{
  "docId": "019dd923-622c-750b-8b9c-242e23015294",
  "docSlug": "cb06bd893f1e",
  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
  "authorId": "01_Pershing_Square",
  "authorName": "Pershing Square Holdings",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2026-02-11 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 27,
  "pageCount": 85,
  "prevPage": 26,
  "nextPage": 28,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "balanced",
  "nDataPoints": 6,
  "notes": "The chart highlights superior performance in down months for PSLP/PSH compared to the S&P 500.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "bar_chart_grouped",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-242e23015294/27",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-242e23015294",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-242e23015294.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-242e23015294#slide-27",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.88,
        "x": 0.06,
        "y": 0.185
      },
      "kind": "callout",
      "text": "PSLP / PSH Average Monthly Net Return vs. S&P 500 through December 31, 2025",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "41e92ec4-8737-47f6-8223-d99a0479c430",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.84,
        "x": 0.08,
        "y": 0.35
      },
      "kind": "chart",
      "text": "Grouped bar chart showing returns for PSLP/PSH and S&P 500 across three categories: Average Monthly Return, Average Return in Up Months, and Average Return in Down Months.",
      "attrs": null,
      "subkind": "bar-grouped",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "907d1ac4-41be-4d3d-8cad-ffea09bdb4d5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Average Monthly Net Return: 1.4%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-3f3c-7011-a99c-bb06fa620cc7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.9,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Note: Data starting from PSLP inception on 1/1/04. Past performance is not necessarily indicative of future results. All investments involve the possibility of profit and the risk of loss, including the loss of principal. Please see the additional disclaimers and notes to performance results at the end of this presentation.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "09b136b1-4a82-4180-a860-8239698ae21d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.92,
        "x": 0.04,
        "y": 0.09
      },
      "kind": "title",
      "text": "PSLP / PSH Average Monthly Net Return vs. S&P 500",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "620bf513-5ca1-4cc3-a3a1-1cd68c2b059e",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Slide recipe: the peer-gap chart",
      "slug": "peer-gap-chart-recipe",
      "agent": "designer",
      "layer": "slide",
      "matchId": "a5896f89-a1a3-47c8-ba93-6a328faefe24",
      "evidence": "peer_benchmark type with chart/bar-grouped and callout/primary",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "comparison-frame",
      "slug": null,
      "matchId": "842b74ba-32b6-4d6c-ba5f-0d36efbcd9b4",
      "evidence": "Direct comparison of performance metrics between two entities across different market conditions.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 33,
      "from": 20,
      "beatId": "a3364ae6-e40e-455c-9907-b31531b4502c",
      "arcName": "Monroe's Motivated Sequence",
      "arcSlug": "monroes-sequence",
      "beatName": "Satisfaction",
      "beatSlug": "monroes-sequence-satisfaction",
      "evidence": "The document provides a performance review and update on strategic initiatives",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}