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Bill Ackman - Pershing Square Capital Management 13F Activity & Position Changes (Q1 2018)

According to the SEC 13F filed on May 15, 2026, the Pershing Square Capital Management portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2018. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2018, the filing reported:

New Buys - None reported

Increases - None reported

Reductions - Automatic Data Processing, Inc., Mondelez International, Inc., Restaurant Brands International

Complete Exits - Nike, Inc.

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2018	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-856,485	-9.7%	$901.25K	7,941,957
Q1 2018	MDLZ Mondelez International, Inc.	Mondelez International, Inc.	Sell	-7,099,811	-30.5%	$674.22K	16,156,591
Q1 2018	NKE Nike, Inc.	Nike, Inc.	Sell - Position Exit	-5,836,020	-100.0%	$0.00	-
Q1 2018	QSR Restaurant Brands International	Restaurant Brands International	Sell	-2,180,434	-8.2%	$1.38M	24,320,295