{
  "docId": "019dd923-622c-750b-8b9b-905be5d022fb",
  "docSlug": "0c95c1ec255f",
  "documentTitle": "Pershing Square Portfolio (multiple positions)",
  "authorId": "01_Pershing_Square",
  "authorName": "Pershing Square",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-04-28 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 31,
  "pageCount": 67,
  "prevPage": 30,
  "nextPage": 32,
  "slideType": "nominee_bio",
  "function": "introduce_nominees",
  "density": "balanced",
  "nDataPoints": 4,
  "notes": "Slide 30 of an activist deck, likely part of a thesis presentation.",
  "elementsJson": [
    "bullet_list",
    "logo_grid"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-905be5d022fb/31",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-905be5d022fb",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-905be5d022fb.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-905be5d022fb#slide-31",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Passes Pershing Square’s high bar for business quality",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-70f4-766c-b4d8-9abb2939c8bf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.09,
        "w": 0.22,
        "x": 0.04,
        "y": 0.2
      },
      "kind": "image",
      "text": "zoetis",
      "attrs": null,
      "subkind": "logo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a7ecf946-ae74-441b-af32-cedde68f1d25",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.7,
        "x": 0.27,
        "y": 0.2
      },
      "kind": "list",
      "text": "$4.8bn 2014 revenue, largest manufacturer of medication for pets and livestock in the world\n~$23bn equity market capitalization\nSplit-off from Pfizer June 2013\nPershing Square began buying Zoetis shares on July 22nd 2014 and owns a 8.6% economic stake in the company\nPasses Pershing Square's high bar for business quality\nOnly large, publicly traded \"pure-play\" animal health business",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "13ae9d68-3187-41ac-a714-42471653b1d1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.6,
        "x": 0.3,
        "y": 0.65
      },
      "kind": "list",
      "text": "Simple, predictable, and free cash-flow generative\nHighly durable and diverse product portfolio not subject to high levels of generic competition",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e2cdbcb5-4a8c-4bdc-9169-60faef1ff1e3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "equity market capitalization: $23bn",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-70f4-766c-b4d8-9dc871a9fbcd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.23,
        "x": 0.04,
        "y": 0.08
      },
      "kind": "title",
      "text": "Zoetis Inc.",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3c7097bd-8ad9-423a-bdeb-806db2ceee1a",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Audience Definition",
      "slug": "audience-definition",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "65d28c3d-ad93-46be-8854-16a80e578c32",
      "evidence": "largest manufacturer of medication for pets and livestock in the world",
      "confidence": 0.7
    },
    {
      "name": "Authority citation",
      "slug": "authority-citation",
      "agent": null,
      "layer": "slide",
      "matchId": "4a9ba934-b2dc-46ed-9dca-3f5d68098b39",
      "evidence": "$4.8bn 2014 revenue, largest manufacturer of medication for pets and livestock in the world",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "breakup-spinoff",
      "slug": null,
      "matchId": "6b6b86ee-39ed-4a4e-919e-ab6060bc0502",
      "evidence": "Split-off from Pfizer June 2013",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 40,
      "from": 21,
      "beatId": "f6ab2aef-88a3-4143-a2fd-77bf93d4d7ef",
      "arcName": "Rags to Riches",
      "arcSlug": "rags-to-riches",
      "beatName": "Rising Success",
      "beatSlug": "rags-to-riches-rising-success",
      "evidence": "Examples of portfolio companies' successful transformations and growth.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}