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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2019-02-13 00:00:00",
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  "pageNumber": 15,
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  "notes": "The chart highlights Pershing Square's performance relative to the S&P 500 in different market conditions.",
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      "kind": "chart",
      "text": "Grouped bar chart showing returns for Pershing Square and S&P 500 across three categories: Average Monthly Return, Average Return in Up Months, and Average Return in Down Months.",
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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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      "text": "Average Monthly Return: 1.2%",
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      "kind": "source-note",
      "text": "(1) Data represents performance of PSLP, the fund managed by Pershing Square with the longest track record. \"Up\" months and \"down\" months are defined as months in which the closing price of the S&P 500 on the last business day of the relevant month was higher and lower, respectively, than the closing price of the S&P 500 on the last business day of the immediately preceding month.",
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      "kind": "title",
      "text": "Long-Term Performance in Up & Down Markets",
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      "kind": "title",
      "text": "Pershing Square, L.P. Net Returns vs. S&P 500 (1/1/2004 through 1/31/2019)(1)",
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