Pershing Square Holdings Ltd announced a share-buyback programme of up to $100 million [1].
The move is designed to return capital to shareholders and increase the fund's net asset value per share. By reducing the total number of shares outstanding, the company aims to enhance the value of the remaining public holdings.
Pershing Square Holdings, the closed-end fund managed by Bill Ackman, said it made the announcement on March 11, 2026 [2]. The fund is listed on the London Stock Exchange [2].
According to company data from March 10, 2026, the net asset value per public share stood at $73.46 USD or £54.75 GBP [3]. Following the buyback, the number of public shares is expected to be 175,301,944 [3].
This is not the first time the firm has pursued this strategy. The company previously conducted a buyback program in 2017 [4]. While some reports indicate the firm repurchased about 75 million shares for $1 during that period, other regulatory filings do not specify the exact figures for the 2017 event [4].
The current $100 million initiative reflects a continued effort to manage the gap between the fund's market price and its underlying asset value. The firm said it intends to execute these transactions through the London Stock Exchange to optimize shareholder returns [2].
“Pershing Square Holdings announced a share-buyback programme of up to $100 million”
Share buybacks are often used by closed-end funds when their shares trade at a significant discount to the net asset value. By purchasing shares on the open market, Pershing Square effectively increases the proportional ownership of the remaining shareholders in the fund's portfolio without requiring new capital investments.
