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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
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  "authorName": "Pershing Square Holdings",
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  "notes": "The table breaks down detractors by specific positions and interest expenses.",
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      "kind": "disclaimer",
      "text": "Past performance is not a guarantee of future results. All investments involve risk, including the loss of principal. Positions with contributions to performance of 50 basis points or more are listed above separately, while positions with contributions to performance of less than 50 basis points are aggregated. Please see the additional disclaimers and notes to performance results at the end of this presentation. (1) Bond interest expense includes a one-time bond extinguishment expense of $12.1 million in connection with the partial cancellation of the 2022 Bonds.",
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      "text": "Gross Returns: (13.2%)",
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      "text": "Detractors PSH Pershing Square Tontine Holdings (6.5%) Fannie Mae & Freddie Mac (4.0%) Index CDS (1.1%) All Other Positions (0.3%) Total Detractors - Underlying Portfolio (11.9%) Bond Interest Expense(1) (1.3%) Total Detractors - incl. Interest Expense (13.2%)",
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      "text": "2021 Detractors (Gross Returns)",
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