13F filing recap · Q3 2016

What did Pershing Square Capital Management buy in Q3 2016?

Reported stock-position changes between this filing and the previous one.

Stock value

$5.41B

Positions

Estimated turnover

46.4%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

CMGChipotle Mexican Grill, Inc.$234.71Mreported value+554.2K shares

Reduced positions

APDAir Products and Chemicals, Inc.$605.14Mreported value-3.58M shares-47.0%ZTSZoetis Inc.$141.35Mreported value-18.46M shares-87.2%

Exited positions

CPCanadian Pacific Kansas City Ltd/cn$1.27Bprior reported value-9.84M shares-100.0%