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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
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  "authorName": "Pershing Square Holdings",
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      "kind": "callout",
      "text": "FNMA and FMCC share prices declined 66% and 64%, respectively, in 2021 and both increased 5% year-to-date in 2022(1)",
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      "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. (1) As of 2/8/2022.",
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