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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
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  "presentationDate": "2018-01-29 00:00:00",
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  "notes": "The slide uses a timeline-annotated line chart to contextualize stock performance against specific legal and political events.",
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      "kind": "callout",
      "text": "FNMA and FMCC share prices have decreased 3% and 1%, respectively, from our average cost at announcement date to January 19, 2018",
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      "text": "FNMA (blue), FMCC (red)",
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      "text": "share price: -3%",
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      "kind": "paragraph",
      "text": "Note: The performance of FNMA's and FMCC's share prices is provided for illustrative purposes only and is not an indication of future returns of the Pershing Square funds. *Average cost at announcement date of $2.29 for FNMA and $2.14 for FMCC.",
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      "kind": "title",
      "text": "FNMA and FMCC: Performance Since Inception",
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      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
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