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William Ackman · activist-deck

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

62 pages · 6 arc beats · 4 loops

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

William Ackman · 2020-02
arc beats above · slides in the middle · loops below · scroll → 4 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 5
— No image bound to this slide. Wire up imgproxy to display the rendered slide JPEG.
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Deck intelligence map

6
coverage by narrative range · generated from this deck JSON
Narrative range 60 total
Metadata
Components
Metrics
Tools
Frameworks
Beats
Loops
Attention 4 slides 100% 4/4 slides 100% 4/4 slides · 12 hits
— 0/4 slides
50% 2/4 slides
— 0/4 slides
100% 4/4 slides
— 0/4 slides
Interest 5 slides 100% 5/5 slides 100% 5/5 slides · 26 hits
— 0/5 slides
80% 4/5 slides 60% 3/5 slides 100% 5/5 slides
— 0/5 slides
Problem & Complication 5 slides 100% 5/5 slides 100% 5/5 slides · 22 hits
— 0/5 slides
40% 2/5 slides 20% 1/5 slides 100% 5/5 slides 100% 5/5 slides Solution & Approach 11 slides 100% 11/11 slides 100% 11/11 slides · 62 hits
— 0/11 slides
27.3% 3/11 slides 18.2% 2/11 slides 100% 11/11 slides 100% 11/11 slides Desire 10 slides 100% 10/10 slides 100% 10/10 slides · 52 hits
— 0/10 slides
50% 5/10 slides 40% 4/10 slides 100% 10/10 slides
— 0/10 slides
Action 25 slides 100% 25/25 slides 100% 25/25 slides · 170 hits
— 0/25 slides
48% 12/25 slides 44% 11/25 slides 100% 25/25 slides 20% 5/25 slides

Slide inventory

62
every slide · same image gating as the playbook
01
Slide 1
front_matter
Open slide detailBeat · Attention
02
other
Open slide detailBeat · Attention
03
front_matter
Open slide detailBeat · Attention
04
transition
Open slide detailBeat · Attention
05
introduce_nominees
Open slide detailBeat · Interest
06
This slide outlines the governance framework of the PSH board.summarize
Open slide detailBeat · Interest
07
The slide uses a two-column vertical timeline format with color-coded date boxes.summarize
Open slide detailBeat · Interest
08
The chart highlights a contradiction between strong NAV/share performance and a widening discount to NAV.analyze_data
Open slide detailBeat · Interest
09
summarize
Open slide detailBeat · Interest
10
Includes footnote regarding calculation of public shares outstanding.analyze_data
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
11
establish_context
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
12
other
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
13
transition
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
14
The slide uses a blue bar for PSH and green bars for benchmarks to visually distinguish the subject from the comparison group.compare_peers
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
15
The table shows a transition from PSLP to PSH in 2012.compare_peers
Open slide detailBeat · Solution & ApproachLoop · Aha Moment
16
The chart includes a vertical line marking the launch of PSH on December 31, 2012.compare_peers
Open slide detailBeat · Solution & ApproachLoop · Aha Moment
17
The table shows positive contributions from various companies, share buybacks, and other income, offset by bond interest expense.analyze_data
Open slide detailBeat · Solution & ApproachLoop · Aha Moment
18
summarize
Open slide detailBeat · Solution & ApproachLoop · Aha Moment
19
The slide provides a breakdown of AUM across three specific funds and a total, with a footnote clarifying the treatment of bond proceeds.analyze_data
Open slide detailBeat · Solution & ApproachLoop · Aha Moment
20
transition
Open slide detailBeat · Solution & ApproachLoop · Aha Moment
21
summarize
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
22
summarize
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
23
Uses a visual flow from left (engagement method) to right (desired outcome).present_framework
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
24
establish_context
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
25
The slide uses a case study approach to demonstrate the efficacy of the firm's activist strategy.illustrate_case
Open slide detailBeat · Solution & ApproachLoop · Golden Circle
26
summarize
Open slide detailBeat · Desire
27
The chart uses color-coded borders to distinguish between operational leadership group members and new roles/additions.other
Open slide detailBeat · Desire
28
introduce_nominees
Open slide detailBeat · Desire
29
transition
Open slide detailBeat · Desire
30
Includes a callout box at the bottom explaining the investment thesis/entry point.establish_context
Open slide detailBeat · Desire
31
summarize
Open slide detailBeat · Desire
32
summarize
Open slide detailBeat · Desire
33
The slide uses a bar chart comparison to illustrate operational inefficiency at Agilent relative to Waters.expose_gap
Open slide detailBeat · Desire
34
The slide uses a bar chart to justify a potential increase in leverage for Agilent.expose_gap
Open slide detailBeat · Desire
35
The chart highlights the impact of Pershing Square's investment announcement and earnings reports on share price.analyze_data
Open slide detailBeat · Desire
36
The slide uses a structured list format to present the investment thesis for Berkshire Hathaway.summarize
Open slide detailBeat · ActionLoop · Cost Of Inaction
37
The slide uses a callout to annotate a specific point in the time series data.analyze_data
Open slide detailBeat · ActionLoop · Cost Of Inaction
38
summarize
Open slide detailBeat · ActionLoop · Cost Of Inaction
39
The chart highlights the correlation between activist intervention/management changes and share price appreciation.illustrate_case
Open slide detailBeat · ActionLoop · Cost Of Inaction
40
summarize
Open slide detailBeat · ActionLoop · Cost Of Inaction
41
The chart highlights specific earnings calls as catalysts for share price movement.analyze_data
Open slide detailBeat · Action
42
The slide uses a classic activist investor thesis structure: strong fundamentals + valuation gap = upside.summarize
Open slide detailBeat · Action
43
The chart includes a baseline of $16* representing the average cost since the merger with Justice Holdings.analyze_data
Open slide detailBeat · Action
44
summarize
Open slide detailBeat · Action
45
The chart uses callout boxes to correlate specific dates and events with stock price movements.illustrate_case
Open slide detailBeat · Action
46
summarize
Open slide detailBeat · Action
47
propose_solution
Open slide detailBeat · Action
48
summarize
Open slide detailBeat · Action
49
The chart highlights the impact of strategic announcements on share price performance.analyze_data
Open slide detailBeat · Action
50
The slide uses a chronological list structure to build a case for investment thesis.summarize
Open slide detailBeat · Action
51
The slide uses a timeline-annotated line chart to correlate stock price volatility with specific regulatory and legal milestones.illustrate_case
Open slide detailBeat · Action
52
transition
Open slide detailBeat · Action
53
Slide 53 from an activist investor deck (Pershing Square).summarize
Open slide detailBeat · Action
54
The slide highlights the correlation between specific corporate events and share price movement following Pershing Square's investment.illustrate_case
Open slide detailBeat · Action
55
This slide serves as a case study of a successful activist investment, highlighting the transformation initiatives and the resulting financial returns.illustrate_case
Open slide detailBeat · Action
56
The chart highlights the period of the 'ADP Proxy Contest' and subsequent operational improvements.illustrate_case
Open slide detailBeat · Action
57
The slide uses a color-coded structure to contrast the original investment thesis (blue) with the contradictory merger action (red) and the resulting loss of coexpose_contradiction
Open slide detailBeat · Action
58
The slide uses a timeline-annotated line chart to correlate corporate events with stock price movements.illustrate_case
Open slide detailBeat · Action
59
The chart uses a dashed line to indicate the initial purchase price of $10.illustrate_case
Open slide detailBeat · Action
60
state_next_steps
Open slide detailBeat · Action
61
other
Open slide detail
62
Page number 62 at the bottom.appendix
Open slide detail