Ackman’s $5 Billion PSUS Fund Trades 20% Below NAV as S&P 500 Gains 14%
Updated
Updated · Yahoo Finance · Aug 16
Ackman’s $5 Billion PSUS Fund Trades 20% Below NAV as S&P 500 Gains 14%
3 articles · Updated · Yahoo Finance · Aug 16
Summary
Pershing Square USA shares have fallen into the $40 range from their $50 April IPO price, leaving Bill Ackman’s closed-end fund trading about 20% below its estimated $50.32 per-share NAV.
Ackman called the gap “frankly absurd” and, in the fund’s semiannual report, labeled the discount the biggest challenge since launch.
Pershing Square blamed technical factors from the IPO, weak marketing and limited visibility into the portfolio, saying those issues made it harder for closed-end fund investors to buy the stock.
The underperformance stands out because the S&P 500 is up nearly 14% year to date, while the more tech-heavy Nasdaq-100 has risen even more.