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Bill Ackman - Pershing Square Capital Management 13F Activity & Position Changes (Q3 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 Sep 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 Q3 2018, the filing reported:

New Buys - None reported

Increases - Lowe's Companies, Inc.

Reductions - Automatic Data Processing, Inc., Chipotle Mexican Grill, Inc.

Complete Exits - Mondelez International, 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
Q3 2018	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Sell	-195,938	-4.6%	$607.07K	4,029,427
Q3 2018	CMG Chipotle Mexican Grill, Inc.	Chipotle Mexican Grill, Inc.	Sell	-823,357	-28.6%	$935.90K	2,059,106
Q3 2018	LOW Lowe's Companies, Inc.	Lowe's Companies, Inc.	Buy	+723,300	+9.4%	$968.94K	8,438,801
Q3 2018	MDLZ Mondelez International, Inc.	Mondelez International, Inc.	Sell - Position Exit	-16,371,713	-100.0%	$0.00	-