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  "documentTitle": "Pershing Square Portfolio (multi-position annual update)",
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  "authorName": "Pershing Square Capital Management",
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      "text": "PSH allows Pershing Square to more effectively pursue its strategy",
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      "text": "The stability of PSH’s capital enhances Pershing Square’s ability to successfully execute its investment strategy",
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      "text": "Reduces the need to manage cash for potential redemptions\nAllows for increased percentage of capital to be invested in core strategy\nExpands Pershing Square’s future investment universe\nLengthens average duration of capital\nFacilitates constructive relationships with target companies",
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