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Pershing Square Holdings’ Q2 2026 Investor Letter

Pershing Square Holdings, an investment holding company, released its second quarter 2026 investor letter. Pershing Square is an alternative asset manager that primarily manages capital in publicly traded investment vehicles, with 98% of its capital structure dedicated to such assets, including Howard Hughes Holdings. This capital permanency allows for long-term investments, fostering sustainable competitive advantages and yielding substantial market returns since 2018. The investment...