Pershing Square Holdings, Ltd.

After 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.

PSH 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.