Pershing Square Investor Presentation Deck
Record Outperformance in 2020
70.2%
2020 PSH Net Return vs. Benchmark Indices
PSH
18.4%
16.5%
S&P 500
HFRX Equity Hedge
Fund Index²
PSH Outperformance
5,180 bps
5,370 bps
5,210 bps
6,560 bps
Past performance is not necessarily indicative of future results. All investments involve the possibility of profit and the risk of loss, including the loss of principal. Please see
the additional disclaimers and notes to performance results at the end of this presentation.
(1) HFRX ED: Activist Index constructed and maintained by Hedge Fund Research, Inc. Hedge funds included in the index primarily employ activist strategies.
MSCI World
18.1%
17
4.6%
HFRX ED: Activist
Fund Index¹
(2) HFRX Equity Hedge Index constructed and maintained by Hedge Fund Research, Inc. Hedge funds included in the index maintain lo ng and short positions in primarily
equity and equity derivative securities and employ a broad range of fundamental and quantitative techniques in their investment process.View entire presentation