TLDR
- Pershing Square Capital Management filed to list on the NYSE under the ticker “PS”
- The deal includes a dual listing with its closed-end fund, Pershing Square USA (PSUS)
- The firm has secured $2.8 billion in commitments from family offices, pension funds, and others
- Major banks including Citigroup, UBS, and Bank of America are underwriting the IPO
- Ackman has cited Warren Buffett and Berkshire Hathaway as the model for his permanent-capital vision
Bill Ackman’s Pershing Square Capital Management filed on Tuesday to list on the New York Stock Exchange under the ticker symbol “PS.”
Pershing Square Inc. files for an IPO, in a deal that would see billionaire Bill Ackman’s hedge fund make its debut on a US exchange alongside a new closed-end fund https://t.co/VYkjJeYh65
— Bloomberg (@business) March 10, 2026
The filing marks a major step for Ackman, who has long wanted to build a publicly traded investment firm modeled on Warren Buffett’s Berkshire Hathaway.
The offering has a dual structure. Pershing Square’s common shares and those of its U.S.-listed closed-end fund, Pershing Square USA (PSUS), will both trade on the NYSE but as separate securities.
Investors will be able to buy and sell each one independently. This is the first time Pershing Square’s common stock will be available to the public.
The firm said it has already locked in $2.8 billion in commitments ahead of the listing. That money is coming from family offices, pension funds, insurance companies, and ultra-high-net-worth individuals.
Citigroup, UBS Investment Bank, Bank of America Securities, Jefferies, and Wells Fargo Securities are listed as underwriters for the deal.
Ackman’s Buffett Blueprint
Ackman has frequently pointed to Buffett as his inspiration. He has called himself a “Buffett devotee” and described the investor as his “unofficial mentor.”
Buffett started his career running private investment partnerships before taking control of Berkshire Hathaway in the 1960s. Ackman says that path shaped his own thinking about building a permanent-capital platform.
“Permanent capital allows us to take a long-term view and be opportunistic during periods of market volatility,” the filing stated.
The idea is to avoid needing to sell assets just to meet investor withdrawals during market downturns.
Retail Investors in Focus
Pershing Square said PSUS will be the firm’s first fund marketed to both U.S. retail and institutional investors.
Ackman has more than two million followers on the social media platform X. The public listing is partly designed to tap into that retail following.
Pershing Square tried to take PSUS public in 2024 but pulled back. This new filing revives that effort as part of a broader combined offering.
The firm runs a concentrated portfolio focused on large-cap companies. Ackman is known for high-profile, often activist investment positions.
The filing was submitted on Tuesday, March 10, 2026.
Considering a new stock? You may want to see what’s on our watchlist first.
Our team at Knockout Stocks follows top-performing analysts and market-moving trends to spot potential winners early. We’ve identified five stocks gaining quiet attention that could be worth watching now. Create your free account to unlock the full report and get ongoing stock insights.Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
