Warren Buffett’s successor hit the stock market, the stock fell 18% in one day

Ackman, who is considered a legend in the field of hedge funds, has often said that he aspires to operate a holding company like Berkshire Hathaway of Warren Buffett. But in the meantime the investors were less enthusiastic.

Pershing Square shares closed at $40.93, down 18% from the $50 IPO. It fell as much as 19% to $40.33 in intraday trading. Shares of PS, which stands for the asset management company itself, saw less dramatic swings, falling nearly 6% to $22.67 after opening at $25.

● Three financial giants met on one stage and warned of the consequences of war
● In the US they understood: we must enter the hot security field

Ackman said the dual listing on the New York Stock Exchange reflects the company’s efforts to make asset management accessible to retail traders without high management fees and commissions.

“Hedge funds are known for managing money for wealthy people. And now we have an opportunity for someone with $50 who can be a long-term shareholder,” he told CNBC. “Usually, the retail investment is reduced and the institutional ones get priority. We did the opposite.”

Pershing Square posted a net return of 2,644% between 2004 and the end of 2025, compared with an 836% return for the S&P 500, according to investor materials. The portfolio includes technology giants such as Amazon, Alphabet and Meta, Hertz and Uber.

Let’s recall that Ackman is not only a great investor but also a passionate supporter of Israel who owns 5% of the shares in the Tel Aviv Stock Exchange.