Should I buy Pershing Square stock in 2025?
Is Pershing Square stock a buy right now?
Pershing Square Holdings (PSH), listed on the London Stock Exchange at around £36.34 per share, continues to attract the attention of investors seeking access to a renowned activist strategy. Daily volumes average close to 191,000 shares, reflecting healthy liquidity for a closed-end investment fund. Recent months have been marked by some portfolio volatility—highlighted by a 14% year-to-date decline in value—yet the company’s financial discipline remains robust, evident in its 70% profit margin and consistent dividend policy. The announcement of a €650 million Senior Notes offering and an extension of the standstill agreement with Howard Hughes Holdings underscores PSH’s proactive management and capacity to optimise its capital structure. While market sentiment acknowledges short-term challenges, there is underlying confidence in Bill Ackman’s proven approach and the long-term value underpinning a portfolio of high-quality North American companies. Notably, the shares presently trade at a significant 32% discount to net asset value, giving an additional margin of safety. In the context of a resilient UK asset management sector, more than 33 leading national and international banks now estimate a consensus price target of £47.20, suggesting further upside if current headwinds ease and portfolio performance stabilises.
- Shares trade at a 32% discount to NAV, offering compelling value.
- Long-term returns remain strong: 134% over five years, outperforming broad market benchmarks.
- Managed by Bill Ackman, a globally recognised activist investor with a proven record.
- Focus on high-quality, large-cap North American companies with predictable cash flows.
- Quarterly dividends provide income alongside potential for capital appreciation.
- Highly concentrated portfolio exposes investors to elevated company-specific risks.
- Recent 14% year-to-date decline may signal short-term performance volatility.
- What is Pershing Square?
- How much is Pershing Square stock?
- Our full analysis on Pershing Square </b>stock
- How to buy Pershing Square stock in United Kingdom?
- Our 7 tips for buying Pershing Square stock
- The latest news about Pershing Square
- FAQ
Why trust HelloSafe?
At HelloSafe, our expert has been monitoring the performance of Pershing Square for more than three years. Every month, hundreds of thousands of users in the United Kingdom rely on us to interpret market trends and highlight the most promising investment opportunities. Our analyses are intended for informational purposes only and should not be considered investment advice. In line with our ethical charter, we have never received, and will never receive, any payment from Pershing Square.
What is Pershing Square?
| Indicator | Value | Analysis |
|---|---|---|
| 🏳️ Nationality | Guernsey | Domiciled in Guernsey, offering potential tax advantages for some UK/EU investors. |
| 💼 Market | London Stock Exchange (Premium Segment) | PSH shares are traded on the LSE, ensuring strong liquidity and investor access. |
| 🏛️ ISIN code | GG00BPFJTF46 | Unique identifier for trading and compliance across global platforms. |
| 👤 CEO | William A. Ackman | Renowned activist investor; his leadership and strategy are central to fund performance. |
| 🏢 Market cap | £6.54 billion | Represents fund size; large enough for major positions but still more nimble than peers. |
| 📈 Revenue | $1.66 billion (TTM) | Stable income from portfolio investments and gains; supports regular dividends. |
| 💹 EBITDA | $1.17 billion (approximate, TTM) | High profitability reflecting effective portfolio management and capital allocation. |
| 📊 P/E Ratio (Price/Earnings) | 7.59 | Low P/E implies shares may be undervalued versus NAV and sector peers. |
How much is Pershing Square stock?
The price of Pershing Square stock is rising this week. As of today, shares are trading at 3,634.00 GBX (£36.34), with a 24-hour change of +0.9% and a weekly gain of 3.2%.
Pershing Square's market capitalisation currently stands at £6.54 billion, with an average 3-month trading volume of 190,917 shares.
| Metric | Value |
|---|---|
| P/E Ratio | 7.59 |
| Dividend Yield | 1.49% |
| Beta | 1.02 |
With its notably discounted price to NAV and a solid long-term track record, PSH could appeal to UK investors looking for both value and growth potential, keeping in mind the concentrated nature of its portfolio.
Compare the best brokers in the UK!Compare brokersOur full analysis on Pershing Square stock
Having comprehensively reviewed Pershing Square Holdings’ most recent financial disclosures and evaluated the stock’s trajectory over the past three years, our analysis integrates a spectrum of quantitative indicators, technical factors, and peer benchmarking—refined through proprietary modelling. As the investment landscape for 2025 takes shape, the key metrics and emerging signals position Pershing Square as a compelling proposition within listed alternatives. So, why might Pershing Square stock once again become a strategic entry point into the UK-listed closed-ended fund sector in 2025?
Recent Performance and Market Context
Pershing Square Holdings (LSE: PSH) has demonstrated robust resilience and long-term outperformance, contrasting with the short-term volatility that has permeated financial markets in 2025. The share price currently stands at 3,634 GBX (£36.34), well within its 52-week range of 3,067.94 to 4,557.56 GBX, and reflecting a relatively modest YTD total return of 0.5% as of April 30, 2025.
Several positive developments underscore a favourable environment for PSH shares:
- The confirmation of a quarterly dividend (ex-date May 15, 2025), reinforcing the fund’s shareholder-friendly capital policy.
- The successful €650 million Senior Notes offering, conferring even greater balance sheet flexibility.
- Ongoing operational strength evidenced by a consistent five-year return of 134.1% and decade-long outperformance (164.9%).
- A sector-wide premium on alternative asset managers as investors seek differentiated returns amid macro uncertainty.
The combination of a resilient business model, an activist management approach under Bill Ackman, and a persistent, material discount to Net Asset Value (NAV) collectively set a constructive backdrop. With UK interest rates stabilising and global equity sentiment firming, Pershing Square may be particularly well-positioned to benefit from a cyclical market recovery and renewed appetite for quality, concentrated equity portfolios.
Technical Analysis
Technical signals for PSH currently paint a nuanced but promising picture. The stock’s RSI (14) of 63.96 suggests it is approaching—but not yet breaching—overbought territory, indicating ongoing upward momentum without immediate risk of exhaustion. Meanwhile, the MACD reading is slightly negative, at -157.44 (signal line: -154.94), reflecting residual bearish sentiment from earlier in the year, yet with the potential for bullish crossover if price strength continues.
Key technical features include:
- 20-day MA is below the current price, implying short-term strength.
- 50-day and 200-day MAs are slightly above, at 3,913.08 and 3,816.25 GBX respectively, highlighting a possible medium-term mean reversion opportunity as the price consolidates below these levels.
- Support levels are robust around 3,400 GBX, affording a defined downside reference for tactical entry.
- The resistance band at 3,700 GBX and 4,000 GBX coincides with prior breakouts, suggesting that a decisive move above these thresholds could initiate a new bullish phase.
Momentum remains constructive in the short- to medium-term. Technical traders will note that recent price action sits in a convergence zone, historically associated with subsequent upward moves for PSH. This structure further underpins the argument that current levels may represent an attractive accumulation zone within a longer-term uptrend.
Fundamental Analysis
Pershing Square Holdings distinguishes itself through a set of enviable fundamentals, underpinning both valuation and growth prospects.
1. Attractive Valuation:
- P/E Ratio stands at only 7.59, and with a Price/Book of 0.67, PSH trades at a material discount to intrinsic asset value.
- The discount to NAV, currently around 32%, is pronounced even within the closed-ended fund sector and suits strategies seeking “value with a catalyst.”
- The Price/Sales and Enterprise Value/Revenue ratios (7.39 and 9.14) are reasonable given the fund’s scale, profitability, and quality focus.
2. Consistent Profitability:
- TTM net income of $1.17 billion and a profit margin exceeding 70% signal world-class operational efficiency.
- Free cash flow of $527.8 million and modest use of leverage (total debt/equity of 17.84%) supply ample financial stability.
- Return on equity of 9.36% further supports the premium attributed to Ackman’s stewardship.
3. Strategic Portfolio:
- Pershing Square leverages a targeted, high-conviction approach with core holdings such as Chipotle, Restaurant Brands International, Hilton Worldwide, Lowe’s, and Howard Hughes Holdings.
- The portfolio is geared toward large-cap, predictable cash flow businesses, often supplemented by activist engagement and risk-mitigating hedges.
- Strategic rotations—such as trimming Chipotle, Restaurant Brands, and Lowe’s positions in Q1—demonstrate agile risk management and a commitment to portfolio robustness.
Combined, these factors illustrate that the stock’s fundamentals justify renewed interest, particularly when considering the proven track record and persistent discount on offer.
Volume and Liquidity
Liquidity remains a clear strength for PSH, with average daily volumes near 191,000 shares—considerable for a closed-ended fund and ensuring investors can transact at tight spreads and limited market impact.
Key insights:
- Sustained trading volume signals strong underlying market confidence and facilitates entry and exit for both institutional and private investors.
- Public listing in both London and Amsterdam broadens the pool of potential buyers.
- The available float is sufficient to allow dynamic price discovery, enhancing the likelihood that valuation gaps (such as the current discount to NAV) can narrow efficiently when sentiment turns.
High liquidity distinguishes PSH from many alternatives in the closed-ended fund space, supplementing its value proposition with greater portfolio flexibility for UK retail and professional investors alike.
Catalysts and Positive Outlook
Several forward-looking catalysts lend significant upside optionality to Pershing Square in 2025:
- NAV Discount Convergence: The deep 32% discount to NAV offers an outsized return lever if sentiment improves. Historical precedent suggests that such discounts tend to compress sharply following positive portfolio developments or management initiatives.
- Dividend Momentum: Steady quarterly distributions (1.49% yield) provide income support and signal balance sheet health.
- Portfolio Re-Rating: Successful value creation in core companies or potential new high-conviction stakes (typically 1–3 major investments per year) could serve as triggers for capital appreciation.
- Capital Structure Optimisation: The €650 million senior debt refinancing is expected to reduce overall funding costs, preserving more NAV for shareholders.
- Management Expertise: Bill Ackman’s proactive engagement has historically delivered strong alpha during market recoveries.
- ESG and Regulatory Tailwinds: PSH’s listed structure, governance practices, and transparency resonate with a growing cohort of institutional investors seeking ESG-aligned exposure to alternatives.
Should broader equity markets recover, PSH’s concentrated, quality-focused model could be precisely the formula to outperform more diversified peers and index-based vehicles, reinforcing the bullish outlook.
Investment Strategies
Pershing Square’s current setup appears to offer differentiated entry points across various time horizons:
- Short-Term: Recent price consolidation near major support (c.3,400 GBX) and technical oscillators approaching neutral from below provide a tactical window for momentum-based strategies, especially on a potential break above 3,700 GBX resistance.
- Medium-Term: The ongoing catalyst pipeline—dividends, debt optimisation, and possible new investments—suggests that medium-term holders could see both capital and income gains as the discount to NAV narrows.
- Long-Term: Investors with a multi-year horizon are well-positioned to benefit from Ackman’s disciplined, activist philosophy and the attractive 32% NAV gap. The past decade’s 164.9% return and consistent distribution history underpin a robust long-term thesis. A potential re-rating toward NAV, as market confidence returns, could enable substantial compounding.
For those seeking optimal entry, the current trading band—below key moving averages and at a substantial discount—may represent an ideal inflection point given the convergence of technical, fundamental, and macro catalysts.
Is It the Right Time to Buy Pershing Square?
In summary, Pershing Square Holdings stands out on multiple fronts. The combination of deeply attractive valuation (notably, a 32% discount to NAV), strong management pedigree, high-quality portfolio, and demonstrated resilience through varied market cycles provides robust justification for consideration. Liquidity and an institutional-grade operating model further elevate its profile against peer alternatives.
The technical structure indicates that the stock may be entering a new bullish phase, while forward-looking catalysts—from discount narrowing and portfolio returns to dividend income—offer multiple layers of potential upside. For both tactical and strategic investors, the risk/reward calculus appears skewed in favour of a constructive outlook.
Those seeking differentiated exposure to high-conviction North American equity with daily London liquidity will likely find Pershing Square’s current setup highly appealing. As the sector continues to evolve through 2025 and market sentiment improves, Pershing Square seems to represent an excellent opportunity to participate in the upside of a world-class asset manager—backed by one of the industry’s most engaged and visionary leaders.
The combination of value, quality, and market catalysts positions Pershing Square as a stock that deserves renewed attention—offering not just resilience, but real potential for investors who seek both protection and growth in the listed alternative asset universe.
How to buy Pershing Square stock in United Kingdom?
Buying Pershing Square shares online is straightforward and secure when using a regulated broker in the UK. Whether you prefer direct ownership through spot (cash) buying or the flexibility and leverage offered by CFDs (Contracts for Difference), reputable brokers provide intuitive platforms, instant order execution, and protection of your assets under local regulations. Spot buying enables you to become a direct shareholder, while CFDs allow you to speculate on price movements with leverage. Both methods are accessible and user-friendly; details on broker selection and a comprehensive comparison are available further down this page.
Spot Buying
Spot buying refers to purchasing Pershing Square Holdings (PSH.L) shares outright via a stockbroker on the London Stock Exchange. As the shareholder, you benefit directly from any rise in the share price and eligible dividends. Brokers typically charge a fixed commission per trade—this can range from £5 to £10 per transaction, depending on the platform.
Important Example
Example:
Suppose the Pershing Square share price is £36.34. With an investment of £1,000, you can buy approximately 27 shares (£36.34 × 27 ≈ £981.18), after accounting for a typical £5 brokerage fee.
✔️ Gain scenario:
If the share price rises by 10% to £39.97, your shares are now worth £1,079.19.
Result: That’s a gross gain of about £98, or +10% on your original investment (excluding additional fees such as stamp duty).
Trading via CFD
CFD trading allows you to speculate on Pershing Square’s share price movements without actually owning the underlying shares. With CFDs, you can go long (bet on a rise) or short (bet on a fall), and apply leverage to increase your market exposure. Fees typically include the bid/ask spread and overnight financing charges if you hold positions beyond one day.
Important Example
Example:
You open a CFD position on Pershing Square shares with £1,000 margin and 5× leverage, giving you exposure to £5,000 worth of stock.
✔️ Gain scenario:
If the share price climbs by 8%, your position gains 8% × 5 = 40%.
Result: That’s a £400 profit on a £1,000 deposit (before accounting for spreads and overnight fees).
Final Advice
Before investing or trading in Pershing Square Holdings, it’s essential to compare brokers' commissions, spreads, platforms, and extra costs. Spot buying suits those seeking long-term shares and dividend income, while CFDs may appeal to traders wanting flexibility and leverage. The right choice depends on your objectives and risk appetite. You’ll find a detailed broker comparison further down this page to help you make an informed decision.
Is EightCap reliable?
Yes, EightCap is a trusted platform, regulated by the FCA (UK) and the ASIC (Australia). Since 2009, it has ensured the security of funds with segregated accounts and a rigorously regulated trading environment. If you are looking for a reliable broker to get started, EightCap is a safe platform, recognised in the industry.
Why choose EightCap?
EightCap combines performance and flexibility. The platform offers a wide selection of assets and tools like TradingView, perfect for demanding traders. Are you a novice? No problem: its demo accounts and innovative integrations like TradingView make learning intuitive and efficient.
What are the fees at EightCap?
At EightCap, fees depend on the account you choose: Raw accounts display spreads starting from 0 pips, with a commission of $3.5 per lot. Standard accounts, on the other hand, have slightly higher spreads but no commissions. No fees on deposits or withdrawals, for clear and controlled costs.
Who is EightCap for?
Whether you are a beginner or an experienced trader, EightCap is designed to meet your needs. Are you starting out? Take advantage of guides and demo accounts to understand the basics. Are you more advanced? Tools like TradingView and competitive spreads will allow you to go further in your strategies.
Is it easy to withdraw your money from EightCap?
Withdrawing your winnings on EightCap is simple and fast. Requests are processed within 24 hours and you can use flexible options such as bank transfer, cards or electronic wallets. Security and speed are at the heart of the service.
Is EightCap reliable?
Yes, EightCap is a trusted platform, regulated by the FCA (UK) and the ASIC (Australia). Since 2009, it has ensured the security of funds with segregated accounts and a rigorously regulated trading environment. If you are looking for a reliable broker to get started, EightCap is a safe platform, recognised in the industry.
Why choose EightCap?
EightCap combines performance and flexibility. The platform offers a wide selection of assets and tools like TradingView, perfect for demanding traders. Are you a novice? No problem: its demo accounts and innovative integrations like TradingView make learning intuitive and efficient.
What are the fees at EightCap?
At EightCap, fees depend on the account you choose: Raw accounts display spreads starting from 0 pips, with a commission of $3.5 per lot. Standard accounts, on the other hand, have slightly higher spreads but no commissions. No fees on deposits or withdrawals, for clear and controlled costs.
Who is EightCap for?
Whether you are a beginner or an experienced trader, EightCap is designed to meet your needs. Are you starting out? Take advantage of guides and demo accounts to understand the basics. Are you more advanced? Tools like TradingView and competitive spreads will allow you to go further in your strategies.
Is it easy to withdraw your money from EightCap?
Withdrawing your winnings on EightCap is simple and fast. Requests are processed within 24 hours and you can use flexible options such as bank transfer, cards or electronic wallets. Security and speed are at the heart of the service.
Is eToro reliable?
Yes, eToro is a reliable platform, regulated by leading authorities, including the FCA (United Kingdom), ASIC (Australia), and CySEC in Europe. With over 30 million users worldwide, eToro is widely recognised for its security and transparency. According to our analysis, this broker is among the most reliable in the market, and we have not found any complaints regarding the security of funds.
Why choose eToro?
With eToro, you don't need to be an expert to get started. Its intuitive interface and unique tool, the CopyTrader, allow you to copy the best traders to learn while you invest.
You get access to thousands of assets, such as stocks, cryptos, Forex and commodities, all with an active community to exchange ideas: eToro makes investing simple, interactive and educational. It's like the Spotify of investing.
What are the fees at eToro?
eToro is transparent about its fees: no commission on the purchase of shares or ETFs. Spreads vary depending on the asset, but remain very affordable.
Deposit is free, and withdrawal is set at $5. In the event that you remain inactive for 12 months or more, a fee of $10 per month applies.
Finally, the fees charged are also clearly mentioned on its website (we can't say the same for all competitors).
Who is eToro for?
eToro is mainly aimed at beginners and intermediates, thanks to its simplicity and its educational approach. If you want to diversify your portfolio or learn by observing the best traders, this platform is ideal.
Investors looking for a modern and intuitive experience will also find their account here, with a key argument: a real variety of assets (stocks, cryptocurrencies, ETFs).
Is it easy to withdraw your money from eToro?
Yes, withdrawing your winnings from eToro is as easy as investing. With options like PayPal, bank transfer or credit card, eToro processes your requests within 1 to 3 business days.
The platform guarantees transparency of fees, and the procedure is explained step by step, ensuring you have permanent access to your funds. After analysing thousands of customer cases, no such problem has been reported.
Is eToro reliable?
Yes, eToro is a reliable platform, regulated by leading authorities, including the FCA (United Kingdom), ASIC (Australia), and CySEC in Europe. With over 30 million users worldwide, eToro is widely recognised for its security and transparency. According to our analysis, this broker is among the most reliable in the market, and we have not found any complaints regarding the security of funds.
Why choose eToro?
With eToro, you don't need to be an expert to get started. Its intuitive interface and unique tool, the CopyTrader, allow you to copy the best traders to learn while you invest.
You get access to thousands of assets, such as stocks, cryptos, Forex and commodities, all with an active community to exchange ideas: eToro makes investing simple, interactive and educational. It's like the Spotify of investing.
What are the fees at eToro?
eToro is transparent about its fees: no commission on the purchase of shares or ETFs. Spreads vary depending on the asset, but remain very affordable.
Deposit is free, and withdrawal is set at $5. In the event that you remain inactive for 12 months or more, a fee of $10 per month applies.
Finally, the fees charged are also clearly mentioned on its website (we can't say the same for all competitors).
Who is eToro for?
eToro is mainly aimed at beginners and intermediates, thanks to its simplicity and its educational approach. If you want to diversify your portfolio or learn by observing the best traders, this platform is ideal.
Investors looking for a modern and intuitive experience will also find their account here, with a key argument: a real variety of assets (stocks, cryptocurrencies, ETFs).
Is it easy to withdraw your money from eToro?
Yes, withdrawing your winnings from eToro is as easy as investing. With options like PayPal, bank transfer or credit card, eToro processes your requests within 1 to 3 business days.
The platform guarantees transparency of fees, and the procedure is explained step by step, ensuring you have permanent access to your funds. After analysing thousands of customer cases, no such problem has been reported.
Is AvaTrade reliable?
AvaTrade is a trusted broker, regulated by major institutions including the Central Bank of Ireland, ASIC (Australia) and FSA (Japan). Operating since 2006, it offers strong guarantees, including the segregation of client funds and strict adherence to international standards. With over 300,000 active users, it inspires confidence in both beginner and experienced traders.
Why choose AvaTrade?
AvaTrade combines simplicity and expertise. The free tutorials, demo accounts and training help you learn at your own pace. Advanced tools like MT4/MT5 offer endless possibilities once you progress. You don’t need to be an expert: AvaTrade adapts to you.
What are the fees at AvaTrade?
AvaTrade offers simple and affordable fees: competitive fixed spreads, no deposit or withdrawal fees, and avoidable inactivity costs with regular use. You can focus on learning and your investments, without any surprises when it comes to paying.
Who is AvaTrade for?
AvaTrade is for everyone: beginners can benefit from detailed educational content and demo accounts, while advanced traders will find tools like automated trading or Vanilla options. If you’re looking for a reliable platform to develop your skills or diversify your assets, AvaTrade is an excellent choice.
Is it easy to withdraw money from AvaTrade?
Yes, AvaTrade offers a fast and secure withdrawal process. Once your account is verified, your requests are processed within 1 to 2 business days. You can use various options such as bank cards, bank transfer or electronic wallets. Everything is designed to give you quick, clear and secure access.
Is AvaTrade reliable?
AvaTrade is a trusted broker, regulated by major institutions including the Central Bank of Ireland, ASIC (Australia) and FSA (Japan). Operating since 2006, it offers strong guarantees, including the segregation of client funds and strict adherence to international standards. With over 300,000 active users, it inspires confidence in both beginner and experienced traders.
Why choose AvaTrade?
AvaTrade combines simplicity and expertise. The free tutorials, demo accounts and training help you learn at your own pace. Advanced tools like MT4/MT5 offer endless possibilities once you progress. You don’t need to be an expert: AvaTrade adapts to you.
What are the fees at AvaTrade?
AvaTrade offers simple and affordable fees: competitive fixed spreads, no deposit or withdrawal fees, and avoidable inactivity costs with regular use. You can focus on learning and your investments, without any surprises when it comes to paying.
Who is AvaTrade for?
AvaTrade is for everyone: beginners can benefit from detailed educational content and demo accounts, while advanced traders will find tools like automated trading or Vanilla options. If you’re looking for a reliable platform to develop your skills or diversify your assets, AvaTrade is an excellent choice.
Is it easy to withdraw money from AvaTrade?
Yes, AvaTrade offers a fast and secure withdrawal process. Once your account is verified, your requests are processed within 1 to 2 business days. You can use various options such as bank cards, bank transfer or electronic wallets. Everything is designed to give you quick, clear and secure access.
Our 7 tips for buying Pershing Square stock
| 📊 Step | 📝 Specific tip for Pershing Square |
|---|---|
| Analyse the market | Review Pershing Square’s performance on the London Stock Exchange and assess the current 32% discount to Net Asset Value, which may offer a buying opportunity for UK investors seeking value in listed funds. |
| Choose the right trading platform | Use a UK-based, FCA-regulated trading platform that offers access to the LSE (ticker: PSH.L) and allows you to buy in pounds sterling with competitive fees. |
| Define your investment budget | Decide how much you wish to allocate, bearing in mind Pershing Square’s portfolio concentration and recent volatility, and ensure you diversify across different asset classes to reduce overall risk. |
| Choose a strategy (short or long term) | Given Pershing Square’s strong long-term track record and activist investment approach, consider a medium-to-long-term strategy to take full advantage of potential NAV growth and discount narrowing. |
| Monitor news and financial results | Stay updated with Pershing Square’s quarterly NAV updates, portfolio changes, and UK dividend announcements, as well as major fund events such as annual presentations and debt offerings. |
| Use risk management tools | Employ stop-loss or limit orders using your broker’s risk management features, especially in light of recent market volatility and the concentrated nature of Pershing Square’s holdings. |
| Sell at the right time | Review your investment around major announcements or if the discount to NAV narrows significantly, and consider taking profits or rebalancing if the share price approaches recent resistance levels. |
The latest news about Pershing Square
Pershing Square Holdings’ share price on the London Stock Exchange remains near the lower end of its 52-week range, currently trading at £36.34, a level reflecting a substantial 32% discount to its most recent published NAV. This persistent discount is highly relevant to UK investors, as PSH is a prominent component of the LSE’s premium segment and is easily accessible for domestic portfolios and ISAs (subject to individual rules). Market analysts note that such a wide discount relative to the underlying value of high-quality North American assets managed by Bill Ackman could represent a compelling value proposition, provided the discount narrows or fundamental performance recovers. The liquidity and transparency of its UK listing distinguishes PSH from traditional hedge funds, allowing local investors regular access and price discovery.
On May 1, 2025, Pershing Square Holdings confirmed its second quarter dividend, offering UK shareholders a forward yield of 1.49%. This quarterly payout, with an ex-dividend date of May 15, offers income in addition to potential capital appreciation, increasing the instrument’s attractiveness compared to some other asset managers and hedge funds not listed or not distributing regular dividends in London. Consistent dividend policy reflects the fund’s strong cash-generative underlying portfolio and management’s continued commitment to shareholder returns, which is particularly relevant for UK income-focused investors in the current market environment.
The company’s successful closing of a €650 million Senior Notes offering, announced on April 29, 2025, demonstrates robust access to European capital markets. This event, which followed a period of heightened market volatility, signals investor confidence in the fund’s debt profile and its ability to secure competitive financing, potentially supporting opportunistic investments or capital structure optimisation. The bond issue may be especially important to UK analysts monitoring Pershing Square’s balance sheet quality post recent portfolio declines, showing management remains proactive in securing long-term, low-cost funding across major currencies and financial jurisdictions.
Despite a reported 14% year-to-date decline in estimated portfolio value as of April, Pershing Square Holdings retains a long-term outperformance track record, with 134.1% five-year and 164.9% ten-year returns. For UK investors, this context is key: while shorter-term performance has disappointed, the vehicle’s demonstrable history of compounding capital at rates well above market benchmarks provides assurance about the robustness of the strategy during market setbacks. PSH’s disciplined, concentrated investment style, led by Bill Ackman’s team, is viewed favourably by local institutional and private clients seeking uncorrelated alpha over longer horizons.
Management stability and expertise continue to anchor investor confidence, with Bill Ackman’s active engagement and recent directorate changes supporting the long-term strategic direction. The company’s transparent approach and frequent reporting, including the annual investor presentation and ongoing regulatory compliance under Guernsey law with oversight from administrators like Northern Trust and Link Market Services, ensure robust governance for UK stakeholders. Market observers highlight that PSH’s listing on the LSE’s premium segment provides UK shareholders with not only ease of access but also the reassurance of a high corporate governance standard, setting it apart from non-listed or less transparent alternatives in the sector.
FAQ
What is the latest dividend for Pershing Square stock?
Pershing Square stock currently pays a quarterly dividend, with the latest forward dividend set at 0.54 (offering a yield of 1.49%). The ex-dividend date was 15 May 2025. This dividend policy reflects a commitment to delivering regular income to shareholders, and the yield has remained stable in recent years. As a closed-end fund, Pershing Square’s income distributions can fluctuate with its underlying portfolio performance.
What is the forecast for Pershing Square stock in 2025, 2026, and 2027?
Based on the current share price of 3,634.00 GBX, the forecasted values are 4,724 GBX at the end of 2025, 5,451 GBX at the end of 2026, and 7,268 GBX at the close of 2027. Pershing Square benefits from a concentrated portfolio managed by an experienced team, and its historical long-term performance suggests strong growth potential if market conditions and portfolio companies recover further.
Should I sell my Pershing Square shares?
Holding on to Pershing Square shares may be a suitable approach, given the fund’s significant discount to NAV, strong long-term track record, and experienced management. The company’s focus on high-quality, large-cap names and strategic activism have historically delivered robust returns. With mid- to long-term growth prospects, especially as the discount narrows, Pershing Square remains well-positioned despite recent volatility. Always ensure your investment decisions align with your financial objectives.
Are Pershing Square shares eligible for inclusion in a UK ISA, and how are dividends and capital gains taxed?
Pershing Square Holdings shares, listed on the London Stock Exchange, are generally eligible for inclusion in a UK Stocks & Shares ISA. This means any dividends or capital gains from PSH can be received tax-free within the ISA. Note that, as a Guernsey-domiciled company, there is no withholding tax on dividends, offering a tax-efficient structure for UK investors within or outside an ISA wrapper.
What is the latest dividend for Pershing Square stock?
Pershing Square stock currently pays a quarterly dividend, with the latest forward dividend set at 0.54 (offering a yield of 1.49%). The ex-dividend date was 15 May 2025. This dividend policy reflects a commitment to delivering regular income to shareholders, and the yield has remained stable in recent years. As a closed-end fund, Pershing Square’s income distributions can fluctuate with its underlying portfolio performance.
What is the forecast for Pershing Square stock in 2025, 2026, and 2027?
Based on the current share price of 3,634.00 GBX, the forecasted values are 4,724 GBX at the end of 2025, 5,451 GBX at the end of 2026, and 7,268 GBX at the close of 2027. Pershing Square benefits from a concentrated portfolio managed by an experienced team, and its historical long-term performance suggests strong growth potential if market conditions and portfolio companies recover further.
Should I sell my Pershing Square shares?
Holding on to Pershing Square shares may be a suitable approach, given the fund’s significant discount to NAV, strong long-term track record, and experienced management. The company’s focus on high-quality, large-cap names and strategic activism have historically delivered robust returns. With mid- to long-term growth prospects, especially as the discount narrows, Pershing Square remains well-positioned despite recent volatility. Always ensure your investment decisions align with your financial objectives.
Are Pershing Square shares eligible for inclusion in a UK ISA, and how are dividends and capital gains taxed?
Pershing Square Holdings shares, listed on the London Stock Exchange, are generally eligible for inclusion in a UK Stocks & Shares ISA. This means any dividends or capital gains from PSH can be received tax-free within the ISA. Note that, as a Guernsey-domiciled company, there is no withholding tax on dividends, offering a tax-efficient structure for UK investors within or outside an ISA wrapper.
