It might not take all too long before public market investors can finally punch a ticket to Bill Ackman’s Pershing Square Holdings, as it looks to IPO potentially in the early quarters (perhaps as soon as Q1) of next year, at least according to FT. Undoubtedly, Pershing Square is far more than just a hedge fund run by one of Wall Street’s greats.
With grand ambitions to transform Pershing Square into something that could become more like a
“modern-day Berkshire Hathaway (NYSE:BRK-B | BRK-B Price Prediction),” with a public investment portfolio as well as operating companies (think buying up the entirety of Howard Hughes Holdings (NYSE:HHH) and perhaps a bit of an insurance spin, I couldn’t be more excited for a Pershing Square USA that’s easily accessible to everyday American investors.
The timing for a Pershing Square IPO seems perfect
With Warren Buffett slated to retire from Berkshire Hathaway at the end of the year, there’s no question that many investors who invested in Berkshire for the man, rather than the conglomerate, might be more than willing to take their investment dollars elsewhere, perhaps towards another legendary investor (and Buffett follower) who might be able to achieve market-topping results consistently over time.
Though we’ll have to wait and see for further details regarding the big Pershing Square IPOs, I am quite tempted to punch a ticket. It’s not just about betting on Bill Ackman’s ability to generate alpha, but perhaps betting on an entity that may very well grow into another version of Berkshire Hathaway. At this juncture, it appears investors might soon have the option to buy Pershing Square USA (PSUS) for the portfolio or Pershing Square Capital Management (PSCM) to invest in the fund management business itself.
Undoubtedly, the former, Pershing Square USA, is likely to be the hot hit among retail investors looking to stay ahead of the market based on Ackman’s picks. That said, the Pershing Square Capital Management business offers some very unique exposure that might appeal to alternative investors looking to bet on the hedge fund itself.
Bill Ackman has had some hits of late!
Of late, Bill Ackman’s stock-picking track record has been beyond incredible. Of course, the man is known to make big swings when he spots an opportunity that flies within his strike zone. And with his prior bet on shares of Google parent Alphabet (NASDAQ:GOOG), which Ackman and company first started buying more than a year before Buffett’s Berkshire initiated its position (Q3 2025), there is no question that Ackman looks to have swung a grand slam home run, so to speak.
Add Ackman’s brilliant, winning bet of Uber Technologies (NYSE:UBER) into the equation, the incredibly well-timed options trades made in the heat of the COVID-19 crash (one of the best hedges in recent history), and Pershing Square might be well worth the price of admission.
Will Pershing Square USA’s IPO hit the ground running?
Of course, this isn’t the first time Pershing Square USA tried to kick off its IPO. And while there is still a chance that a lack of investor interest could shelve an IPO for some period of time, I’m more inclined to think that there will be enough interest this time around, given Ackman’s more recent investment wins, which may very well be just getting started.
Though Ackman and Pershing Square trimmed their stake in Alphabet by less than 10% in the third quarter, taking some nice profits off the table, one has to wonder what the next big move (fourth quarter) will be with the knowledge that Berkshire has punched its ticket to the fast-running Mag Seven AI behemoth, which may very well be the largest company by market cap by the end of next year.
Either way, I’m a huge Bill Ackman fan and am excited by the prospect of investing in Pershing Square USA should its IPO hit in the first three months of next year and the shares of the closed-end fund go for a good discount to net asset value (NAV). It’ll be a historic moment for sure. After a big market-beating year for Ackman, I do think the IPO will be met with more investor interest.
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