Ackman has created two new sources of capital to invest in for Pershing Square. He exited several positions last quarter and used the proceeds to invest in new opportunities.
Pershing Square Inc. (PS) Q2 2026 Earnings Call Transcript
Seth Klarman's Baupost Group opened a new position in Pershing Square (NYSE:PS) during the second quarter of 2026, disclosing the purchase in a 13F filing dated August 13, 2026.
We seek to purchase our target companies at share prices that incorporate a margin of safety. We estimate that the companies in our investment portfolios have an average prospective rate of annual EPS growth of about 20% over the next three to five years. Our portfolio companies' relatively higher EPS growth rate combined with their lower current valuation relative to the S&P 500 should increase the likelihood our investment performance exceeds that of the S&P Index over the long term.
Pershing Square NYSE: PS held its first earnings call as a public company, with Chairman and CEO Bill Ackman emphasizing the firm's strategy of generating growth through the compounding value of its existing investment portfolios while selectively launching new vehicles.
The quarterly cash dividend of 12.2 cents a share is payable July 21 to shareholders of record July 13.
Bill Ackman, the investment legend who runs the show over at Pershing Square (NYSE:PS), has been quite vocal in the past month.
Pershing Square Inc. offers a stable, fee-generating business model anchored by 96% permanent capital and a strong brand around Bill Ackman. PS is positioned as a scalable, cash-generative platform, benefiting from new funds like PSUS and additional fee streams such as Howard Hughes. Valuation upside is driven by the potential to launch new permanent capital funds, with a re-rate case suggesting 25–39% share price appreciation from current levels.