{
  "docId": "019dd923-622c-750b-8b9c-1c236b5335d8",
  "docSlug": "ded99bd7e3eb",
  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2025-02-11 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 61,
  "pageCount": 75,
  "prevPage": 60,
  "nextPage": 62,
  "slideType": "key_takeaways",
  "function": "summarize",
  "density": "dense",
  "nDataPoints": 6,
  "notes": "Slide 61 from an activist investor deck, likely Pershing Square.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "callout_box",
    "footnote",
    "logo_grid"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-1c236b5335d8/61",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-1c236b5335d8",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-1c236b5335d8.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-1c236b5335d8#slide-61",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.78,
        "x": 0.16,
        "y": 0.63
      },
      "kind": "callout",
      "text": "Completed spin-off of Seaport Entertainment Group (“SEG”)",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "01be7be0-b90b-4936-9f8a-6ddf606a8738",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.78,
        "x": 0.16,
        "y": 0.17
      },
      "kind": "callout",
      "text": "HHH’s strong business momentum highlights its uniquely advantaged business model of owning master planned communities (“MPCs”)",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7ee30d3d-26b7-456c-996e-15a8608e9e72",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.78,
        "x": 0.16,
        "y": 0.29
      },
      "kind": "list",
      "text": "Robust results across every segment in HHH’s high-quality portfolio: Shortage of resale housing inventory, 2024 MPC EBT guide of $330 million, Same-store NOI growth, $3.1 billion of contracted future revenue, $700 million in aggregate financings.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ced8f6f8-6dd6-4d8e-9187-8604629597ea",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.78,
        "x": 0.16,
        "y": 0.7
      },
      "kind": "list",
      "text": "SEG includes the Seaport District in NYC, the Las Vegas Aviators baseball team and an ownership stake in Jean-Georges Restaurants; Appointed Anton Nikodemus as CEO of SEG; SEG completed a $175 million rights offering.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ddd1b613-4d85-42e3-95b5-bc0e1e8e9950",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.75,
        "x": 0.05,
        "y": 0.97
      },
      "kind": "source-note",
      "text": "Source: Company filings. This slide contains Pershing Square's own views and opinions, based on publicly available information, to illustrate Pershing Square's thinking on the matters therein.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c3e3ca87-dc35-482d-a074-87312567def8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.45,
        "x": 0.04,
        "y": 0.08
      },
      "kind": "title",
      "text": "Howard Hughes Holdings (\"HHH\")",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7c8c8e07-fac0-4bec-b171-ddfafe9caf72",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}