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Bill Ackman - Pershing Square Capital Management 13F Activity & Position Changes (Q2 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 Jun 30, 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 Q2 2018, the filing reported:

New Buys - Lowe's Companies, Inc.

Increases - Mondelez International, Inc.

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

Complete Exits - None reported

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
Q2 2018	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-3,716,592	-46.8%	$566.79K	4,225,365
Q2 2018	LOW Lowe's Companies, Inc.	Lowe's Companies, Inc.	Buy - Position Entry	+7,715,501	-	$737.37K	7,715,501
Q2 2018	MDLZ Mondelez International, Inc.	Mondelez International, Inc.	Buy	+215,122	+1.3%	$671.24K	16,371,713
Q2 2018	QSR Restaurant Brands International	Restaurant Brands International	Sell	-3,476,376	-14.3%	$1.26M	20,843,919