Transcription of Annual Investor Presentation
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Annual Investor Presentation
Annual Investor PresentationFebruary 18, 2021 DisclaimerAll information provided herein is for informational purposes only and should not be deemed as a recommendation to buy or sell any security mentioned. Pershing Square Capital Management, ( Pershing Square ) believes this Presentation contains a balanced Presentation of the performance of the portfolio it manages, including a general summary of certain portfolio holdings that have both over and under performed our expectations. T his Presentation contains information and analyses relating to all of the publicly disclosed positions over 50 basis points in the portfolio of Pershing Square Holdings, Ltd. ( PSH or the Company ) during 2020. Pershing Square may currently or in the future buy, sell, cover or otherwise change the form of its investments discussed in this Presentation for any reason.
Overview of 2020 Performance 8 2020 was an outstanding year for PSH with NAV appreciation of 70.2% and a total shareholder return of 84.8%1 PSH’s discount to NAV narrowed by 5.9% from 28.9% in the beginning of 2020 to
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