analysts as the worst investment ever made by the firm.[32] After a persistent political and grassroots campaign funded by Ackman and the firm,[33][34] the Federal Trade Commission initiated a civil investigation into Herbalife, causing its stock to drop enough that by March 2014, Pershing Square was nearly even on their bet.[32] In April 2014, Reuters reported that, according to its sources, the FBI conducted a probe into Herbalife and reviewed documents obtained from the company's former distributors.[35]

In March 2015, U.S. District Judge Dale Fischer dismissed a suit filed by Herbalife investors alleging the company is operating an illegal pyramid scheme.[36] On March 12, 2015, it reported that Ackman was under investigation by federal prosecutors and the FBI; Ackman was quoted that he would not back down from his claims against Herbalife.[38]

Platform Specialty Products Corporation[edit]

As of June 2014, Pershing Square is the largest institutional holder of the shares of Platform Specialty Products Corporation (NYSE: PAH), owning a 24.28% stake.[39] Pershing first disclosed the position in January 2014,[40] shortly after Platform debuted on the New York Stock Exchange.[41][42][43] Subsequently, in April 2014, Platform announced a deal to acquire the agrochemicals business of Chemtura for approximately $1 billion.[44] Agriphar, another agricultural specialty chemicals company, agreed in August 2014 to become the third company to join the Platform umbrella.[45]

In April 2014, Ackman singled out Platform Specialty Products in "The Outsider" presentation,[46] which discusses optimal methods of capital allocation.[47][48][49]

Pershing Square Tontine Holdings (PSTH)[edit]

Pershing Square Tontine Holdings is a blank check company formed by Bill Ackman that went public in July 22, 2020 at a value of $4 billion and trade under the ticker symbol PSTH.U before the split of its warrants and shares.[50] PSTH is currently the largest SPAC to IPO to date.[51]

PSTH has a unique "Tontine" structure where shareholders are incentivized to hold shares through merger once a target is found for acquisition.[51] The IPO included 200 million units, which included a total of 200 million shares and 22,222,222 warrants. Another 44,444,444 warrants, or two ninths per share, will be distributed to shareholders who choose to participate in the proposed merger. The strike price of PSTH warrants are $23.[52]

In popular culture[edit]

Pershing Square's investment ventures are prominently featured in two financial documentaries.

Further reading[edit]

  • Cheffins, Brian R. (2014). "Hedge Fund Activism Canadian Style". University of British Columbia Law Review. 47 (1): 1-59) (Discussing Pershing Square's activities in Canada, and a unique cultural reluctance to support active value creation by ethical intervening shareholders). SSRN 2204294.
  • Rojas, Claudio R. (2014). "An Indeterminate Theory of Canadian Corporate Law". University of British Columbia Law Review. 47 (1): 59-128 ("The author's perspective on Berkshire Hathaway's investment philosophy was informed by discussions with Warren Buffett in Omaha, Nebraska": pp. 59, 122-124). SSRN 2391775.

External links[edit]

References[edit]

  1. ^"About Pershing Square Capital Management, L.P." Pershing Square Capital Management, L.P. Archived from the original on 2019-12-20. Retrieved 2018-04-08.
  2. ^"PSH"(PDF). Pershing Square Holdings. Archived(PDF) from the original on November 6, 2020. Retrieved December 22, 2020.
  3. ^Markus Krebsz (15 June 2011). Securitisation and Structured Finance Post Credit Crunch: A Best Practice Deal Lifecycle Guide. John Wiley and Sons. pp. 83–. ISBN . Retrieved 2 August 2011.
  4. ^Joseph A. McCahery; Erik P. M. Vermeulen (19 November 2010). Corporate Governance of Non-Listed Companies. Oxford University Press US. pp. 178–. ISBN . Retrieved 2 August 2011.
  5. ^ abPhilip Coggan (9 November 2010). Guide to Hedge Funds: What They Are, What They Do, Their Risks, Their Advantages. John Wiley and Sons. pp. 49–. ISBN . Retrieved 2 August 2011.
  6. ^ abDavid Stowell (16 February 2010). An Introduction to Investment Banks, Hedge Funds, and Private Equity: The New Paradigm. Academic Press. pp. 49–. ISBN . Retrieved 2 August 2011.
  7. ^ abcSerres, Chris (13 January 2008). "William Ackman: Targeting Target". Star Tribune. Minnesota. Archived from the original on 29 May 2012. Retrieved 16 May 2009.
  8. ^"From Hedge Funds to Bonefishing," ForbesArchived 2020-11-06 at the Wayback Machine, July 16, 2012
  9. ^"Bill Ackman's Pershing Square fizzles on IPO". FT. 13 October 2014. Archived from the original on 6 November 2020. Retrieved 2 June 2017.
  10. ^"Ackman Boosts Target State". Bloomberg. 24 December 2007. Archived from the original on 6 January 2008. Retrieved 27 February 2013.
  11. ^Andrew Bary (26 May 2009). "Ackman's Target Campaign Is Off-Target". barrons.com. Archived from the original on 12 December 2013. Retrieved 27 February 2013.
  12. ^"Ackman loses in Target proxy contest". Reuters. 28 May 2009. Archived from the original on 24 September 2015. Retrieved 1 July 2017.
  13. ^de la Merced, Michael (6 December 2010). "Ackman Offers to Finance a Borders Bid for Barnes & Noble". The New York Times (DealBook). Archived from the original on 9 March 2013. Retrieved 27 February 2013.
  14. ^"Pershing Square (Bill Ackman) Files 13D on General Growth Properties (GGP)". Market Folly. Archived from the original on 2013-03-05. Retrieved 2013-03-03.
  15. ^TraderMark (14 January 2009). "The Logic Behind Bill Ackman's Purchase of General Growth Properties". Seeking Alpha. Archived from the original on 6 March 2013. Retrieved 3 March 2013.
  16. ^"General Growth cleared to exit bankruptcy". Reuters. 22 October 2010. Archived from the original on 24 September 2015. Retrieved 1 July 2017.
  17. ^"Pershing Square Urges Shareholders To Consider Sale Of General Growth Properties". Seeking Alpha. Archived from the original on 2013-03-06. Retrieved 2013-03-03.
  18. ^"Bill Ackman's Activist Positions in J.C. Penney and Canadian Pacific Railway". Forbes. 15 June 2012. Archived from the original on 6 November 2020. Retrieved 8 September 2017.
  19. ^Benoit, David (14 February 2014). "Pershing Square Slashes Procter & Gamble Stake" (MoneyBeat). Wall Street Journal. Archived from the original on 6 November 2020. Retrieved 24 March 2014.
  20. ^"Bill Ackman Is About to Get Seriously Grilled by Unhappy Investors". Fortune. 6 April 2016. Archived from the original on 6 November 2020. Retrieved 16 April 2016.
  21. ^Whitehouse, Kaja (6 March 2016). "Bill Ackman says he can recoup Valeant losses". USA Today. Archived from the original on 10 April 2016. Retrieved 16 April 2016.
  22. ^Gara, Antoine (21 March 2016). "As Bill Ackman Enters Valeant's Boardroom, The Stakes Rise Above The Billions He May Lose". Forbes. Archived from the original on 6 November 2020. Retrieved 16 April 2016.
  23. ^Franck, Thomas (2018-04-05). "Bill Ackman's hedge fund empire crumbles in less than 3 years from public wrong-way bets on Herbalife, Chipotle". CNBC. Archived from the original on 2020-11-06. Retrieved 2019-09-26.
  24. ^"Bill Ackman's Pershing Square takes 9.9% stake in Chipotle". CNBC. 6 September 2016. Archived from the original on 6 November 2020. Retrieved 9 September 2016.
  25. ^Franck, Thomas (2018-04-05). "How Bill Ackman's hedge fund empire crumbled in less than three years". CNBC. Archived from the original on 2020-11-06. Retrieved 2018-04-05.
  26. ^"Ackman's $500 Million Bet on Ackman Pays Off After Bad Run". Retrieved 2019-09-26.
  27. ^Franck, Thomas (July 2, 2019). "Pershing Square up 45% in the first half of 2019 as Bill Ackman win streak continues". CNBC. Archived from the original on November 6, 2020. Retrieved September 26, 2019.
  28. ^"US investor Bill Ackman places new bet against corporate credit".
  29. ^"Bill Ackman claims firm made $2.6bn betting on coronavirus outbreak".
  30. ^"Bill Ackman Is Right to Hedge on Corporate Credit".
  31. ^Stevenson, Alexandra (11 March 2014). "Herbalife Shares Fall as Ackman Makes New Accusations". The New York Times. Archived from the original on 16 March 2014. Retrieved 24 March 2014.
  32. ^ abStanford, Duane (24 March 2014). "Herbalife Strengthens Ties With Icahn as Ackman War Rages". Herbalife Strengthens Ties With Icahn as Ackman War Rages. Retrieved 24 March 2014.
  33. ^Schmidt, Michael (9 March 2014). "After Big Bet, Hedge Fund Pulls the Levers of Power". The New York Times. Archived from the original on 14 January 2017. Retrieved 24 March 2014.
  34. ^DealBook (10 March 2014). "Ackman vs. Herbalife, a History". The New York Times (DealBook). Archived from the original on 6 November 2020. Retrieved 24 March 2014.
  35. ^"FBI conducting a probe into Herbalife: sources". April 2014. Archived from the original on 13 April 2014. Retrieved 11 April 2014.
  36. ^Zacks Equity Research (20 March 2015). "Herbalife Soars as Judge Dismisses Lawsuit (revised)". Yahoo Finance. Verizon Media. Archived from the original on 9 July 2017. Retrieved 23 March 2015.
  37. ^Holm, Erik (13 March 2015). "Bill Ackman Not Backing Down On Herbalife". Wall Street Journal (MoneyBeat). Archived from the original on 17 June 2015. Retrieved 16 June 2015.
  38. ^"PAH Major Holders". Yahoo Finance. 30 June 2014. Archived from the original on 27 April 2016. Retrieved 17 January 2017.
  39. ^"Why Pershing Initiates Position in Platform Specialty Products". Yahoo Finance. 19 May 2014. Archived from the original on 9 April 2016. Retrieved 17 January 2017.
  40. ^"Pershing Square Discloses Platform Specialty Products Stake". Market Folly. 27 January 2014. Archived from the original on 19 August 2014. Retrieved 16 August 2014.
  41. ^"Bill Ackman Announces 30.9% Stake in Platform Specialty Products". NASDAQ.com. 27 January 2014. Archived from the original on 6 November 2020. Retrieved 16 August 2014.
  42. ^"Platform Lists on NYSE After MacDermid Deal, Pershing Stake". TheStreet. 25 January 2014. Archived from the original on 14 August 2014. Retrieved 16 August 2014.
  43. ^"Ackman-Backed Platform to Buy Chemtura Unit for $1 Billion". Bloomberg Businessweek. 17 April 2014. Archived from the original on 2014-04-23. Retrieved 2014-08-16.
  44. ^"Ackman Going Public, Should Mega Cap Stocks Worry?". ValueWalk. 13 August 2014. Archived from the original on 16 August 2014.
  45. ^"The Outsider". SEC. 22 April 2014. Archived from the original on 6 November 2020. Retrieved 8 September 2017.
  46. ^"How 'The Outsiders' Became One Of The Most Important Business Books In America". Forbes. 8 May 2014. Archived from the original on 6 November 2020. Retrieved 8 September 2017.
  47. ^"Pershing Square's Presentation on Allergan/Valeant: The Outsider". Market Folly. 23 April 2014. Archived from the original on 19 August 2014. Retrieved 16 August 2014.
  48. ^"Ruling Puts Crimp in Takeover Alliances". Capital Activist. 8 November 2014. Archived from the original on 29 March 2016. Retrieved 11 November 2014.
  49. ^"Pershing Square Tontine Holdings, Ltd. Announces $4,000,000,000 Initial Public Offering at $20.00 Per Share"(PDF). Pershing Square Tontine Holdings Investor Relations.
  50. ^ ab"Bill Ackman and Pershing Square Launch Largest SPAC To Date: A Harbinger of Things to Come?". Debevoise. Retrieved 2021-02-27.
  51. ^Jasinski, Nicholas. "Bill Ackman's SPAC Splits Today. Here's What That Means". MarketWatch. Retrieved 2021-02-27.
  52. ^"Betting On Zero". Betting On Zero. Archived from the original on 2020-11-06. Retrieved 2019-09-26.
  53. ^Carroll, Leah. "The Female Short Seller Of Netflix's". www.refinery29.com. Archived from the original on 2019-09-26. Retrieved 2019-09-26.
Sours: https://en.wikipedia.org/wiki/Pershing_Square_Capital_Management

Square stock pershing

Bill AckmanBill Ackman Stocks Portfolio


Top HoldingsLargest TradesPortfolio StructureSector AllocationPerformance History

Pershing Square Capital Management Holdings Heatmap

Top 50 Pershing Square Capital Management Holdings

Largest Stock Buys since Q2 2021:

StockCompany NameSharesValue% ChangeChange% of PortfolioOwnership HistPrice HistoryDate

Largest Stock Sells since Q2 2021:

StockCompany NameSharesValue% ChangeChange% of PortfolioOwnership HistPrice HistoryDate

Sector Allocation over time

Pershing Square Capital Management Performance History

Performance compared to other Funds

Sours: https://hedgefollow.com/funds/Pershing+Square+Capital+Management
Is Pershing Square Holdings a good investment opportunity?? -Bill Ackman-

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