Pershing Square Capital Management

The substantial majority of the Company’s portfolio is typically allocated to 8 to 12 core holdings usually comprising liquid, listed large capitalization North American companies. The Investment Manager generally focuses on high-quality businesses, which it believes have limited downside and that generate predictable, recurring cash flow, and in certain cases seeks to catalyze managerial, operating and governance changes as levers to create substantial, enduring and long-term shareholder value.

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