Pershing Square rises; Bill Ackman bought shares in first trading day

Pershing Square

30/04/2026 16:20

Updates

** Shares of closed-end fund Pershing Square USA PSUS.N up 5.1% at $43, a day after making their NYSE debut

** PSUS shares opened at $42 on Wednesday and ended session down 18% at $40.90 after billionaire investor Bill Ackman's stock-picking fund raised $5 bln, after marketing a deal initially targeting between $5 and $10 bln

** His management firm Pershing Square PS.N also listed publicly on Weds and those shares ended at $24.20. PS shares currently up 30.9% to $31.68

** Ackman bought 500,000 PSUS shares and 800,000 PS shares in the open market on Weds, he wrote in an X post early Thurs

** PSUS investors received one share of PS for every five PSUS shares bought in the IPO

** Closed-end funds typically trade at a discount to their underlying assets

** Citigroup, UBS Securities, BofA, Jefferies and Wells Fargo led an underwriting group of roughly 25 firms for the combined IPO

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))