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Pershing Square Holdings (PSH)
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CPCC
Posted: 09 January 2025 11:49:08(UTC)
#564

Joined: 30/06/2019(UTC)
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Big boy;329437 wrote:

Just doubled up on undervalued PSH....near 35% discount.

For me LTI is to high risk and I dont gamble as now a term investor. It's strange how investors were falling over themselves to buy at large discount (greedy piggys) yet they wont go near them on a suggested discount.

Good timing BB - you've enjoyed a decent bounce since you bought
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Big boy on 09/01/2025(UTC)
Big boy
Posted: 09 January 2025 11:53:40(UTC)
#565

Joined: 20/01/2015(UTC)
Posts: 6,679
CPCC;330548 wrote:
Big boy;329437 wrote:

Just doubled up on undervalued PSH....near 35% discount.

For me LTI is to high risk and I dont gamble as now a term investor. It's strange how investors were falling over themselves to buy at large discount (greedy piggys) yet they wont go near them on a suggested discount.

Good timing BB - you've enjoyed a decent bounce since you bought


Thank you. With discount narrowing 18% from high I now rate them a HOLD only and have reduced to a standard holding.
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Johan De Silva
Posted: 09 January 2025 12:13:15(UTC)
#586

Joined: 22/07/2019(UTC)
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BB where is the official NAV?

If we cant find it I argue we don't know the discount on PSH as the data on the platform could be old.

I have a Google portfolio with a guess of the holdings based on known information. The discount according to this guesstimate data has closed 400bps so in plain English thats about 11-12% of change in the discount.

Also there are single bets Bill is making that have sky rocketed but not in my spreadsheet because I don't know where these are held... is this held in PSH:

https://www.removepaywal...r?embedded-checkout=true
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Big boy on 09/01/2025(UTC)
Raj K
Posted: 09 January 2025 12:23:40(UTC)
#587

Joined: 22/04/2016(UTC)
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Johan De Silva;330556 wrote:
BB where is the official NAV?

If we cant find it I argue we don't know the discount on PSH as the data on the platform could be old.

I have a Google portfolio with a guess of the holdings based on known information. The discount according to this guesstimate data has closed 400bps so in plain English thats about 11-12% of change in the discount.

Also there are single bets Bill is making that have sky rocketed but not in my spreadsheet because I don't know where these are held... is this held in PSH:

https://www.removepaywal...r?embedded-checkout=true


We only have the £57.22 NAV form January 7th on their website.
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Big boy on 09/01/2025(UTC)
Johan De Silva
Posted: 09 January 2025 13:15:12(UTC)
#588

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Thank RAJ, Looks like BB is spot on and my portfolio modelling is off. Odd really as my simple model is overestimating the performance!

https://pershingsquareho...asset-value-and-returns/
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Big boy on 09/01/2025(UTC)
Alanis M
Posted: 11 January 2025 08:45:12(UTC)
#589

Joined: 26/02/2018(UTC)
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Does anyone know whether the NAV updates reflect the current value of the fannie and freddie holdings? Given the amount of the increase in value of those holdings, I am surprised total NAV hasn't shot up more.

https://www.google.com/u...aw3x76vhNaPYVyaqPYuttG4P
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Sheerman on 11/01/2025(UTC)
Big boy
Posted: 11 January 2025 09:13:57(UTC)
#590

Joined: 20/01/2015(UTC)
Posts: 6,679
Alanis M;330771 wrote:
Does anyone know whether the NAV updates reflect the current value of the fannie and freddie holdings? Given the amount of the increase in value of those holdings, I am surprised total NAV hasn't shot up more.

https://www.google.com/u...aw3x76vhNaPYVyaqPYuttG4P


PSH issue regular NAVs every week. For latest NAV use latest SPs movement. I am sure many Members run live NAVs as part of their DD so will be able to provide an update at close of business.

Remember weak sterling will be helpful with NAVs and SPs..
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Johan De Silva
Posted: 11 January 2025 10:15:00(UTC)
#591

Joined: 22/07/2019(UTC)
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Big boy;330772 wrote:
Alanis M;330771 wrote:
Does anyone know whether the NAV updates reflect the current value of the fannie and freddie holdings? Given the amount of the increase in value of those holdings, I am surprised total NAV hasn't shot up more.

https://www.google.com/u...aw3x76vhNaPYVyaqPYuttG4P


PSH issue regular NAVs every week. For latest NAV use latest SPs movement. I am sure many Members run live NAVs as part of their DD so will be able to provide an update at close of business.

Remember weak sterling will be helpful with NAVs and SPs..


Clearly my own portfolio modelling is discredited and increasingly so I clearly do not hold every stock like the mentioned here. Universal Music was the highest holding by a long shot then I copied Bill Ackman 13F Portfolio.

There is no definite list is there? And he can be very active, and has shorted in the past. The stock market is looking bearish... this is an environment where PSH can be active to do good for the NAV but discounts could widen on down days.

The stronger and stronger dollar should help UK holders here.
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Big boy on 13/01/2025(UTC)
Big boy
Posted: 11 January 2025 10:30:12(UTC)
#592

Joined: 20/01/2015(UTC)
Posts: 6,679
Johan De Silva;330779 wrote:
Big boy;330772 wrote:
Alanis M;330771 wrote:
Does anyone know whether the NAV updates reflect the current value of the fannie and freddie holdings? Given the amount of the increase in value of those holdings, I am surprised total NAV hasn't shot up more.

https://www.google.com/u...aw3x76vhNaPYVyaqPYuttG4P


PSH issue regular NAVs every week. For latest NAV use latest SPs movement. I am sure many Members run live NAVs as part of their DD so will be able to provide an update at close of business.

Remember weak sterling will be helpful with NAVs and SPs..


Clearly my own portfolio modelling is discredited and increasingly so I clearly do not hold every stock like the mentioned here. Universal Music was the highest holding by a long shot then I copied Bill Ackman 13F Portfolio and moves in this stock that drove daily movements significantly in my modelling.

There is no definite list is there? And he can be very active, and has shorted in the past.



It should be fairly simple to run a live program. Many professionals will do this for own benefit and of course MMs will have live feeds.

When I was involved I attempted to fine tune the NAVs and discounts so I would buy at say 24.65% rather than the other stock at 24.50% discount.

Presume the catchment of updates from the weekly NAV should be simple to work out.

In most cases a good estimate should be fine for PIs. Most investor are not updating profit growth or interest figures each day in order to decide if a stock is cheap or dear. Sorry maybe you do.....sorry being a bit cheeky.
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Johan De Silva
Posted: 11 January 2025 10:41:18(UTC)
#593

Joined: 22/07/2019(UTC)
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Big boy;330781 wrote:
Presume the catchment of updates from the weekly NAV should be simple to work out.
Agree it's good enough, I had not come across the page on the website as normally I rely on an RNS with the NAV.

The modelling updates every couple of seconds, and now I don't need it anymore.
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Big boy on 13/01/2025(UTC)
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