Pershing Square Holdings, Ltd. (LSE: PSH / PSHD), the closed-ended investment holding company, has announced the purchase of 23,179 of its own Public Shares on 6 November 2026, executed through its appointed agent Jefferies International Limited. The buyback was conducted across two LSE-listed tickers — PSH and PSHD — at a combined average price of $51.58 per share. The transaction is notable given that the net asset value per Public Share stood at $78.89 (£58.89) as of 31 October 2026, implying the repurchase occurred at a meaningful discount to NAV, a factor investors in closed-ended funds typically monitor closely.

Key Points

  • Pershing Square Holdings, Ltd. (LSE: PSH / PSHD) — a closed-ended investment holding company managed by Pershing Square Capital Management
  • PSH purchased 23,179 Public Shares of no par value on 6 November 2026 through Jefferies International Limited
  • Average price paid was $51.58 per share; NAV per share was $78.89 / £58.89 as of 31 October 2026; total Public Shares outstanding after buyback stand at 172,308,115
  • Investors may be watching whether PSH continues systematic buybacks given the persistent NAV discount implied by the transaction price

PSH Purchases 23,179 Shares Across LSE Tickers PSH and PSHD on 6 November 2026

The announcement states that 18,577 shares were repurchased under the PSH ticker on the London Stock Exchange, with prices ranging from a low of 3,836 pence ($51.26) to a high of 3,892 pence ($52.01), at an average of 3,859 pence ($51.57) per share. A further 4,602 shares were purchased under the PSHD ticker, with prices ranging from $51.30 to $52.00 and an average of $51.64 per share. All share prices were calculated by Jefferies International Limited, PSH's appointed buyback agent, as confirmed in the announcement.

Repurchased Shares Held in Treasury, Bringing Total Treasury Holding to 38,648,635 Shares

Pershing Square Holdings confirmed that the 23,179 Public Shares acquired will be held in Treasury rather than cancelled. Following the transaction, the company reports 172,308,115 Public Shares outstanding. Treasury shares now total 38,648,635, excluded from the outstanding count. The announcement also confirms that the one special voting share, held by PS Holdings Independent Voting Company Limited, has not been affected by this buyback transaction, leaving the fund's governance structure unchanged.

NAV per Share of $78.89 Highlights Discount at Which PSH Conducted the 6 November Repurchase

The net asset value per Public Share relevant to this buyback was calculated at $78.89 (£58.89) as of 31 October 2026, according to the announcement. With shares repurchased at an average of $51.58, the transaction was conducted at a substantial discount to the most recently disclosed NAV. For investors in closed-ended funds such as PSH, buybacks executed below NAV are generally considered accretive to remaining shareholders, as they increase the proportional NAV attributable to each outstanding share. Investors may be watching whether PSH maintains this buyback programme in subsequent trading sessions.