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Share Name Share Symbol Market Type Share ISIN Share Description
Pershing Square Holdings Ltd LSE:PSH London Ordinary Share GG00BPFJTF46 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  80.00 3.39% 2,440.00 489,481 16:35:11
Bid Price Offer Price High Price Low Price Open Price
2,415.00 2,420.00 2,455.00 2,345.00 2,350.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 1,644.77 737.45 3.3 5,285
Last Trade Time Trade Type Trade Size Trade Price Currency
17:09:52 O 4,768 2,419.375 GBX

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Date Time Title Posts
27/11/202013:38PSH trust122
29/3/200608:24PSH with Charts & News6
27/3/200616:29Why?88
16/12/200517:43A Pearl Amongst the Tiddlers ......35

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Pershing Square (PSH) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
17:09:522,419.384,768115,355.80O
16:57:382,440.001,78943,651.60O
16:57:002,420.431533,703.26O
16:56:592,422.588,000193,806.24O
16:55:342,440.3146011,225.40O
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Pershing Square (PSH) Top Chat Posts

DateSubject
27/11/2020
08:20
Pershing Square Daily Update: Pershing Square Holdings Ltd is listed in the General Financial sector of the London Stock Exchange with ticker PSH. The last closing price for Pershing Square was 2,360p.
Pershing Square Holdings Ltd has a 4 week average price of 2,060p and a 12 week average price of 1,936p.
The 1 year high share price is 2,455p while the 1 year low share price is currently 1,124p.
There are currently 216,616,094 shares in issue and the average daily traded volume is 194,488 shares. The market capitalisation of Pershing Square Holdings Ltd is £5,285,432,693.60.
26/11/2020
22:02
rambutan2: Shares close at 2350p on the bid. PSH NAV per share as of close of business on 24 November 2020 was 43.00 USD / 32.19 GBP and year-to-date performance was 60.7%.
29/8/2020
11:41
rickyl1: Superb. The future of PSH is indeed bright. It's a huge part of my portfolio and will remain so for the long term, roll on ftse100 inclusion.
28/8/2020
19:59
ceaserxzy: Does psh have a chance of being promoted next week? Advfn put it at a market cap of over £4.4 b, which seems to be based on its fully diluted No. of shares of about 199, 000, 000 plus about 18, 000, 000 treasury shares.
06/6/2020
11:13
thruxie: Yes agreed a number of different sites have varying valuations. The following link seems pretty useful as it lists the FTSE all share rankings by cap, PSH is 99th currently and needs to gain approximately 300 million market cap for automatic inclusion. Very achievable in my opinion, it's a matter of when not if. :) hxxp://www.stockchallenge.co.uk/ftse.php
28/5/2020
06:25
ceaserxzy: Weekly NAV released. "PSH NAV per share as of close of business on 26 May 2020 was 34.07 USD / 27.63 GBP and year-to-date performance was 26.8%." This should be north of £20 even at a big discount of 20%.
26/5/2020
10:50
thruxie: If and when this gets into the FTSE 100 it will surely fly, just narrowing the 30+% discount to NAV means it's got plenty more share price growth potential. It must be getting close to inclusion?
07/4/2020
08:54
davebowler: Liberum; Pershing Square Holdings Record year for NAV performance in 2019 Mkt Cap £3,031m | Prem/(disc) -36.1% | Div yield 2.3% Event Pershing Square Holdings delivered a NAV total return of 58.1% during 2019, the highest return generated by the manager since inception of the strategy in 2004. This compared to the S&P 500, which increased 31.5% over the same period. From 1 January to 31 March 2020, the company's NAV has increased 3.3% compared to a 19.6% decline in the S&P 500. NAV performance in 2019 was driven by particularly strong share price performance from Chipotle (+93.9%) and Hilton (+55.5%), which were both relatively large positions in the portfolio. During the year, PSH made new investments in Agilent Technologies and Berkshire Hathaway and exited its positions in Automatic Data Processing, Platform Specialty Products and United Technologies. It also exited its position in Starbucks in January 2020, although has since made a new investment in the company following the decline in share price caused by the outbreak of Covid-19. Over the course of 2019 the company approved share buyback programmes totalling $300m. An additional $100m buyback programme has been announced today. During the year $174m of shares were repurchased at an average discount to NAV of 28%, which contributed 1.9% to NAV accretion. In total, since 2017 PSH has repurchased $671m of shares and the manager has purchased a further $540m, reducing the free float by 32.9% since IPO. Following the outbreak of coronavirus in 2020, the manager made the decision to enter into hedging transactions in early March. Two weeks later the company unwound these hedges, generating proceeds of $2.1bn for the fund. These proceeds have been largely redeployed, adding to its investments in Agilent, Berkshire Hathaway, Hilton, Lowe’s and Restaurant Brands. The company currently has c.18% in cash. Liberum view 2019 represented a record year of returns for PSH and this out-performance vs the S&P 500 has continued in 2020 to-date. The hedging strategy, in the form of credit protection on global investment grade and high yield credit indices, contributed 37.7% to NAV growth in the two weeks they were held. A large proportion of the net proceeds from the sale of the hedges were used to invest $432m in a secondary share offering by Howard Hughes. Management and its affiliates have been purchasing shares during the year and now own more than 22% of the total shares outstanding, ensuring alignment of interests with shareholders. Despite the strong performance of the fund, substantial buybacks and introduction of a dividend, PSH continues to trade on a 36.1% discount to NAV, which we believe is attractive.
17/3/2020
21:45
rambutan2: Perhaps a small slice of humble pie from AGT: While our investment in Pershing Square Holdings (PSH) detracted 41bps from returns over February, a month-end NAV almost 4% higher than expected surprised the market. The company later confirmed they have put on hedges against the impact of the Coronavirus, which they expect to have a “substantial negative impact on the US and global economies”. The subsequent NAV – as at 9th March - showed a very material positive impact from these hedges that we estimate to be in the region of +26%. As at the date of this last published NAV, PSH’s NAV was up +2.8% over 2020 vs a 14.7% decline from the S&P 500 despite its portfolio companies underperforming the index over that period. One of the criticisms levelled at PSH despite its very strong NAV performance in 2019 was that investors are paying “hedge fund” fees (1.5% of NAV plus 16% of absolute gains) for a long-only portfolio. This line of attack now looks far less valid and, if management can continue to successfully navigate this market sell-off, we would expect to see PSH’s discount – which we already felt unjustifiable, notwithstanding certain corporate governance concerns – narrow in response to changed perceptions. htTps://www.aviglobal.co.uk/content/uploads/2020/03/AVI-Global-Trust-2020-FEB.pdf
10/3/2020
11:30
rambutan2: Take a bow Bill! PSH NAV per share as of close of business on 9 March 2020 was 27.70 USD / 21.13 GBP and its year-to-date performance was 2.8%. PSH also released the following communication to shareholders from the investment manager: Dear PSH Shareholder, We are reporting our NAV today so that shareholders are informed of the materially positive impact on NAV of various hedges that we previously acquired to protect the portfolio from downward market volatility. As we explained in our March 3, 2020 communication, we have acquired large notional hedges with asymmetric payoff characteristics which will help to mitigate portfolio losses in severe market declines, while reducing the portfolio's upside potential if markets recover. While recent market declines have caused the market values of our portfolio companies to decline substantially, the increased value of our hedges has more than compensated for these losses as you will note from today's reported results. We expect the capital markets and our portfolio to continue to be volatile. If markets recover, our hedges will become less valuable, and our portfolio companies will likely rise in value. Despite recent market declines, we believe that equity and credit markets have not sufficiently discounted the economic risks of coronavirus. The NAV released today will be the only NAV provided this week. We will go back to our normal NAV and performance reporting schedule next week by reporting PSH NAV and performance as of Tuesday night's close on Wednesday evening.
05/3/2020
03:16
rambutan2: Sensible, imho: 3 March 2020 4:20 PM EST Pershing Square Holdings, Ltd. Releases Communication to Shareholders LONDON–(BUSINESS WIRE)– Regulatory News: Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) (“PSH”) today released the following communication to shareholders from the investment manager: Dear PSH Shareholder, During the past ten days, we have taken steps to protect the portfolio from downward market volatility. We have done so because we believe that efforts to contain the coronavirus are likely to have a substantial negative impact on the U.S. and global economies, and on equity and credit markets. Our approach to address this concern has been to acquire large notional hedges which have asymmetric payoff characteristics; that is, the risk of loss from these hedges is limited, while their potential upside is many multiples of our capital at risk. These hedges will likely mitigate portfolio losses in severe market declines, while also somewhat reduce the portfolio’s upside potential if there is minimal economic or market impact from the virus. We believe this approach to hedging is preferable to that of selling our portfolio of high quality, conservatively financed companies whose long-term intrinsic value is not likely to be materially affected by coronavirus developments. Our approach to disclosure is to provide you with the information we would want if our positions were reversed, that is, if you were the investment manager and we the shareholder. We do not share information, however, which we believe could create a competitive disadvantage for PSH. For this reason, we do not intend to update you as to the specific details of our hedges, nor the timing of increases or decreases in the size of the program. Sincerely, William A. Ackman htTps://www.pershingsquareholdings.com/press-releases/
Pershing Square share price data is direct from the London Stock Exchange
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