Pershing Square Holdings, Ltd Fund Data

PSH's objective is to maximize its long-term compound annual rate of growth in intrinsic value per share. The substantial majority of the Company's portfolio is typically allocated to 8 to 12 core holdings usually comprising liquid, listed large capitalization North American companies. The Investment Manager generally focuses on high-quality growth businesses, which it believes have limited downside and that generate predictable, recurring cash flows, and in certain cases seeks to catalyze managerial, operating and governance changes as levers to create substantial, enduring and long-term shareholder value. The Investment Manager aims to manage risks through careful investment selection and portfolio construction, engaging in typically only one to three new core investments each year. The Investment Manager may use opportunistic hedging strategies to mitigate market-related downside risk or to take advantage of asymmetric profit opportunities.

PSH's objective is to maximize its long-term compound annual rate of growth in intrinsic value per share. The substantial majority of the Company's portfolio is typically allocated to 8 to 12 core holdings usually comprising liquid, listed large capitalization North American companies. The Investment Manager generally focuses on high-quality growth businesses, which it believes have limited downside and that generate predictable, recurring cash flows, and in certain cases seeks to catalyze managerial, operating and governance changes as levers to create substantial, enduring and long-term shareholder value. The Investment Manager aims to manage risks through careful investment selection and portfolio construction, engaging in typically only one to three new core investments each year. The Investment Manager may use opportunistic hedging strategies to mitigate market-related downside risk or to take advantage of asymmetric profit opportunities.