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  "documentTitle": "Pershing Square | Investor Presentation Deck | 57 slides",
  "authorId": "pershing-square",
  "authorName": "Pershing Square Holdings",
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  "presentationDate": "2021-02-01 00:00:00",
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  "notes": "The table aggregates positions with less than 50 basis points of contribution, except for share buybacks.",
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      "kind": "disclaimer",
      "text": "Past performance is not a guarantee of future results. All investments involve risk, including the loss of principal. Positions with contributions to performance of 50 basis points or more are listed above separately, while positions with contributions to performance of less than 50 basis points are aggregated, except for accretion. Please see the additional disclaimers and notes to performance results at the end of this presentation. (1) Over the course of 2020, PSH executed share buybacks totaling $286 million at an average discount to NAV of 32.0%. The positive impact on performance due to the accretion from these share buybacks is reflected above.",
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      "text": "Contributors PSH Index CDS 36.6% Pershing Square Tontine Holdings 13.1% Lowe's 10.7% Chipotle Mexican Grill 10.2% Starbucks 7.6% Agilent Technologies 7.2% Restaurant Brands International 3.0% Hilton Worldwide 2.7% Accretion from Share Buybacks 2.4% Total 93.5%",
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      "kind": "title",
      "text": "2020 Contributors (Gross Returns)",
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