Billionaire Bill Ackman filed for a public offering of Pershing Square on the NYSE
American billionaire Bill Ackman is moving to dual-list Pershing Square Capital Management with its PSUS closed-end fund on the NYSE.
The New York-based hedge fund is targeting a $5 billion to $10 billion capital raise, offering PSUS shares at $50 each and including Pershing Square stock as part of the deal.
Ackman says the effort is part of his plan to create a permanent capital investment structure modeled after Warren Buffett's Berkshire Hathaway.
In the year Founded Pershing Square in 2004 with $54 million, Ackman built it into a $20 billion investment firm focused on undervalued companies.
Pershing Square's IPO push comes as the fund has experienced mixed performance. It's down 10 percent in February 2026, largely due to exposure to big tech stocks like Alphabet, Meta and Amazon, which together make up about half of the portfolio.
Still, his long-term record is strong. Pershing Square has returned an estimated 34% by 2025, well ahead of the S&P 500's 18% gain, and has produced annualized returns of about 16% since inception.
More recently, the company has added positions in Amazon, Meta, and Hertz while selling longtime holdings such as Chipotle and Nike.
Beyond corporate stocks and activist campaigns, Ackman has adapted his investment philosophy to new asset classes. As of 2022, the billionaire has cautiously embraced bitcoin as a hedge to protect his crypto assets against inflation, dollar appreciation and broader economic volatility.
In the year In the 2024 statement, they described a theoretical feedback loop in which an increase in the price of Bitcoin could increase mining energy consumption, increase inflation, and weaken the dollar, which would further increase demand for Bitcoin.
Condition:
Bitcoin inflation leads to increased mining and higher energy use, higher energy prices lead to higher inflation and lower dollar value, increased demand for Bitcoin and increased mining, driving energy demand and the cycle continues.
Bitcoin…
— Bill Ackman (@BillAckman) March 9, 2024
Disclosure: This article was edited by Vivian Nguyen. See our Editorial Policy for more information on how we create and review content.
