Pershing Square Inc. released its first public earnings report. Fee-based growth is strong, but the stock looks overvalued above $40. PS's core funds - PSH, PSUS, and HHH - employ a high-growth, large-cap equity strategy largely in tech and real estate, with recent additions in financials. PSUS now merits a Buy rating due to its quality portfolio and 22% NAV discount.
It's been a month since Pershing Square USA (NYSE:PSUS) and Pershing Square (NYSE:PS), the new plays led by star hedge fund manager Bill Ackman, went live on the public markets.
Barry Ritholtz has watched this movie before, and he knows how it ends. On Bloomberg's Masters in Business “At The Money” segment, the Ritholtz Wealth Management founder issued a plain warning to retail investors about the parade of private credit and private equity products now being repackaged for Main Street: the smart money is looking for a door, and you are being positioned as the door.
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| DMC Dana M. Capozzella CASCADE INVESTMENT GROUP Inc. | 11,294 | $466,442.2 | $417,765.06 | -$48,677.14 | -10.44% |
| NA Nizar Araji National Bank Of Canada /FI/ | 672 | $27,753.6 | $25,327.68 | -$2,425.92 | -8.74% |
| ASP Alan S. Parsow Elkhorn Partners Limited Partnership | 1,000 | $41,300 | $37,550.1 | -$3,749.9 | -9.08% |
| IH Isaac Haas Hbk Investments LP | 200,000 | $8.26M | $7.56M | -$698,000 | -8.45% |
| MEM Margaret E. Moloney Independent Investors Inc | 20,000 | $826,000 | $751,400 | -$74,600 | -9.03% |
| NYSE Exchange | US Country |