Q1 2019 Pershing Square Holdings Ltd Earnings Call Transcript
Hello and welcome to the 2019 First Quarter Investor Call for Pershing Square Capital Management. (Operator Instructions) Today's call is being recorded. It is now my pleasure to turn the call over to your host, Mr. William Ackman, CEO and Portfolio Manager.
Hi. Welcome to the call. Just a reminder, we -- instead of reading our disclaimer, we make it available on our website at -- or distributed to our investors by e-mail. If you have questions during the call, please send them to [email protected]. We do encourage questions in advance of the call, and we'll answer those questions during the call either as part of the opening commentary or specifically after the discussion of the portfolio. We keep a replay of the call available for 2 weeks until May 28, and you can find that at pscmevents.com.
It's been a very good period for Pershing Square. Average return funds at anywhere between 32% and 40% year-to-date, difference between those 2 numbers largely the inherent
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