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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
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      "kind": "callout",
      "text": "Market volatility following the April tariff announcement allowed us to buy AMZN, one of the world's best businesses, at an all-time low valuation",
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      "text": "Source: Bloomberg consensus estimates. Pershing Square began purchasing its current investment in AMZN on 4/21/25.",
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      "text": "Macro Volatility Dislocates Valuation: AMZN",
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