{
  "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": 47,
  "pageCount": 95,
  "prevPage": 46,
  "nextPage": 48,
  "slideType": "thesis_headline",
  "function": "frame_situation",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "Uses a convergence diagram to show market share shift toward Fast Casual.",
  "elementsJson": [
    "headline_text",
    "process_diagram",
    "bullet_list",
    "logo_grid"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-c622cb82b5b7/47",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-c622cb82b5b7",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-c622cb82b5b7.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-c622cb82b5b7#slide-47",
  "components": [
    {
      "bbox": {
        "h": 0.7,
        "w": 0.9,
        "x": 0.05,
        "y": 0.2
      },
      "kind": "diagram",
      "text": "Convergence of market segments into Fast Casual",
      "attrs": null,
      "subkind": "process",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "079aa988-886f-48ae-b144-089c0b1a3717",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.4,
        "x": 0.3,
        "y": 0.68
      },
      "kind": "image",
      "text": "Panera, Qdoba, Noodles & Company, El Pollo Loco, Chipotle",
      "attrs": null,
      "subkind": "logo-grid",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d6045c32-74d2-4e40-99ef-8444fa755fe9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.25,
        "x": 0.38,
        "y": 0.375
      },
      "kind": "list",
      "text": "Casual Dining: Searching for better value and more convenience without sacrificing food quality",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "28669b33-9620-4785-8db8-fb1bc8ede4f4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.25,
        "x": 0.05,
        "y": 0.375
      },
      "kind": "list",
      "text": "Traditional Fast Food: Searching for healthier, convenient hot meals; Lacking generational relevance",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b232234c-bb4c-4d76-ab6a-48ca522701a6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.25,
        "x": 0.7,
        "y": 0.375
      },
      "kind": "list",
      "text": "At-Home Dining: Slowing family formations; More women in workforce; Smaller kitchens / urbanization trends",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c744b184-15d5-457c-97ee-6e04d205c7db",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "title",
      "text": "Fast Casual Will Continue to Grow Share in the U.S.",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ff2acec7-0075-46c8-a115-be0ebb6c807c",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "AIDA Model",
      "slug": "aida-model",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "7c8b0447-53f1-4598-98d6-5fed904070fe",
      "evidence": "list/bullet: At-Home Dining: Slowing family formations; More women in workforce; Smaller kitchens / urbanization trends",
      "confidence": 0.5
    }
  ],
  "frameworks": [
    {
      "name": "causal-chain",
      "slug": null,
      "matchId": "4015ef54-c98f-4a12-9a58-ef9f3bcf9f41",
      "evidence": "Arrows showing market drivers converging into a single segment",
      "confidence": 0.9
    }
  ],
  "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": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}