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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
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  "authorName": "William Ackman",
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  "presentationDate": "2017-01-26 00:00:00",
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  "notes": "The slide explicitly attributes the negative performance period to the Valeant investment.",
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      "kind": "callout",
      "text": "We generated substantial negative returns from Q3 2015 to Q1 2016 driven largely by our Valeant investment, and positive returns thereafter",
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      "text": "Net Returns by Quarter (PSH)",
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      "kind": "disclaimer",
      "text": "Past performance is not necessarily indicative of future results. All investments involve the possibility of profit and the risk of loss, including the loss of principal. Please see the additional disclaimers and notes to performance results at the end of this presentation.",
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