Pershing Square Share Discussion Threads

[rickyl1] 18/1/2024 11:15

Always interesting to see changes in the pf. I wonder if the Sparc is close to a deal.As you say, mid Feb 13f or maybe the Investor presentation on 8th Feb will give us the answer.

[jellypbean] 18/1/2024 10:30

Yes. You combining the transparency reports and the accounts, you can see that that made about 1.1Bn from their conventional financial assets in Dec, but the total value of these assets didn't change, so they must have sold about 1.4 Bn USD of something. There wasn't that much movement in the hedges. PSHZF SEC filings so far only show buying of HHH. Might need to wait 'till mid Feb for the 13F-HR quarterly list of holdings (excl UMG).

[rickyl1] 17/1/2024 23:17

I noticed in the December transparency report that Cash and Equivalents was at almost $1.9b (15%) up from $500m Is it too simple to assume they've sold a position or sold large chunks of several ?

[spooky] 12/1/2024 10:22

Think you being a bit selfish there. Might be better for everyone else if he did :-o)

[donald pond] 12/1/2024 09:07

UMG GOOG CMG all very strong. Just hope Bill stays and doesn't decide to stand for President

[donald pond] 12/1/2024 08:39

Arja I don't think there are difficult holdings. The SPARC doesn't have any value IIRC and everything else has a quoted price and is liquid.

[arja] 11/1/2024 14:53

surely the wide discount exists for a reason being the difficulty of valuing certain holdings . The chart tells the story and best just to trust it :)

[arja] 11/1/2024 14:38

now at previous high of 3600 but likely to break through today or soon and hit a new ATH . great for trading being a NO stamp duty stock or even just holding and riding out any dips on profit taking

[donald pond] 11/1/2024 08:23

Lowes has been doing well recently. Just after Bill wondered if he was losing patience with it too. GOOG at its highest since the 2021 peak. I sense it's mainly sterling strength holding back the NAV

[riverman77] 10/1/2024 14:45

One of Winterflood investment trust picks for 2024. Surely has to be only a matter of time before Ackman does something to address the discount - I am convinced this would trade on a premium on the US market.

[wirralowl] 08/1/2024 16:26

PSH one of the Ideas of The Year in Investors Chronicle - not sure if that's a good or bad thing! :-)

"...On balance, it’s hard to overlook the combination of cheapness, quality and growth on offer here."

[arja] 02/1/2024 14:46

unusual to see PSH in negative territory and must be affected by bearish market . I doubt it has topped out but might one day

[arja] 29/12/2023 09:51

keeps hitting new ATHs and just how long is that piece of string :)

[donald pond] 29/12/2023 09:34

I think the discount is because of the fees. The fee disclosure rules mean that IFAs are always looking for the lowest fees. If you separate out performance and fees you get odd results. The best outcome is outperformance with low fees. The worst is underperforming with high fees. If you avoid expensive trusts you avoid that risk of the worst outcome and if you use trackers you increase the chances of the best. But in reality all that matters is performance after fees. And that's where PSH excels.

[jellypbean] 28/12/2023 20:10

IMO it is on a wide discount partly because it is marketed in line with what motivates the folks who work there (go-getting Americans), whereas if made more of a focus on Buffet rule #1 (where it excels), then it would likely get more attention from risk averse Brits.

Mind you if the long term play is to get listed in the US, then perhaps it just a matter of waiting (and benefitting from the buy backs at a discount in the interim).

[riverman77] 28/12/2023 16:32

The 5y share price return is 236% - absolutely superb performance and no idea why this still on such a wide discount.

[srichardson8] 28/12/2023 16:20

'PSH NAV per share as of close of business on 26 December 2023 was 65.12 USD / 51.26 GBP and year-to-date performance was 26.8%' (today's release)

By my reckoning that's 8.2% up in sterling terms since 21st November. Yet the stock remains at a discount to net asset value of 30% even after a near 14% gain in the stock price over the past month.

I for one would have danced all night with that record in a full portfolio; but at least I can do a little hop. Just brilliant and long may it last.

[arja] 27/12/2023 08:50

no overhead resistance apple53 . In other words it keeps reaching all time high and hence no barrier in way of going higher although of course there will be pullbacks on profit taking .

[apple53] 25/12/2023 11:58

Hi arja

What do you mean by Nor?

[arja] 24/12/2023 21:02

yes . PSH still a NOR situation and more in it I reckon .

[rickyl1] 22/12/2023 14:02

Well a nice end to pre Christmas session and a great year for PSH.To all on here...Merry Christmas and Happy New Year from me to you and your families.

[arja] 19/12/2023 13:50

PSH has run out of steam and now pulling back - possibly only a temporary phenomenon

[arja] 14/12/2023 09:36

i suppose the expression " how long is a piece of string " is appropriate for PSH and nice to see it has broken 3400 decisively

[donald pond] 14/12/2023 09:03

Bill was saying on a recent podcast that he had big bets on interest rates coming down quickly. Wonder how much that has made?

[arja] 14/12/2023 08:48

as a trader using charts PSH is not an ideal stock as it is NOR situation and has no target to aim for :) . So I might use BHR policy today as PSH is doing ok in a very bullish market .