Pershing Square Holdings Semi-Annual Letter To Shareholders
Pershing Square Holdings, Ltd. is a closed-ended investment company. Its investment objective is to preserve capital and to seek long-term capital appreciation commensurate with reasonable risk.Pershing Square Holdings generated strong performance during the first half of 2020 and year-to-date, as our NAV total return per share increased 28.9% and 44.1%6 respectively, compared with the S&P’s half-year and year-to-date total return of -3.1% and 7.9%.For nearly all of our portfolio companies, we do not believe that the coronavirus has permanently impaired their intrinsic values. In fact, in most cases, we believe the economic, behavioral, and competitive effects of the virus, coupled with our portfolio companies’ aggressive actions in response to the impact of the virus, have increased their intrinsic values.
Seekingalpha · 08/31 17:45