13F filing recap · Q1 2018

What did Pershing Square Capital Management buy in Q1 2018?

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

Stock value

$4.83B

Positions

Estimated turnover

27.6%

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

UTXRtx Corporation$244.65Mreported value+1.94M shares

Reduced positions

QSRRestaurant Brands International Inc.$1.38Breported value-2.18M shares-8.2%ADPAutomatic Data Processing Inc$901.25Mreported value-856.5K shares-9.7%MDLZMondelez International, Inc.$674.22Mreported value-7.10M shares-30.5%HHCHoward Hughes Holdings Inc.$306.72Mreported value

Exited positions

NKENike, Inc.$365.04Mprior reported value-5.84M shares-100.0%