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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
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  "authorName": "Pershing Square Holdings",
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      "text": "An investment in PSH will entail substantial risks, including, but not limited to, those listed below, and a prospective investor should carefully consider the following summary of certain risk factors below.",
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      "text": "An investment in PSH will entail substantial risks, including, but not limited to, those listed below, and a prospective investor should carefully consider the following summary of certain risk factors below:",
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      "text": "THIS GENERAL INVESTMENT FUND RISK DISCLOSURE IS NOT COMPLETE. THE ABOVE SUMMARY IS NOT A COMPLETE LIST OF THE RISKS AND OTHER IMPORTANT DISCLOSURES INVOLVED IN INVESTING IN PSH AND IS SUBJECT TO THE MORE COMPLETE DISCLOSURES CONTAINED IN PERSHING SQUARE'S FORM ADV PART 2A AND IN PSH'S PROSPECTUS, WHICH MUST BE REVIEWED CAREFULLY.",
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      "text": "PS Holdings Independent Voting Company Limited controls a majority of the voting power of all of PSH's shares; PSH shares may trade at a discount to NAV and their price may fluctuate significantly and potential investors could lose all or part of their investment; and PSH is dependent on William A. Ackman.",
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      "text": "Speculative Investment and High Degree of Risk. ... Relevance of Past Performance. ... Business and Regulatory Risks of Funds. ... Concentration of Investments. ... Engaged Investing. ... Derivatives, Hedging, and Currency. ... Investment Opportunities. ... Control Investments.",
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