ClaimsPeople

Bill Ackman

Bill Ackman is a hedge fund manager and the founder and CEO of Pershing Square Capital Management, which has a fund listed on Euronext Amsterdam.

865 claims collected, 272 researched, 99 resolved. Report of 4 November 2026, method 0.1.0+c876030c.

Scores by kind of claim

Each kind of claim is scored on its own, out of 100: the share that held up, with the range it likely falls in. Fewer resolved claims give a wider range.

  • Factual claims

    Statements about the present or the past, checked against the record: did they hold up?

    76 70 81

    High confidence, 82 factual claims resolved. From 16 documents, 2011 to 2026; 19 documents sampled from 36 candidates found.

    Not scored: 48 unresolvable, 28 checkable only against their own records.

  • Predictions

    Statements about events outside the person's control, checked once they fell due: did they come true?

    68 54 82

    Low confidence, 14 predictions resolved. From 7 documents, 2014 to 2024; 19 documents sampled from 36 candidates found.

    Not scored: 81 unresolvable. 8 more fall due later.

    Does not yet allow for how likely each prediction was when made.

  • Promises

    Commitments to the person's or organisation's own future action, with something to deliver: was it delivered?

    Insufficient record: 3 promises resolved, 5 needed for a score.

    Not scored: 6 unresolvable, 1 not yet due, 1 checkable only against their own records.

All types combined: 74 (likely 69 to 80, high confidence), from 96 claims: 82 factual claims, 14 predictions. It mixes kinds of claim in different proportions for different people, so compare people kind by kind.

Bill Ackman's claims

865 claims, sorted by newest said. Choose a claim to read it in full.
VerdictKindSaidClaimTopic
Not checkable Not checkable 2024 Thank you to all for an incredible 20 years. Not checkable · 2024
Not checkable Not checkable 2024 Our hedging program has enabled to us to be comfortable remaining fully invested even during periods of market turmoil. Not checkable · 2024
Not researched Factual 2024 In 2023 Pershing Square's portfolio companies continued to generate strong growth in revenues, profits and shareholder value despite wars and higher interest rates. Factual · 2024 Economics and markets
Not checkable Not checkable 2024 With the benefit of the newly modified VPF arrangement, our long-term goal is to reduce PSH's performance fees to zero with the launch of… Not checkable · 2024
Not researched Factual 2024 In 2023 Pershing Square added Alphabet to its portfolio and exited Lowe's. Factual · 2024 Their own work or organisation
Not checkable Not checkable 2024 In retrospect, we should have invested more and achieved even greater profits without risking materially more capital. Not checkable · 2024
Not checkable Not checkable 2024 While we fret about the world around us, we are well positioned for uncertainty. Not checkable · 2024
Not researched Factual 2024 PSH's long-term bond leverage has a 3.1% weighted average cost and eight-year weighted-average term. Factual · 2024 Their own work or organisation
Mostly true Factual 2024 Pershing Square's NAV returns compounded at 25.3% over the last six calendar years, 1,320 bps per year above the S&P 500's total return. Factual · 2024 Their own work or organisation
Not checkable Not checkable 2024 We are incredibly grateful for the opportunity you have given us to be a long-term steward of your investment capital. Not checkable · 2024
Not checkable Not checkable 2024 David O'Reilly of Howard Hughes Holdings (HHH, Financial) (who has not yet reached iconic status but is on his way based on his progress to… Not checkable · 2024
Not checkable Not checkable 2024 While the CEOs get most of the shoutouts, the rest of the team members ultimately do the work required to deliver the results. Not checkable · 2024
Mostly true Factual 2024 PSH's stock currently trades at a 26.3% discount to NAV. Factual · 2024 Their own work or organisation
Resolved true Factual 2024 Day One Investors in Pershing Square grew their equity at a 16.5% compounded annual rate over 20 years versus 10.0% for the S&P 500. Factual · 2024 Their own work or organisation
Mostly true Factual 2024 Pershing Square continues to maintain an energy-related hedge against a large rise in energy prices. Factual · 2024 Their own work or organisation
Not researched Factual 2024 In October 2023 Pershing Square sold its 30-year USD interest-rate swaptions at a 33% premium above cost. Factual · 2024 Their own work or organisation
Not researched Factual 2024 In 2023 Pershing Square's hedges generated 187 bps of losses, from an energy hedge (-108bps) and Japanese swaptions (-141bps), partly offset by USD swaption gains (+92bps). Factual · 2024 Their own work or organisation
Unresolvable Prediction 2024 Pershing Square's asymmetric investments could become an even more important contributor to returns over time. Prediction · 2024 Their own work or organisation
Not researched Factual 2024 Canadian Pacific completed its acquisition of Kansas City Southern in December 2021, creating the first Trans-North American railroad, under CEO Keith Creel. Factual · 2024 Economics and markets
Not researched Factual 2024 PSH's 2023 total shareholder return was 36.0%, as its discount to NAV narrowed by 4.5 points from 33.2% to 28.7%. Factual · 2024 Their own work or organisation
Not checkable Not checkable 2024 There are few firms in our industry who make it past a decade, let alone more than 20 years. Not checkable · 2024
Not checkable Not checkable 2024 These two executives run two of the most important companies in the country, critical for our unique housing finance system to remain… Not checkable · 2024
Not checkable Not checkable 2024 2023 was another excellent year for our portfolio companies and their stock price performances. Not checkable · 2024
Not checkable Not checkable 2024 This outcome is not guaranteed every year, but it is certainly intentional. Not checkable · 2024
Mostly true Factual 2024 SPARC has no underwriting fees, shareholder warrants or founder stock, and has 10 years to execute a deal. Factual · 2024 Their own work or organisation
Not checkable Not checkable 2024 2024 will likely be no different with the upcoming U.S. presidential election, unresolved wars in Ukraine and the Middle East, and… Not checkable · 2024
Own records only Factual 2024 Pershing Square has 40 employees. Factual · 2024 Their own work or organisation
Not checkable Not checkable 2024 we can't promise to identify and execute attractive hedges for all future risks. Not checkable · 2024
Not researched Factual 2024 Using PSH's stock price return, Day One Investors earned a 15.0% compounded return, a 17-times multiple. Factual · 2024 Their own work or organisation
Not checkable Not checkable 2024 An investment manager who markets itself as a long-term owner of businesses, but who is constantly buying and selling new securities is… Not checkable · 2024
Not checkable Not checkable 2024 Our experience with our new dedicated effort has been favorable. Not checkable · 2024
Not checkable Not checkable 2024 Pershing Square manages to be a highly diverse, meritocratic, and inclusive culture for all of our employees. Not checkable · 2024
Not checkable Not checkable 2024 Marvin Ellison of Lowe's (who has executed a brilliant turnaround on a rapid path to catch Lowe's direct competitor) Not checkable · 2024
Unresolvable Prediction 2024 Reducing PSH's performance fees will produce higher returns, lower fees on the KID document and make PSH a more attractive investment. Prediction · 2024 Their own work or organisation
Not checkable Not checkable 2024 Our principal goal in initiating and maintaining hedges is to reduce the overall risk of a permanent loss of capital, and to create… Not checkable · 2024
Not checkable Not checkable 2024 Thank you for your confidence and support. Not checkable · 2024
Not checkable Not checkable 2024 Our strategy is to acquire large minority stakes in the highest quality, durable growth companies in the world, generally at times when a… Not checkable · 2024
Not checkable Not checkable 2024 We should all be incredibly appreciative for their important work on our nation's behalf. Not checkable · 2024
Not checkable Not checkable 2024 Sir Lucian Grainge of UMG (who has navigated every music format and technological threat to the industry with aplomb and can only be… Not checkable · 2024
Not checkable Not checkable 2024 We are well known for our tenacity, for keeping our word, and for doing the right thing. Not checkable · 2024
Not researched Factual 2024 Pershing Square recently announced a number of steps intended to help close PSH's discount to NAV. Factual · 2024 Their own work or organisation
Not checkable Not checkable 2024 While our strategy of identifying asymmetric investments has existed since the inception of Pershing Square, it could be best described as… Not checkable · 2024
Not checkable Not checkable 2024 Our strong preference is for PSH's shares to trade at or around intrinsic value for which we believe NAV per share is a conservative… Not checkable · 2024
Not checkable Not checkable 2024 Chris Nassetta of Hilton (HLT, Financial) for whom words do not do justice Not checkable · 2024
Not checkable Not checkable 2024 are underpaid because both companies remain wards of the state Not checkable · 2024
Not checkable Not checkable 2024 We believe that SPARC is the most efficient and certain way for a private business to go public, with the benefit of Pershing Square as an… Not checkable · 2024
Not checkable Not checkable 2024 We would not have achieved our success without their transformative contributions. Not checkable · 2024
Mixed Factual 2024 Pershing Square has not made an activist investment in nearly eight years. Factual · 2024 Their own work or organisation
Not checkable Not checkable 2024 Priscilla Almodovar and Michael DeVito, whom we have never met, get no recognition Not checkable · 2024
Unresolvable Factual 2024 Cumulative total NAV return since inception is 2,078% versus 592% for the S&P 500. Factual · 2024 Their own work or organisation
Not checkable Not checkable 2024 Volatility is the friend of the long-term investor with permanent capital. Not checkable · 2024
Not checkable Not checkable 28 Sep 2022 Thank you. Withdrawn. Not checkable · 28 Sep 2022
Not checkable Not checkable 24 Sep 2022 We are all lucky to have lived during the @rogerfederer era, one of the greatest athletes ever and a wonderful human being. Not checkable · 24 Sep 2022
Not checkable Not checkable 23 Sep 2022 The @federalreserve can only reduce demand by raising rates, a very blunt tool. Not checkable · 23 Sep 2022
Not checkable Not checkable 23 Sep 2022 Why don’t we reduce the @federalreserve need to raise rates by expanding immigration now? Not checkable · 23 Sep 2022
Not checkable Not checkable 23 Sep 2022 Inflation can be mitigated by reducing demand and/or by increasing supply. Not checkable · 23 Sep 2022
Not checkable Not checkable 13 Sep 2022 Let’s hope it happens and the war is resolved without further escalation by Russia. Not checkable · 13 Sep 2022
Not checkable Not checkable 13 Sep 2022 A very thoughtful analysis worth a careful read. Not checkable · 13 Sep 2022
Not checkable Not checkable 13 Sep 2022 This was clearly a variant view on Feb. 25th. Not checkable · 13 Sep 2022
Not checkable Not checkable 8 Sep 2022 Imagine if boxers had 5-hour bouts, and then get one day off before they must box again. Not checkable · 8 Sep 2022
Not checkable Not checkable 8 Sep 2022 Alcaraz/Sinner. An absolutely incredible match but why should players be required to play until 3am, let alone in an individual sport? Not checkable · 8 Sep 2022
Not checkable Not checkable 26 Aug 2022 This is an important first step in transforming tennis so all pro players can make a good living, attracting more diverse players, making… Not checkable · 26 Aug 2022
Not checkable Not checkable 22 Aug 2022 The ‘evidence’ the Russians are using to blame Ukraine. Not checkable · 22 Aug 2022
Unresolvable Factual 4 Aug 2022 Discover was still providing payment services to MindGeek as of 4 August 2022, despite Visa and Mastercard suspending theirs. Factual · 4 Aug 2022 Other
Not checkable Not checkable 4 Aug 2022 If you have been victimized by PornHub, MindGeek or other affiliated sites, you may be eligible for a large amount of compensation for your… Not checkable · 4 Aug 2022
Unresolvable Factual 2 Aug 2022 Visa CEO Al Kelly had not been willing to appear on camera to address the allegations as of 2 August 2022. Factual · 2 Aug 2022 Other
Resolved false Factual 2 Aug 2022 As of 2 August 2022, Visa had not responded publicly to the allegations about facilitating child trafficking on MindGeek/PornHub sites. Factual · 2 Aug 2022 Other
Unresolvable Promise 1 Aug 2022 Bill Ackman will appear on CNBC at 8:20am on 2 August 2022 to discuss what he called Visa's continued facilitation of child trafficking on PornHub and affiliated sites. Promise · 1 Aug 2022 Their own work or organisation
Mixed Factual 31 Jul 2022 The Pershing Square Foundation is not involved in this case but has supported organizations working to stop human trafficking and image-based abuse. Factual · 31 Jul 2022 Their own work or organisation
Not checkable Not checkable 31 Jul 2022 We should not forget who the real heroes are, the victims who have the courage to come forward, in this case, Serena Fleites, and the real… Not checkable · 31 Jul 2022
Own records only Factual 30 Jul 2022 Bill Ackman and his firm have no economic interest, long or short, in Visa, Mastercard, PayPal, Amex or any other payments company, processing company, bank or financial institution. Factual · 30 Jul 2022 Their own work or organisation
Not checkable Not checkable 30 Jul 2022 Both are culpable. Not checkable · 30 Jul 2022
Mostly true Factual 29 Jul 2022 Bond and stock markets rallied substantially after Powell said on Wednesday that Fed rates were at neutral (2.25–2.5%). Factual · 29 Jul 2022 Economics and markets
Not checkable Not checkable 29 Jul 2022 The tech is broken. Not checkable · 29 Jul 2022
Not checkable Not checkable 29 Jul 2022 It is an embarrassment and it should end now. Not checkable · 29 Jul 2022
Not checkable Not checkable 29 Jul 2022 It does not help small businesses, pension funds, other investors in hedge funds or private equity and everyone in the industry knows it. Not checkable · 29 Jul 2022
Not checkable Not checkable 29 Jul 2022 It is a great book with an inside look at how central bank sausage is made. Not checkable · 29 Jul 2022
Not checkable Not checkable 29 Jul 2022 And I should have made clear, it is bad for America. Not checkable · 29 Jul 2022
Unresolvable Factual 29 Jul 2022 The Big Four accounting firms are not directly exposed to gas or food inflation. Factual · 29 Jul 2022 Economics and markets
Not checkable Not checkable 29 Jul 2022 Neutral is to rate as transitory is to inflation @federalreserve Not checkable · 29 Jul 2022
Not checkable Not checkable 29 Jul 2022 The carried interest loophole is a stain on the tax code. Not checkable · 29 Jul 2022
Unresolvable Factual 27 Jul 2022 Since the close on 14 June 2022, 2-year, 10-year and 30-year Treasury rates were down 36, 70 and 41 basis points respectively as of 27 July 2022. Factual · 27 Jul 2022 Economics and markets
Not checkable Not checkable 26 Jul 2022 A very thoughtful and good summary of the Fed/rates/inflation state of play. Not checkable · 26 Jul 2022
Not checkable Not checkable 26 Jul 2022 Every headline is about soaring inflation. Not checkable · 26 Jul 2022
Not checkable Not checkable 21 Jul 2022 I couldn’t agree more. Very well said. Not checkable · 21 Jul 2022
Mostly true Factual 14 Jul 2022 Ackman said that in response to the June 2022 CPI print, short-term fed funds futures moved upward, implying a peak fed funds rate of 3.68% by December 2022, then cuts to 2.9% by January 2024. Factual · 14 Jul 2022 Economics and markets
Resolved true Factual 5 Jul 2022 There had been 309 mass shootings in the US year-to-date as of 5 July 2022, about 12 per week. Factual · 5 Jul 2022 Other
Not checkable Not checkable 5 Jul 2022 The trend is not our friend. Not checkable · 5 Jul 2022
Not checkable Not checkable 4 Jul 2022 Friday’s move was particularly stunning for the scale of the move and for the degree of intraday volatility. Not checkable · 4 Jul 2022
Resolved true Factual 4 Jul 2022 Interest rates declined dramatically over the two weeks before 4 July 2022. Factual · 4 Jul 2022 Economics and markets
Own records only Factual 26 Jan 2022 To fund the Netflix purchase, Pershing Square unwound the substantial majority of its interest rate hedge over several days, generating proceeds of $1.25 billion. Factual · 26 Jan 2022 Economics and markets
Not checkable Not checkable 26 Jan 2022 We invest in hedges not to protect the funds from a short-term mark-to-market loss, but rather because they can become a large source of… Not checkable · 26 Jan 2022
Not checkable Not checkable 26 Jan 2022 We are pleased to add Netflix to our portfolio. Not checkable · 26 Jan 2022
Not checkable Not checkable 26 Jan 2022 we believed the opportunity to invest in Netflix at current prices offered a more compelling risk/reward and likely greater, long-term… Not checkable · 26 Jan 2022
Not checkable Not checkable 26 Jan 2022 Many of our best investments have emerged when other investors whose time horizons are short term, discard great companies at prices that… Not checkable · 26 Jan 2022
Not checkable Not checkable 26 Jan 2022 its subscription-based, highly recurring revenues, which have enormous future growth potential Not checkable · 26 Jan 2022
Unresolvable Prediction 26 Jan 2022 Netflix's improving free cash flow profile should allow continued investment in growth and return of cash to shareholders. Prediction · 26 Jan 2022 Economics and markets
Not checkable Not checkable 26 Jan 2022 Had we not sold the hedge, we could have likely realized more gains based on the increase in rates, largely today, since our sale. Not checkable · 26 Jan 2022
Not checkable Not checkable 26 Jan 2022 Highly differentiated perspectives on future outcomes can yield attractive payoffs for investors, particularly when structured in an… Not checkable · 26 Jan 2022
Unresolvable Factual 26 Jan 2022 Pershing Square acquired more than 3.1 million shares of Netflix over several days from Friday, making it a top-20 shareholder. Factual · 26 Jan 2022 Their own work or organisation
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Bill Ackman

Open its page

Not checkable

“Thank you to all for an incredible 20 years.”

Bill Ackman 2024 Bill Ackman's Pershing Square 2023 Annual Letter: A Review (GuruFocus)

Thank you to all for an incredible 20 years.

Not checkable An opinion, value judgement or statement with nothing to check.

Cite this claim

Bill Ackman, “Thank you to all for an incredible 20 years.” (said 2024). Verdict: not checkable. Reliability API, claim c_3f1565c6357d, method 0.1.0+c876030c. https://epistacklabs.com/claims/c_3f1565c6357d

Claims without a verdict

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