- Pershing Square Holdings, Ltd. is a closed-ended investment company. Its investment objective is to preserve capital and to seek long-term capital appreciation commensurate with reasonable risk.
- Pershing Square Holdings generated solid performance during the first half of 2021 and year-to-date, as our NAV total return per share increased 7.3% and 5.8% respectively, compared with the S&P’s half-year and year-to-date total return of 15.2% and 19.5%.
- Our year-to-date results have been driven by the positive performance of our core portfolio holdings as their strong operating results have contributed to their stock price increases.
- Our stock price remains substantially undervalued as it trades at a large discount to NAV, particularly as NAV reflects our costbasis for UMG, which we believe represents a meaningful discount to its eventual public trading value.
For further details see:
Pershing Square Holdings Semi-Annual Letter To Shareholders