**Hedge Fund Launch: Pershing Square USA**
Hedge fund manager Bill Ackman’s firm, Pershing Square, launched its new fund, Pershing Square USA (NYSE: PSUS), on April 29, 2023, with an initial public offering (IPO) priced at $50 per share. As of now, the stock is trading at approximately $39 per share, a decrease of 21% since its debut, while the S&P 500 has increased by 7% over the same period. The fund started with $54 million in assets and employs a concentrated investment strategy, with its top three holdings in Microsoft, Uber, and Meta Platforms, making up 86% of the portfolio’s assets.
**Performance and Future Plans**
Since its inception, the Pershing Square hedge fund has averaged a 15.6% compound annual return, outperforming the S&P 500’s 11%. Ackman aims for the new fund to generate gross returns exceeding 20% annually. Additionally, Pershing Square plans to launch a new fund called Pershing Square Ventures, targeting investment in high-growth, pre-IPO companies, expected to debut by the end of 2026.
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