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  "documentTitle": "Pershing Square | Activist Presentation Deck | 68 slides",
  "authorId": "pershing-square",
  "authorName": "Pershing Square Holdings",
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  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-02-01 00:00:00",
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  "notes": "The chart uses a timeline-style annotation approach to correlate share price volatility with specific litigation and political milestones.",
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      "text": "FNMA and FMCC share price performance from 10/7/2013 to 2/8/2022",
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      "text": "Note: The performance of FNMA's and FMCC's share prices is provided for illustrative purposes only and is not an indication of future returns of the Pershing Square funds. *Average cost at announcement date of $2.29 for FNMA and $2.14 for FMCC.",
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      "text": "FNMA and FMCC share prices declined 66% and 64%, respectively, in 2021 and both increased 5% year-to-date in 2022(1)",
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      "text": "FNMA and FMCC Performance Since Inception",
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