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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
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  "authorName": "William Ackman",
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      "text": "III. Accelerated growth in core MPC business\nExtensive, unexploited demand for near- to intermediate-term developments\nRecently announced $565mm acquisition of premium office space and commercial land for development in The Woodlands",
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      "text": "I. Streamlined Organizational Structure\n$50mm per annum reduction in overhead expenses\nDecentralized regional management supported by a lean corporate footprint\nOverhead expense savings increase free-cash-flow generation and reduce reliance on land sales in the event of a potential downturn in the economy",
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      "text": "II. Sale of Non-Core Assets\n~$2bn of non-core asset sales, expected to generate net proceeds of ~$600mm\nProceeds will be redeployed into MPC development and share buybacks",
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