Pershing Square Share Discussion Threads

[haroldthegreat] 30/1/2023 07:35

Perhaps the discount will narrow with the daily mail plug ! 10£ to £30 since I started the thread in 5 years

[lomax99] 29/1/2023 18:24

Https://www.thisismoney.co.uk/money/investing/article-11686835/MIDAS-SHARE-TIPS-Billionaire-help-funds-Pershing-Square-Holdings-FTSE-100-business-yllion-remains-relatively-unknown.html

[donald pond] 28/11/2022 08:52

Excellent call that one, thanks for the heads up.

[rambutan2] 19/11/2022 05:01

Now available:

[rambutan2] 17/11/2022 21:35

Is worth listening to the recording of today's call, when it is up on the website. Derivs have made us 11% this year, helping counterbalance the (temporary of course!?) 22% drop in the equities. Plenty of discussion on everything by Bill and co.

[apple53] 11/11/2022 21:29

thanks all for posting useful stuff; both specifics and interviews.

And Ricky especially for mentioning the idea of a US listing, which I will presume find out a little about when I catch up on reading, and which I have been focusing on as a catalyst (cf my post of August 25).

My challenge remains holding PSH when there are so many juicy PE trusts. Need to reassess discounts especially after dollar weakness and after 10-15% bounce in PIN and HVPE

[rickyl1] 11/11/2022 09:59

Investor call on Nov. 17th should hopefully shed some light on where we are and how the individual companies are sitting. I'd like to hear more on the potential move to a US listing. HHC looks an interesting vehicle to enable that move.

[donald pond] 11/11/2022 07:05

Some big moves in the biggest holdings: Lowes up 9% for example

[nexusltd] 10/11/2022 23:44

rambutan. Thanks for the heads up on the Ackman interview recordings.

[rambutan2] 10/11/2022 22:22

Out today, a hatrick of shorts. I sat up at the size of the buyback, which I hadn't really taken on board previously. Also a few comments on the derivs book.

AJ Bell Bill Ackman interview: Are you worried about a recession hurting your investments?

[nimbo1] 10/11/2022 21:54

nothing to worry about on that front - he saw rates peaking below 5 weeks ago. profit taken probably.

[jellypbean] 10/11/2022 21:54

I had read somewhere that the interest rate hedge has been closed now.

[apollocreed1] 10/11/2022 16:48

@Rickyl1 - Thanks.

Is there any way to know the value of the hedges as a percentage of the portfolio? I'm quite happy in any case that I took a big position today after US CPI was released and feel that there's actually more underlying value in the shares from now on if the Fed slows down it's pace of rate hikes.

[rickyl1] 10/11/2022 15:50

Also the bond yields are down quite a bit so maybe market thinks psh hedge has dropped significant value but who knows ?

[rickyl1] 10/11/2022 15:48

It often overshoots both ways and sometimes doesn't react either way. Best to ignore anomalies and stick with the plan imho.

[nimbo1] 10/11/2022 15:47

high volume today - someone selling at £29...

[apollocreed1] 10/11/2022 15:15

@rambutan2- Seeing how strong the US markets are now (Nasdaq 100 up about 5.5%) I'm surprised that PSH isn't up much. I understand that the weakening dollar would be a drag on this portfolio but the stocks have risen more than the fall in the dollar.

[rambutan2] 09/11/2022 22:48

AGT has just released its annual report, PSH remains its largest holding and on pg37-38 gets a small write up and estimate of the portfolio as at 30/09 (excluding derivs):

Universal Music Group 22.5%
Lowe’s 18.3%
Chipotle Mexican Grill 16.5%
Restaurant Brands 12.6%
Hilton 11.2%
Canadian Pacific Railway 9.9%
Howard Hughes 7.6%
Fannie Mae & Freddie Mac 1.5%

[donald pond] 04/11/2022 10:42

Because it's a Guernsey incorporated company. SD in general only on U.K. companies

[stevenlondon3] 04/11/2022 09:44

Good morning. Why are share purchases not charged stamp duty? Cheers

[rickyl1] 03/10/2022 09:29

2.6b on his interest rate swaptions at a cost of 440m, wow again.

[rambutan2] 02/10/2022 21:42

Bill Ackman talks cheap stocks and new hedge-type bets

[topvest] 18/9/2022 08:24

They disclose their Interest Rate Swaptions. Clear to see.

[apollocreed1] 16/9/2022 12:57

How can you know when this trust is holding options and swaptions? They don't seem to disclose that in their holdings.