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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
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  "authorName": "William Ackman",
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      "text": "We believe Fannie and Freddie are firmly on a path towards exiting conservatorship",
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      "text": "Major progress achieved over the last twelve months: New FHFA Director Mark Calabria appointed, Treasury Housing Finance Reform plan released, Net worth sweep suspended, Favorable court decisions, Houlihan Lokey hired.",
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      "text": "Several important catalysts on the horizon prior to the election: Re-proposal and finalization of GSE capital rule, Negotiation of Fourth PSPA amendment.",
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      "text": "(1) Preferred Stock Purchase Agreement.",
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