Pershing Square Holdings, Ltd. is a closed-ended investment holding company that provides public investors with access to the concentrated, value-oriented strategy of Pershing Square Capital Management. The fund primarily acquires significant, though typically non-controlling, positions in a limited number of large-capitalization companies, focusing on businesses that are highly liquid and operate across diversified sectors. In addition to equities, Pershing Square Holdings can invest in debt securities, convertible instruments, and a range of derivatives, employing predominantly long positions with the ability to use short positions and hedging where appropriate. The portfolio spans public issuers in the United States and internationally, including North America and Western Europe, and is benchmarked against major equity and hedge fund indices to frame its performance. The company is domiciled in Saint Peter Port, Guernsey, and functions as a permanent capital vehicle, aiming to preserve capital while seeking long-term capital appreciation through a focused, research-driven approach to asset management.