About Us
Pershing Square Holdings, Ltd.
Pershing Square Holdings, Ltd. (“PSH”, or the “Company”) (LN:PSH) (LN:PSHD) is an investment holding company structured as a closed-ended fund principally engaged in the business of acquiring and holding significant (but generally not controlling) positions in a concentrated number of large capitalization companies. PSH’s objective is to maximize its long-term compound annual rate of growth in intrinsic value per share.
PSH was incorporated with limited liability under the laws of the Bailiwick of Guernsey on February 2, 2012. It commenced operations on December 31, 2012 as a registered open-ended investment scheme, and on October 2, 2014 converted into a registered closed-ended investment scheme. Public Shares of PSH commenced trading on Euronext Amsterdam N.V. on October 13, 2014. On May 2, 2017, PSH’s Public Shares were admitted to the Official List of the UK Listing Authority and commenced trading on the Premium Segment of the Main Market of the London Stock Exchange(“LSE”). PSH delisted from Euronext Amsterdam with effect from 31 January 2025.
PSH has appointed Pershing Square Capital Management, L.P. (“PSCM,” the “Investment Manager” or “Pershing Square”),as its investment manager. PSCM was founded by William A. Ackman on January 1, 2004. The Investment Manager has responsibility, subject to the overall supervision of the Board of Directors, for the investment of PSH’s assets and liabilities in accordance with the investment policy of PSH.
The substantial majority of the Company’s portfolio is typically allocated to 8 to 12 core holdings usually comprising liquid, listed large capitalization North American companies. The Investment Manager generally focuses on high-quality businesses, which it believes have limited downside and that generate predictable, recurring cash flow, and in certain cases seeks to catalyze managerial, operating and governance changes as levers to create substantial, enduring and long-term shareholder value. The Investment Manager aims to manage risks through careful investment selection and portfolio construction, engaging in typically only one to three new core investments each year. The Investment Manager may also engage in hedging strategies to mitigate market-related downside risk or to take advantage of asymmetric profit opportunities.
Board of Directors
The Board of Pershing Square Holdings, Ltd. (the “Company”) consists of Halit Coussin, Charlotte Denton, Andrew Henton, Jean-Baptiste Wautier, and Rupert Morley. Directors other than Ms. Coussin, who is the Chief Legal Officer and Chief Compliance Officer of Pershing Square Capital Management, L.P., the Company’s Investment Manager, are independent. Mr. Morley is the Chairman of the Board. Ms. Denton is the Senior Independent Director.
The Board meets regularly throughout the year, at least on a quarterly basis, and maintains regular contact between meetings with the Investment Manager and Northern Trust International Fund Administration Services (Guernsey) Limited, the Company’s Administrator. The Directors are kept informed of investments and other matters relevant to the operation of the Company that would be expected to be brought to the Board’s attention.
Investment Manager
Pershing Square Capital Management, L.P.
Pershing Square Capital Management, L.P. (“PSCM”) is an investment adviser registered with the U.S. Securities and Exchange Commission and based in New York. PSCM was formed in 2003 under the laws of the State of Delaware in the United States.
PSCM’s registered address is as follows:
c/o Corporation Service Company
251 Little Falls Drive
Wilmington, DE 19808
PSCM Documents
PSCM Reports**
* A hard copy of PSCM’s SEC order granting registration is available upon request.
** PSCM is not required to make financial statements available for fiscal years 2017 and following.