---
title: "Bill Ackman's new closed-end fund trades 20% below its IPO price. Is the Berkshire-style bet broken?"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293105196.md"
description: "Pershing Square USA gives you access to Bill Ackman, but it comes with a unique twist that investors need to understand."
datetime: "2026-07-18T19:33:47.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293105196.md)
  - [en](https://longbridge.com/en/news/293105196.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293105196.md)
generator: "portal-rs"
---

# Bill Ackman's new closed-end fund trades 20% below its IPO price. Is the Berkshire-style bet broken?

Pershing Square USA gives you access to Bill Ackman, but it comes with a unique twist that investors need to understand.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**