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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2025-02-11 00:00:00",
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  "pageNumber": 24,
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  "notes": "The chart uses a dashed line to visually separate the primary subject (PSH) from the benchmark indices.",
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      "kind": "callout",
      "text": "7 Year Compound Annual Return: PSH NAV Net of Fees vs. Indices Total Return",
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      "text": "Bar chart showing PSH NAV at 22.9% vs S&P 500 (13.8%), FTSE 100 (3.6%), MSCI World (10.8%), HFRX Activist Index (8.7%), and HFRX Equity Hedge Index (4.0%)",
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      "kind": "disclaimer",
      "text": "Reflects returns from 12/31/17 through 12/31/24... (1) FTSE 100 index reflects USD-denominated returns... (2) HFRX Equity Hedge Index and HFRX Activist Index are constructed and maintained by Hedge Fund Research, Inc.",
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      "text": "7 Year Compound Annual Return: 22.9%",
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      "text": "PSH Annual Outperformance: 910 bps, 1,930 bps, 1,210 bps, 1,420 bps, 1,890 bps",
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      "kind": "title",
      "text": "Significant Outperformance Since the Inception of Pershing Square’s Permanent Capital Era",
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