In plain terms — Pershing Square USA
Shares currently cost about 18.8% less than the value of the assets behind them (a discount).
Annual costs are 2.28% of assets.
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | — | — | — | 0 |
| 6 months | — | — | — | 0 |
| 1 year | — | — | — | 0 |
| 3 years | — | — | — | — |
| 5 years | — | — | — | — |
Current contemporaneous premium/discount — (close Oct 19, 2026 vs NAV Jun 30, 2026). 1-year range — to —. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -4.14% | +0.73% | — | — | — | — |
| Market price total return | -4.14% | +0.73% | — | — | — | — |
| NAV return | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
Through Oct 19, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
Pershing Square USA Ltd. functions as an actively managed, closed-end investment fund with a focused, non-diversified portfolio. Its primary aim is to safeguard initial capital while pursuing significant long-term growth in value, all while maintaining acceptable levels of risk. The company was established on November 28, 2023, and its main operations are based in New York, NY.
CEF Explorer research page for Pershing Square USA, Ltd.. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.