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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 details on bond redemption, capital structure, and debt metrics.",
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      "text": "PSH redeemed the remaining $631 million balance of its 2022 bonds on June 15, 2022",
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      "text": "PSH's long-term debt management strategy is to manage leverage over time by increasing NAV through strong performance and laddering its maturities through new issuances",
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      "text": "Note: Total Capital and the ratio of Total Debt to Total Capital are calculated in accordance with the PSH Bonds' Indentures. Total Capital is defined as Net Asset Value plus Total Debt and is net of accrued performance fee. (1) Assumes a 1.07x EUR/USD exchange rate.",
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      "text": "Weighted average cost of capital: 3.09% / Weighted average maturity: 9.1 years",
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      "text": "Total Indebtedness to Total Capital: 19.1%",
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      "text": "2022 Corporate Actions: Bond Redemption",
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