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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
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  "authorName": "William Ackman",
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      "text": "We are currently Chipotle's second largest shareholder with a ~10% ownership stake in the company",
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      "text": "Superb restaurant brand that pioneered the “fast casual” category with the success of its outstanding product offering, unique culture, and powerful economic model\nFounded by Chairman and CEO Steve Ells in 1993\nHigh quality, simple, predictable, unlevered, free-cash-flow-generative business\nRecovering from food safety issues beginning in the fourth quarter of 2015 which caused a peak decline in average unit sales of 36%(1)\nWe are currently Chipotle’s second largest shareholder with a ~10% ownership stake in the company",
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      "text": "Chipotle Mexican Grill (CMG)",
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