Ackman Calls His Fund's Price Gap "Absurd," Promises Fix

Bill Ackman called Pershing Square USA's share-price discount "frankly absurd" on a Q2 2026 earnings call. PSUS shares trade below the fund's $50.32 per-share asset value, or NAV — what its holdings are actually worth. He didn't say how he'll close the gap. IPO investors are down 5.9% even as the fund's assets rose 2%.