Pershing Square reports 20% gross annual returns since inception

Bill Ackman, founder of Pershing Square Capital Management, reported that his hedge fund has achieved a 20% gross annual return since its inception in 2004. The firm currently manages approximately $24 billion in assets across various funds.

Pershing Square is currently expanding its reach through public markets. The Pershing Square USA closed-end fund, which follows the firm's core strategy, has seen recent volatility, trading at approximately $39 per share after an IPO price of $50. Ackman has indicated a long-term investment approach, focusing on businesses with high potential for normalized earnings per share growth.

In recent analyst activity, Tigress Financial raised its price target for Pershing Square (NYSE: PS) from $39.00 to $41.00, maintaining a neutral rating. Other financial institutions have also adjusted their outlooks, with JonesTrading increasing its target to $42.00 and Wells Fargo raising its objective to $36.00.