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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
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  "presentationDate": "2018-01-29 00:00:00",
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  "notes": "The chart highlights the correlation between activist events and share price appreciation.",
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      "kind": "callout",
      "text": "ADP’s share price including dividends has increased 18% from our average cost at announcement date to January 19, 2018",
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      "text": "ADP share price performance from 5/10/2017 to 1/19/2018",
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      "text": "Note: The performance of ADP’s share price is provided for illustrative purposes only and is not an indication of future returns of the Pershing Square funds. *Average cost at announcement date.",
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      "text": "ADP: Share Price Performance Since Inception",
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