{
  "docId": "019de06f-fac0-7028-97e9-79b5a868635b",
  "docSlug": "a9dbd2afd8b67eb9b43951ae299ef9e4",
  "documentTitle": "Pershing Square | Activist Presentation Deck | 62 slides",
  "authorId": "pershing-square",
  "authorName": "Pershing Square Holdings",
  "documentKindSlug": "deck",
  "documentKindLabel": "Deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2020-02-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 43,
  "pageCount": 62,
  "prevPage": 42,
  "nextPage": 44,
  "slideType": "other",
  "function": "analyze_data",
  "density": "overcrowded",
  "nDataPoints": 4,
  "notes": "The chart includes a baseline of $16* representing the average cost since merger with Justice Holdings.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-fac0-7028-97e9-79b5a868635b/43",
  "deckHref": "/decks/019de06f-fac0-7028-97e9-79b5a868635b",
  "deckJsonHref": "/decks/019de06f-fac0-7028-97e9-79b5a868635b.json",
  "deckAnchorHref": "/decks/019de06f-fac0-7028-97e9-79b5a868635b#slide-43",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.0018
      },
      "kind": "callout",
      "text": "QSR's share price including dividends increased 26% in 2019 and decreased 3% year-to-date in 2020",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5c74700d-321c-4ccf-89a0-11d06f85dd31",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.85,
        "x": 0.08,
        "y": 0.0034
      },
      "kind": "chart",
      "text": "QSR share price performance from 6/19/2012 to 2/4/2020",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0fa5d7ae-20ec-4902-ae24-ac4792709591",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.92,
        "x": 0.04,
        "y": 0.0092
      },
      "kind": "disclaimer",
      "text": "Note: The performance of QSR's share price is provided for illustrative purposes only and is not an indication of future returns of the Pershing Square funds. *Average cost since it merged with Justice Holdings. Please see the additional disclaimers and notes to performance results at the end of the presentation. (1) As of 2/4/2020",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a4ca8126-b45f-4e1a-ae67-4d8ba327f67d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.35,
        "x": 0.49,
        "y": 0.0034
      },
      "kind": "legend",
      "text": "1/23/19: QSR announces leadership transition, elevating Daniel Schwartz to Executive Chairman and Jose Cil to CEO",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1034d644-e8af-4233-ba4a-19cf5acdbdaa",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.25,
        "x": 0.41,
        "y": 0.0047
      },
      "kind": "legend",
      "text": "2/1/17: QSR announces acquisition of Popeyes",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ad1898ec-ffe6-4952-9c47-7e7248283079",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.25,
        "x": 0.73,
        "y": 0.0058
      },
      "kind": "legend",
      "text": "10/23/19 – 1/2/20: Pershing Square purchases additional ~1mm equity forwards",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b2291919-b625-42fe-a6fe-9b914eed2a33",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.25,
        "x": 0.16,
        "y": 0.0060999999999999995
      },
      "kind": "legend",
      "text": "8/24/14: QSR announces acquisition of Tim Hortons",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d20ff1f7-8dff-4251-b4ff-89067699b9df",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.88,
        "x": 0.04,
        "y": 0.08
      },
      "kind": "title",
      "text": "QSR Share Price Performance Since Inception",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "be0389e3-5373-4676-9e0e-bdf9c2f018f6",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Waterfall chart",
      "slug": "waterfall-chart",
      "agent": null,
      "layer": "slide",
      "matchId": "271bba15-0b66-42d2-8868-a3ae477d6449",
      "evidence": "chart/line: QSR share price performance from 6/19/2012 to 2/4/2020",
      "confidence": 0.7
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 49,
      "from": 31,
      "beatId": "4844ba62-45b2-49cd-81b4-4377d9c5ba3b",
      "arcName": "The Sparkline",
      "arcSlug": "sparkline",
      "beatName": "Climax",
      "beatSlug": "mountain-climax",
      "evidence": "The portfolio update section, with its focus on specific investments and their performance, represents a climax in the narrative.",
      "position": 5,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}