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William Ackman · activist-deck

Pershing Square Holdings Portfolio (multi-position) (PSH)

58 pages · 4 arc beats · 2 loops

Activist-Deck Download JSON
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Pershing Square Holdings Portfolio (multi-position) (PSH)

William Ackman · 2018-01
arc beats above · slides in the middle · loops below · scroll → 2 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 2
— No image bound to this slide. Wire up imgproxy to display the rendered slide JPEG.
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Deck intelligence map

4
coverage by narrative range · generated from this deck JSON
Narrative range 7 total
Metadata
Components
Metrics
Tools
Frameworks
Beats
Loops
Attention 1 slides 100% 1/1 slides 100% 1/1 slides
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100% 1/1 slides
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Interest 4 slides 100% 4/4 slides 100% 4/4 slides · 9 hits
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100% 4/4 slides
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Desire 1 slides 100% 1/1 slides 100% 1/1 slides · 5 hits
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100% 1/1 slides · 2 hits
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100% 1/1 slides
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Action 1 slides 100% 1/1 slides 100% 1/1 slides
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Slide inventory

58
every slide · same image gating as the playbook
01
Slide 1
front_matter
Open slide detail
02
other
Open slide detail
03
front_matter
Open slide detail
04
transition
Open slide detailBeat · Attention
05
introduce_nominees
Open slide detailBeat · Interest
06
present_framework
Open slide detailBeat · Interest
07
establish_context
Open slide detailBeat · Interest
08
transition
Open slide detailBeat · Interest
09
The slide includes a standard financial disclaimer at the bottom.compare_peers
Open slide detailLoop · Logic Chain
10
The chart shows Pershing Square significantly outperforming the S&P 500 over the long term despite volatility.compare_peers
Open slide detailLoop · Logic Chain
11
The chart demonstrates the fund's relative outperformance in down months compared to the S&P 500.compare_peers
Open slide detailLoop · Logic Chain
12
The table lists specific companies and their contribution to returns, ending with a total.analyze_data
Open slide detailLoop · Logic Chain
13
The slide uses a standard table format to attribute performance detractors.analyze_data
Open slide detailLoop · Logic Chain
14
Includes performance data from 2004-2017 for L.P. and 2013-2017 for Holdings.analyze_data
Open slide detailLoop · Logic Chain
15
Includes a detailed disclaimer regarding the calculation of AUM and specific fund co-investments.analyze_data
Open slide detailLoop · Logic Chain
16
transition
Open slide detail
17
summarize
Open slide detail
18
The chart uses callouts to annotate specific historical milestones (launches, challenges) against the growth trajectory.analyze_data
Open slide detail
19
The chart highlights specific individuals as 'Operational Leadership Group Members' via a blue border.other
Open slide detail
20
summarize
Open slide detail
21
This slide outlines the investment philosophy/screening criteria for the firm.present_framework
Open slide detail
22
summarize
Open slide detail
23
summarize
Open slide detail
24
The slide highlights five specific investment positions, including one undisclosed.summarize
Open slide detail
25
The slide uses a table to show that stock price appreciation during the diligence phase limited the firm's ability to accumulate larger positions in Hilton, Nikpreempt_rebuttal
Open slide detail
26
summarize
Open slide detail
27
The slide provides a professional summary of the investment team as of March 31, 2018.introduce_nominees
Open slide detail
28
The slide uses a list format to highlight key structural and cultural advantages of the team.summarize
Open slide detail
29
Includes a footnote regarding the PSH High Water Mark date.summarize
Open slide detailBeat · Desire
30
transition
Open slide detail
31
This slide outlines the core activist thesis for ADP, focusing on operational improvements and valuation gap.summarize
Open slide detail
32
The chart uses a dashed line to indicate the average cost basis ($105) and highlights specific dates of activist engagement.illustrate_case
Open slide detailLoop · Before After
33
summarize
Open slide detailLoop · Before After
34
The chart highlights specific corporate events (acquisitions and share purchases) against the stock price trajectory.analyze_data
Open slide detailLoop · Before After
35
The slide uses a structured argument format to justify a long position.quantify_opportunity
Open slide detailLoop · Before After
36
The chart highlights specific events (Pershing Square 13D, margin target raises, Kraft Heinz bid, CEO transition) and their correlation with share price movemenanalyze_data
Open slide detailLoop · Before After
37
The slide highlights operational milestones for HHC's various developments and explains a specific financial transaction by PSH regarding FIRPTA compliance.summarize
Open slide detailLoop · Before After
38
The chart highlights the growth from an average cost at announcement ($37) to the current price ($128).analyze_data
Open slide detailLoop · Before After
39
frame_situation
Open slide detailLoop · Before After
40
The slide uses a timeline-annotated line chart to correlate specific management/operational events with stock price volatility.expose_contradiction
Open slide detailLoop · Before After
41
summarize
Open slide detailLoop · Before After
42
The slide uses a timeline-annotated line chart to contextualize stock performance against specific legal and political events.analyze_data
Open slide detailLoop · Before After
43
The slide uses a structured list format to highlight operational success, valuation gap, and corporate strategy.summarize
Open slide detailLoop · Before After
44
The slide uses callout boxes to link specific dates and events to the share price trajectory.illustrate_case
Open slide detailLoop · Before After
45
summarize
Open slide detailLoop · Before After
46
Includes a callout for the Investor Day event on 10/25/17.analyze_data
Open slide detailLoop · Before After
47
Slide 47 from an activist investor deck (Pershing Square).summarize
Open slide detailLoop · Before After
48
The chart highlights the contrast between the initial short thesis and the subsequent share price appreciation.illustrate_case
Open slide detailLoop · Before After
49
transition
Open slide detail
50
The slide serves as a summary of the investment thesis and the final outcome (exit).summarize
Open slide detail
51
Slide 51 of the deck.summarize
Open slide detail
52
transition
Open slide detail
53
The chart uses a dual-axis approach to overlay performance against discount volatility.analyze_data
Open slide detail
54
Slide 54 of an activist deck.summarize
Open slide detail
55
Slide 55 of the deck.plan_implementation
Open slide detail
56
closing_ask
Open slide detailBeat · Action
57
Page number 57 at the bottom.other
Open slide detail
58
other
Open slide detail