Following is the unofficial transcript of a CNBC interview with Pershing Square Capital Management CEO Bill Ackman and CNBC’s Scott Wapner live during the CNBC Delivering Alpha conference today, Thursday, September 28th.

Following is the unofficial transcript of a CNBC interview with Pershing Square Capital Management CEO Bill Ackman and CNBC’s Scott Wapner live during the CNBC Delivering Alpha conference today, Thursday, September 28th.

Jacob Wolinsky is the ex-Founder of Valuewalk.com (founded 2011, sold 2023). He is founder of HedgeFundAlpha (formerly ValueWalk Premium), a hedge fund focused intelligence service for institutional investors. Prior to founding Valuewalk, Jacob covered small caps, worked recruiting members for a large hedge fund community and freelance financial journalism. Jacob lives with his wife and five kids in Passaic Park NJ. - Email: jacob(at)hedgefundalpha.com. For confidential inquires email me for my Signal ID. Other methods of secure communication are also available. FD: Most of my portfolio is in I mostly purchase broad-based ETFs, mutual funds or individual bonds - I do this for performance reasons and to avoid any potential conflict of interest or occasional receipt of insider information. I will disclose if I have a stake in any company, but in general I have few stocks and I avoid any trading especially around topics I am covering.