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.

    See the factual claims

  • 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.

    See the predictions

  • 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.

    See the promises

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 · page 6 of 9

865 claims, sorted by newest said. Choose a claim to read it in full.
VerdictKindSaidClaimTopic
Not checkable Not checkable 2022 have admired the company’s industry-leading execution and operational excellence. Not checkable · 2022
Unresolvable Prediction 2022 Risk premiums should continue to rise. Prediction · 2022 Economics and markets
Not researched Factual 2022 Pershing Square's portfolio is North American-centric, with most to all of its companies' profits generated in North America. Factual · 2022 Economics and markets
Not checkable Not checkable 2022 We believe CP is an attractive business as it operates in an oligopolistic industry where the barriers to entry are high due to… Not checkable · 2022
Mostly true Factual 2022 Pershing Square's limited activist short selling, two high-profile engagements, generated enormous media attention. Factual · 2022 Their own work or organisation
Mostly true Factual 2022 Universal Music Group is the world's leading music entertainment company. Factual · 2022 Economics and markets
Not checkable Not checkable 2022 Netflix is well positioned as the dominant market leader with several advantages relative to existing legacy media incumbents and… Not checkable · 2022
Not checkable Not checkable 2022 we believe UMG is an advantaged buyer and ideal steward for iconic catalogs. Not checkable · 2022
Unresolvable Prediction 2022 Pershing Square said it believes the SPARC structure will, over time, enable it to own large stakes in high quality, newly public businesses that meet its investment criteria. Prediction · 2022 Their own work or organisation
Unresolvable Prediction 2022 Pershing Square expects its portfolio companies to continue to compound their intrinsic values at even higher rates than before due to their currently reduced valuations. Prediction · 2022 Economics and markets
Not researched Factual 2022 Pershing Square recently sold its remaining 2020/2021 swaptions for $195 million, for cumulative proceeds of $1.45 billion from an original investment of $188 million. Factual · 2022 Economics and markets
Not yet due Prediction 2022 UMG does not need to acquire catalogs to continue its strong growth and achieve its medium-term guidance from its last Capital Markets Day. Prediction · 2022 Economics and markets
Mostly true Factual 2022 There is an unprecedented backlog in professional home improvement projects heading into 2022. Factual · 2022 Economics and markets
Unresolvable Prediction 2022 Speaking as "we", the statement said they believe CP's acquisition of KCS will be transformational for CP's rail network. Prediction · 2022 Economics and markets
Not checkable Not checkable 2022 Our renewed commitment to the core investment principles that have driven the substantial majority of our returns over time was the… Not checkable · 2022
Not researched Factual 2022 Pershing Square worked for nine months on behalf of PSTH to close the UMG transaction but was unable to resolve regulatory issues in time before the transaction deadline. Factual · 2022 Their own work or organisation
Unresolvable Prediction 2022 UMG can grow revenues at an annual rate approaching double digits for more than a decade. Prediction · 2022 Economics and markets
Mixed Promise 2022 If the SEC approves the subscription warrant listing rule and declares SPARC's registration statement effective, Pershing Square intends to distribute SPARs to PSTH shareholders and warrant holders in 2022. Promise · 2022 Their own work or organisation
Not researched Factual 2022 Pershing Square exited its original investment in Canadian Pacific (CP) in 2016 and has since closely followed the company. Factual · 2022 Their own work or organisation
Resolved true Factual 2022 Rail transportation is cheaper than trucking over longer distances. Factual · 2022 Economics and markets
Not researched Factual 2022 Year to date in 2022, PSH NAV per share has declined by 215 basis points. Factual · 2022 Economics and markets
Not researched Factual 2022 Using PSH's stock price return, Day One Investors earned a 14.5% compounded return, a 12 times multiple of their original investment. Factual · 2022 Economics and markets
Unresolvable Prediction 2022 The current geopolitical environment has increased the probability of significant North American onshoring and energy investment, which would strengthen CP's volume growth over time. Prediction · 2022 Economics and markets
Resolved true Prediction 2022 Chipotle is on track to achieve management's goal of more than $3 million in average restaurant sales. Prediction · 2022 Economics and markets
Not checkable Not checkable 2022 It is one of the highest quality businesses we own and it trades at one of the largest discounts to intrinsic value in our portfolio. Not checkable · 2022
Not researched Factual 2022 Day One Investors in Pershing Square grew their equity at a 17.1% compounded annual rate over 18 years to end-2021, versus 10.2% for the S&P 500. Factual · 2022 Economics and markets
Not checkable Not checkable 2022 As we have often stated, we believe that incentives drive all human behavior, particularly on Wall Street. Not checkable · 2022
Mixed Factual 2022 Day One Investors multiplied their equity investment by 18 times versus six times for a zero-fee S&P 500 index fund. Factual · 2022 Economics and markets
Unresolvable Prediction 2022 Pershing Square believes the businesses it owns have substantial pricing power that will enable them to cover the costs of inflation. Prediction · 2022 Economics and markets
Not checkable Not checkable 2022 We are very fortunate to have UMG as our largest position. Not checkable · 2022
Not checkable Not checkable 2022 We believe that hedging is a better alternative to keeping funds in cash while one is waiting for opportunities Not checkable · 2022
Unresolvable Prediction 2022 Deglobalization appears to be coming to the capital markets, much as the world is deglobalizing. Prediction · 2022 Economics and markets
Not researched Factual 19 Aug 2021 During Jackson's term as SEC Commissioner, the SEC declared effective more than 100 SPAC IPO registration statements and oversaw dozens of de-SPAC mergers. Factual · 19 Aug 2021 Economics and markets
Own records only Factual 19 Aug 2021 The NYSE has offered to work closely with PSTH and the SEC to accelerate the necessary rule change for SPARC warrants. Factual · 19 Aug 2021 Their own work or organisation
Mostly true Factual 19 Aug 2021 The Sponsor Warrants restrict selling, hedging or transferring for three years after the initial business combination. Factual · 19 Aug 2021 Their own work or organisation
Not researched Factual 19 Aug 2021 The Sponsor agreed to waive its right to receive Sponsor Warrants in the Universal Music Group transaction. Factual · 19 Aug 2021 Their own work or organisation
Not checkable Not checkable 19 Aug 2021 This litigation only serves to harm investors in PSTH and all other SPACs. Not checkable · 19 Aug 2021
Not checkable Not checkable 19 Aug 2021 we believe that PSTH and its highly shareholder-aligned structure provide a good example of how SPAC structures and their incentives for… Not checkable · 19 Aug 2021
Not researched Factual 19 Aug 2021 The purchase price of the Sponsor Warrants was based on fair value determined with the assistance of a nationally recognized third-party valuation firm. Factual · 19 Aug 2021 Their own work or organisation
Not checkable Not checkable 19 Aug 2021 we believe that we can address the disclosure and other issues that have been raised by the SEC staff. Not checkable · 19 Aug 2021
Unresolvable Factual 19 Aug 2021 PSTH's ability to complete a transaction in the required time frame has been impaired by the lawsuit. Factual · 19 Aug 2021 Their own work or organisation
Resolved true Factual 19 Aug 2021 Robert Jackson served as an SEC Commissioner between January 2018 and February 2020. Factual · 19 Aug 2021 Economics and markets
Mostly true Factual 19 Aug 2021 Holding cash and government securities while seeking a business combination does not make PSTH or other SPACs illegal investment companies. Factual · 19 Aug 2021 Economics and markets
Mostly true Factual 19 Aug 2021 As of August 2021, PSTH has about 11 months remaining to enter into a letter of intent for its initial business combination. Factual · 19 Aug 2021 Their own work or organisation
Mixed Promise 19 Aug 2021 PSTH shareholders will receive $20 per share in cash and one SPARC warrant per share owned, following the cash return. Promise · 19 Aug 2021 Their own work or organisation
Unresolvable Prediction 19 Aug 2021 The time needed to resolve the lawsuit will increase the likelihood that the Sponsor and Director Warrants expire worthless. Prediction · 19 Aug 2021 Their own work or organisation
Resolved true Factual 19 Aug 2021 Listing SPARC warrants on the NYSE requires an NYSE rule change subject to SEC approval, which is being pursued with the NYSE. Factual · 19 Aug 2021 Their own work or organisation
Unresolvable Prediction 19 Aug 2021 A successful claim in the lawsuit would imply that every SPAC may also be an illegal investment company. Prediction · 19 Aug 2021 Economics and markets
Resolved true Factual 19 Aug 2021 None of PSTH's directors nor its Sponsor has received or been promised any compensation of any kind. Factual · 19 Aug 2021 Their own work or organisation
Not checkable Not checkable 19 Aug 2021 In a de-SPAC merger transaction, time pressure on the sponsor is the enemy of a good deal for shareholders. Not checkable · 19 Aug 2021
Resolved true Factual 19 Aug 2021 Had the UMG transaction closed, the Pershing Square Funds would have invested $1.6 billion in PSTH units on the same terms as IPO investors. Factual · 19 Aug 2021 Their own work or organisation
Mostly true Factual 19 Aug 2021 The two law professors behind the lawsuit told the press their motivation was to reform the entire SPAC industry. Factual · 19 Aug 2021 Economics and markets
Unresolvable Prediction 19 Aug 2021 The existence of the litigation may deter potential merger partners from working with PSTH until the lawsuit is resolved. Prediction · 19 Aug 2021 Their own work or organisation
Unresolvable Prediction 19 Aug 2021 The lawsuit against PSTH is unlikely to be resolved in the short term. Prediction · 19 Aug 2021 Their own work or organisation
Not checkable Not checkable 19 Aug 2021 We have got your six. Not checkable · 19 Aug 2021
Not researched Factual 19 Aug 2021 SPARC would not hold investors' money while its sponsor looks for a target. Factual · 19 Aug 2021 Their own work or organisation
Unresolvable Prediction 19 Aug 2021 Ackman stated that "we expect" all PSTH shareholders would be highly supportive of the rule change needed to replace the Distributable Warrants with SPARC Distributable Warrants. Prediction · 19 Aug 2021 Their own work or organisation
Not checkable Not checkable 19 Aug 2021 It is not helpful in achieving SPAC market reform. Not checkable · 19 Aug 2021
Not checkable Not checkable 19 Aug 2021 As the largest SPAC ever, PSTH is an attractive target in that its scale and visibility maximize media attention for the lawsuit’s claims… Not checkable · 19 Aug 2021
Resolved true Prediction 19 Aug 2021 The Sponsor Warrants will likely be worthless if PSTH does not complete a high-quality transaction on favorable terms. Prediction · 19 Aug 2021 Their own work or organisation
Resolved true Prediction 19 Aug 2021 PSTH will secure SPARC's approval, giving a path to mitigate the harm the litigation causes shareholders and warrant holders. Prediction · 19 Aug 2021 Their own work or organisation
Unresolvable Factual 19 Aug 2021 The abandoned PSTH/UMG deal is the only SPAC business combination known to the speaker where the sponsor would have received no additional consideration versus other shareholders. Factual · 19 Aug 2021 Their own work or organisation
Not checkable Not checkable 19 Aug 2021 This eliminates the substantial opportunity cost of capital that burdens all SPAC investors. Not checkable · 19 Aug 2021
Unresolvable Promise 19 Aug 2021 If SPARC is approved by the SEC and its warrants by the NYSE and PSTH has not entered a merger, Pershing Square intends to seek PSTH shareholder approval to return the $4 billion of cash held in trust. Promise · 19 Aug 2021 Their own work or organisation
Not checkable Not checkable 19 Aug 2021 Unfortunately for them, it won’t work. Not checkable · 19 Aug 2021
Not checkable Not checkable 19 Aug 2021 We will work diligently to make rapid progress on obtaining approvals for SPARC so that we can return your cash, preserve the value of our… Not checkable · 19 Aug 2021
Mostly true Factual 19 Aug 2021 The SPARC warrants will remove the two-year "shot clock" for a sponsor to complete a transaction. Factual · 19 Aug 2021 Their own work or organisation
Not checkable Not checkable 22 Dec 2020 Congratulations Frances! A well deserved honor. Not checkable · 22 Dec 2020
Not checkable Not checkable 11 Dec 2020 Does @discovercard intend to be the exclusive payment system for pornhub or will they ban pornhub like @Mastercard and @visa? Not checkable · 11 Dec 2020
Mostly true Factual 10 Dec 2020 Visa has suspended payments to Pornhub. Factual · 10 Dec 2020 Other
Not checkable Not checkable 10 Dec 2020 Great and important work Nick Not checkable · 10 Dec 2020
Not checkable Not checkable 10 Dec 2020 Credit to @Mastercard for responsiveness. What’s up with @Visa? Not checkable · 10 Dec 2020
Not checkable Not checkable 5 Dec 2020 We could fix this problem by making it illegal for porn sites to allow content to be posted before review by a monitor, and ages and… Not checkable · 5 Dec 2020
Unresolvable Promise 19 Nov 2020 Bill Ackman will match donations to a cause dollar for dollar. Promise · 19 Nov 2020 Their own work or organisation
Mostly true Factual 17 Nov 2020 Once exposed to Covid, a person can infect and kill others. Factual · 17 Nov 2020 Biosecurity
Resolved true Factual 17 Nov 2020 As of mid-November 2020, Covid had infected 11.5 million Americans and killed 252,000, about 1 in 45 of those infected. Factual · 17 Nov 2020 Biosecurity
Unresolvable Factual 17 Nov 2020 Face masks against Covid are available for 15 cents each. Factual · 17 Nov 2020 Biosecurity
Mixed Prediction 16 Nov 2020 Widespread Covid vaccinations that will end the pandemic in the US are only a few months away from November 2020. Prediction · 16 Nov 2020 Biosecurity
Unresolvable Prediction 16 Nov 2020 If the US does not take Covid seriously, another 500,000 Americans will die of Covid. Prediction · 16 Nov 2020 Biosecurity
Not checkable Not checkable 16 Nov 2020 This interview is a must watch. Not checkable · 16 Nov 2020
Not checkable Not checkable 7 Nov 2020 Think about your legacy and what’s best for the country. Concede graciously and call for unity from all who have supported you. Not checkable · 7 Nov 2020
Not checkable Not checkable 7 Nov 2020 There comes a time in the battle when one should fold the tent. Instead focus on your accomplishments over the last four years. Not checkable · 7 Nov 2020
Not checkable Not checkable 7 Oct 2020 Mr. President and Madam Speaker, in that you both agree on the first $1.6T of stimulus, why not immediately fund $1.6T of stimulus and… Not checkable · 7 Oct 2020
Not checkable Not checkable 25 Jan 2019 Why should members of the Congress be paid while workers for the Federal government go unpaid? Not checkable · 25 Jan 2019
Not checkable Not checkable 25 Jan 2019 This is a really important speech. I encourage you to watch it. Not checkable · 25 Jan 2019
Unresolvable Prediction 25 Jan 2019 If Congress members went unpaid during shutdowns like federal workers, the US would no longer have government shutdowns. Prediction · 25 Jan 2019 AI policy and governance
Not checkable Not checkable 25 Jan 2019 The whole 28 minute speech Not checkable · 25 Jan 2019
Not researched Factual 17 May 2018 Fannie Mae and Freddie Mac common stock prices have declined about 50% year-to-date in 2018. Factual · 17 May 2018 Economics and markets
Unresolvable Factual 17 May 2018 Dawn Lepore joined the Pershing Square Advisory Board in the quarter referred to as "this quarter" in the statement made on 2018-05-17. Factual · 17 May 2018 Their own work or organisation
Not researched Factual 17 May 2018 Platform's organic EBITDA decreased 3% in Q1 2018 despite positive organic sales growth, due to input cost inflation in Ag Solutions. Factual · 17 May 2018 Economics and markets
Not checkable Not checkable 17 May 2018 The company’s outright ownership of its land allows it to carefully control the pace of deliveries, enabling HHC to meet market demand… Not checkable · 17 May 2018
Not checkable Not checkable 17 May 2018 To date, we believe that few HHC shareholders have assigned significant value to this non-core asset. Not checkable · 17 May 2018
Not researched Factual 17 May 2018 Live Nation recently announced a summer 2018 rooftop concert series at the Seaport. Factual · 17 May 2018 Economics and markets
Not checkable Not checkable 17 May 2018 We continue to believe that ADP’s potential is substantially greater than is reflected by its current guidance even when updated for the… Not checkable · 17 May 2018
Not checkable Not checkable 17 May 2018 I plan to finance the substantial majority of my own potential share purchases with the proceeds of deferred compensation that vested on… Not checkable · 17 May 2018
Not researched Factual 17 May 2018 Chipotle's Q1 2018 results were materially ahead of consensus expectations for same-store sales, margins and earnings. Factual · 17 May 2018 Economics and markets
Not checkable Not checkable 17 May 2018 I may also use personal cash on hand, proceeds from borrowings, liquidity from the sale or financing of other non-Pershing Square assets… Not checkable · 17 May 2018
Not researched Factual 17 May 2018 About 720 basis points of PSH's outperformance since the end of Q1 2018 came from net investment performance. Factual · 17 May 2018 Their own work or organisation
Resolved true Prediction 17 May 2018 Absent a further policy change from Treasury and FHFA, the subject said he expected Freddie Mac to resume dividend payments to the Treasury in the third quarter of 2018. Prediction · 17 May 2018 Economics and markets
Unresolvable Prediction 17 May 2018 Pratt & Whitney's profit margins, currently depressed by losses from the GTF program ramp-up, should expand meaningfully as the GTF engine begins generating aftermarket revenues. Prediction · 17 May 2018 Economics and markets
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Bill Ackman

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“have admired the company’s industry-leading execution and operational excellence.”

Bill Ackman 2022 Bill Ackman's Pershing Square 2021 Annual Letter to Shareholders (GuruFocus)

have admired the company’s industry-leading execution and operational excellence.

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

Cite this claim

Bill Ackman, “have admired the company’s industry-leading execution and operational excellence.” (said 2022). Verdict: not checkable. Reliability API, claim c_c43ec55c6285, method 0.1.0+c876030c. https://epistacklabs.com/claims/c_c43ec55c6285

Claims without a verdict

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