Pershing Square Holdings, Ltd. · PSH
6 decks published between 2018-01-29 and 2026-02-11 — 395 pages, 337 analysed slides total. Outcome: ongoing.
Timeline
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2018-01-29 follow up
2018 01 2018 Annual London Investor Presentation_FINAL
58pp · full_deckAfter a -4% 2017, Pershing Square restructures to a leaner investment-centric team, reaffirms core principles, and launches a $300mm PSCM tender to close PSH's ~20% NAV discount.
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2019-02-13 follow up
2019 02 2019 Annual Investor Update Presentation
58pp · full_deckPSH offers an activist portfolio compounding well above the S&P 500, available at a 27% discount to NAV, with a new dividend, buybacks, and insider buying narrowing the gap.
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2021-02-18 follow up
2021 02 PSH 2021 Annual Investor Presentation
57pp · full_deck -
2023-02-09 follow up
2023 02 2023 Annual Investor Presentation
62pp · full_deckPSH's hedging-led 2022 outperformance and 25%+ five-year compounding deserve a narrower discount to NAV; buybacks, rising dividend and FTSE 100 inclusion are closing the gap.
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2025-02-11 follow up
2025 02 2025 Annual Investor Presentation_PSH_vDF
75pp · full_deckFund-level recap: PSH's 22.9% seven-year NAV CAGR, conservative leverage and PSCM stake sale set up a narrowing of the persistent ~30% discount to NAV.
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2026-02-11 follow up
2026 02 2026 Annual Investor Presentation
85pp · full_deckPershing Square's 22.6% 8-year NAV CAGR validates the permanent-capital model; 2025's 33.9% TSR narrowed the NAV discount and the HHH/Vantage transformation extends the compounding runway.