Pershing Square has not made an activist investment in nearly eight years.

Judged as of when the statement was made in 2024. Find the date of Pershing Square's most recent activist investment before then, meaning a position where it publicly sought to influence management, the board or strategy (for example a proxy contest, board seats, or a public campaign for change). True if that date is about 7.5 to 8 years before the statement and there were no later activist investments. Mostly true if the gap is about 7 to 7.5 years or slightly over 8 years. Mostly false if the gap is clearly shorter (for example about 5 to 7 years), or if a later engagement exists that most observers would call activist. False if Pershing Square made a clear activist investment within about 5 years before the statement.

Set before the research began.

1. E1 Ackman's Pershing Square loses ADP proxy battle Reuters (republished by Business Standard) · 7 November 2017

   “Activist hedge fund manager William Ackman lost his bid to win seats on the board of Automatic Data Processing Inc, according to a shareholder voting tally read at the payroll processor's annual shareholder meeting.”

2. E2 Ackman's Pershing Square loses ADP proxy battle Reuters (republished by Business Standard) · 7 November 2017

   “For three months, Ackman and ADP have traded increasingly bitter barbs through securities filings, television appearances, conference calls, webcasts and private meetings with investors.”

3. E3 Bill Ackman is done with activist short-selling, will focus on ... CNBC · 29 March 2022

   “The result is that all of our interactions with companies over the last five years have been cordial, constructive, and productive.”

4. E4 Bill Ackman: Why Permanent Capital Is an Investor's Biggest Edge - PJFP.com PJFP.com · 28 October 2026 Own record

   “His last activist campaign was launched in 2016.”

E1 and E2 (Reuters, November 2017) show a clear activist campaign: a proxy contest for board seats at ADP, after about three months of public dispute in mid-to-late 2017. E3 (2022) says interactions with companies over the previous five years were cordial, which fits ADP being the last such campaign. E4 says the last campaign began in 2016, but it is not independent and the Reuters report contradicts it. That leaves a gap of roughly 6.5 to 7.3 years from the 2024 statement, depending on its exact date, which the evidence does not give. That falls between the criteria's "clearly shorter" (mostly false) and "about 7 to 7.5 years" (mostly true) bands, so "nearly eight years" appears to be somewhat longer than the gap the evidence shows, measured from the 2017 ADP campaign [E1][E2].