In the recently released Pershing Square Annual Investor Update, Bill Ackman disclosed that PSH returned 70.2% for 2020, compared to 18.4% for the S&P500:
His biggest contribution came from Index CDS at 36.6%:
His biggest detractor was Berkshire at (3.1%):
His annual net returns have averaged 16.9% since inception, compared to 9.6% for the S&P500:
You can read the entire update here:
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