Pershing Square Amends RBI Stake Filing

TL;DR

Ackman's Pershing Square updated their RBI filing - check for new stake details.

AI Summary

Pershing Square Capital Management, L.P. and William A. Ackman, through PS Management GP, LLC, have filed an amendment (Amendment No. 2) to their Schedule 13D for Restaurant Brands International Inc. (RBI) on April 29, 2024. The filing indicates a change in their beneficial ownership, though specific new holdings or dollar amounts are not detailed in this excerpt. The filing is an update to their previous disclosures regarding their investment in RBI.

Why It Matters

This amendment signals a potential shift or update in the investment strategy or holdings of a significant activist investor in Restaurant Brands International, which could influence the company's future direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate changes in significant shareholder positions or strategies, which can introduce volatility.

Key Players & Entities

• Pershing Square Capital Management, L.P. (company) — Filer of the Schedule 13D amendment
• William A. Ackman (person) — Associated with the filing through PS Management GP, LLC
• PS Management GP, LLC (company) — Group member associated with the filing
• Restaurant Brands International Inc. (company) — Subject company of the filing

FAQ

From the Filing

0000950170-24-050065.txt : 20240429 0000950170-24-050065.hdr.sgml : 20240429 20240429172547 ACCESSION NUMBER: 0000950170-24-050065 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240429 DATE AS OF CHANGE: 20240429 GROUP MEMBERS: PS MANAGEMENT GP, LLC GROUP MEMBERS: WILLIAM A. ACKMAN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Restaurant Brands International Inc. CENTRAL INDEX KEY: 0001618756 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 000000000 STATE OF INCORPORATION: Z4 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-88464 FILM NUMBER: 24892950 BUSINESS ADDRESS: STREET 1: 130 KING STREET WEST STREET 2: SUITE 300 CITY: TORONTO STATE: A6 ZIP: M5X 1E1 BUSINESS PHONE: (905) 845-6511 MAIL ADDRESS: STREET 1: 130 KING STREET WEST STREET 2: SUITE 300 CITY: TORONTO STATE: A6 ZIP: M5X 1E1 FORMER COMPANY: FORMER CONFORMED NAME: 9060669 Canada Inc. DATE OF NAME CHANGE: 20141028 FORMER COMPANY: FORMER CONFORMED NAME: 1011773 B.C. Unlimited Liability Co DATE OF NAME CHANGE: 20140905 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Pershing Square Capital Management, L.P. CENTRAL INDEX KEY: 0001336528 ORGANIZATION NAME: IRS NUMBER: 383694136 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 787 11TH AVENUE STREET 2: 9TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-813-3700 MAIL ADDRESS: STREET 1: 787 11TH AVENUE STREET 2: 9TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 SC 13D/A 1 form_13da_qsr_04.29.24.htm SC 13D/A SC 13D/A     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO § 240.13d-2(a) Under the Securities Exchange Act of 1934 (Amendment No. 2)*   RESTAURANT BRANDS INTERNATIONAL INC. (Name of Issuer) Common Stock, no par value (Title of Class of Securities) 76131D103 (CUSIP Number)   Steve Milankov, Esq. Pershing Square Capital Management, L.P. 787 Eleventh Avenue, 9th Floor New York, New York 10019 (212) 813-3700   (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)   April 25, 2024 (Date of Event Which Requires Filing of this Statement )   If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐   * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes ).         CUSIP No. 76131D103         (1) NAME OF REPORTING PERSON    Pershing Square Capital Management, L.P. (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) ☐         (b) ☐ (3) SEC USE ONLY   (4) SOURCE OF FUNDS (SEE INSTRUCTIONS)   OO (See Item 3) (5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)   ☐ (6) CITIZENSHIP OR PLACE OF ORGANIZATION   Delaware NUMBER OF (7) SOLE VOTING POWER NONE SHARES BENEFICIALLY OWNED BY (8) SHARED VOTING POWER 23,729,14