{
  "docId": "019dd923-622c-750b-8b9b-c622cb82b5b7",
  "docSlug": "62936067f4f8",
  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2017-01-26 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 23,
  "pageCount": 95,
  "prevPage": 22,
  "nextPage": 24,
  "slideType": "before_after",
  "function": "illustrate_case",
  "density": "balanced",
  "nDataPoints": 1,
  "notes": "The chart uses callout boxes to link specific dates and corporate events to fluctuations in the stock price.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "line_chart",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-c622cb82b5b7/23",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-c622cb82b5b7",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-c622cb82b5b7.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-c622cb82b5b7#slide-23",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.88,
        "x": 0.06,
        "y": 0.17
      },
      "kind": "callout",
      "text": "MDLZ’s share price including dividends has increased 18% from our average cost at announcement date to January 20, 2017*",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e3567731-d86a-48d5-8043-402196f712e3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.88,
        "x": 0.06,
        "y": 0.31
      },
      "kind": "chart",
      "text": "MDLZ share price performance from 3/30/2015 to 1/20/2017",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cee6b7ce-46cd-4eb7-93b9-54006cbd410e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "share price performance: 18%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-70f8-7007-94d7-f7aa98e58174",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.88,
        "x": 0.06,
        "y": 0.91
      },
      "kind": "source-note",
      "text": "Note: The performance of Mondelez’s share price is provided for illustrative purposes only and is not an indication of future returns of the Pershing Square funds. *Return includes dividends. Source: Bloomberg.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "059c298c-5ac5-4605-be9f-bb1948c34888",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.92,
        "x": 0.04,
        "y": 0.08
      },
      "kind": "title",
      "text": "MDLZ: Share Price Performance Since Inception",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "495e6565-3d4f-4230-87ba-54c7834b4508",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "before-after-framing",
      "slug": null,
      "matchId": "047eb503-49b9-4254-8c23-39edba4b2aaf",
      "evidence": "The slide frames the performance of the stock relative to the 'inception' of the activist position.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [
    {
      "to": 95,
      "from": 15,
      "beatId": "4730cd1b-0114-4ab3-afd3-5c0e7aee6451",
      "arcName": "Monroe's Motivated Sequence",
      "arcSlug": "monroes-sequence",
      "beatName": "Satisfaction",
      "beatSlug": "monroes-sequence-satisfaction",
      "evidence": "The document provides a comprehensive update on the fund's current portfolio, highlighting progress and positive returns.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [
    {
      "to": 23,
      "from": 20,
      "name": "Before After",
      "slug": "21-before-after",
      "bestFor": "Product demos, process improvements, ROI justification",
      "matchId": "ba85a773-8815-47ae-a658-b821000e34f3",
      "evidence": "The document presents a clear before-and-after comparison of Mondelēz International's margins.",
      "position": 0,
      "objective": "Highlight the progress made by Mondelēz International in boosting margins.",
      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
      "confidence": 0.7,
      "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}