Pershing Square Holdings, Ltd.

Pershing Square Holdings, Ltd. is an investment holding company structured as a closed-ended fund. The company primarily focuses on acquiring and holding significant, but non-controlling, positions in a concentrated number of large-capitalization companies. Pershing Square Holdings, Ltd.'s primary objective is to maximize its long-term compound annual rate of growth in intrinsic value per share.

The company was incorporated in the Bailiwick of Guernsey in 2012 and appointed Pershing Square Capital Management, L.P. as its investment manager. The Investment Manager, founded by William A. Ackman, is responsible for investing the company's assets and liabilities according to its investment policy. Pershing Square Holdings, Ltd. typically allocates the majority of its portfolio to 8 to 12 core holdings, primarily consisting of liquid, listed large-capitalization North American companies.

Pershing Square Holdings, Ltd. is an investment holding company structured as a closed-ended fund that focuses on acquiring and holding significant, but generally non-controlling, positions in a limited number of large-cap companies. The company's primary objective is to maximize its long-term compound annual rate of growth in intrinsic value per share. They invest in high-quality businesses with limited downside risk and predictable cash flows, often seeking to catalyze operational and governance changes to create enduring shareholder value.

Pershing Square Holdings, Ltd. prioritizes a culture of long-term value creation and responsible stewardship. They focus on acquiring and holding significant positions in high-quality, large-cap North American companies, often seeking to influence management and governance changes to enhance shareholder value. Their approach emphasizes fundamental value investing, active engagement with portfolio companies, and a commitment to ethical business practices, suggesting a culture that values integrity, transparency, and long-term thinking.

Pershing Square Holdings, Ltd. recognizes the importance of diversity, equity, and inclusion in its investment decisions and stewardship activities. The company believes that good corporate governance, including the management of sustainability risks by investee companies, mitigates risk and creates long-term value for shareholders. This includes considering the long-term impact of companies on all stakeholders and society at large, including their engagement on ESG issues such as environmental stewardship programs, community engagement, and diversity and inclusion initiatives. Pershing Square actively engages with investee companies to improve their ESG practices, including promoting diversity and inclusion, as it believes this can improve long-term shareholder value.