Bill Ackman, founder and CEO of Pershing Square Capital Management.
Adam Jeffery | CNBC
Bill Ackman has found another typical investment for him: a high quality business with predictable cash flows, durable growth and a catalyst in the coronavirus to separate it from other stocks.
Company: Restaurant Brands International Inc. (QSR)
- Business: A quick service restaurant company operating three brands: Tim Hortons, Burger King and Popeyes Louisiana Kitchen
- Stock market value: $24 billion ($51.67 per share)
Activist: Pershing Square
- Percentage ownership: 9.6%
- Activist commentary: Pershing Square has an extensive and successful track record investing in restaurants. The firm made six previous investments in this industry and has never lost money on any of them. Of the four that were 13D filings, they have averaged a 55.22% return versus 17.57% for the S&P 500.
Despite owning more than 5% of the company’s common stock since 2012, for the first time Pershing Square has converted…