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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": "Includes a specific callout regarding the widening discount to NAV.",
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      "text": "2021 was a strong year for PSH with NAV appreciation of 26.9% and a total shareholder return of 18.6%",
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      "text": "PSH's discount to NAV widened by 5.3% from 23.0% in the beginning of 2021 to 28.3% as of December 31, 2021",
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      "kind": "callout",
      "text": "PSH’s discount to NAV widened by 5.3% from 23.0% in the beginning of 2021 to 28.3% as of December 31, 2021",
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      "text": "Note: PSH share price performance reflects public shares traded on Euronext Amsterdam (PSH:NA) and includes dividends. All index returns include dividend reinvestment. Past performance is not necessarily indicative of future results.",
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