Pershing Square Amends RBI Stake Filing

TL;DR

Ackman's Pershing Square updated its RBI filing, watch for changes.

AI Summary

Pershing Square Capital Management, L.P., led by William A. Ackman, has filed an amendment to its Schedule 13D on July 18, 2024, regarding its holdings in Restaurant Brands International Inc. The filing indicates a change in the group members associated with Pershing Square, including Pershing Square Holdco GP, LLC and Pershing Square Holdco, L.P. No specific changes in share ownership or dollar amounts were detailed in this amendment.

Why It Matters

This amendment signals ongoing activity and potential strategic adjustments by a significant activist investor in Restaurant Brands International, which could influence future company decisions.

Risk Assessment

Risk Level: medium — Changes in filings by activist investors like Pershing Square can precede significant market movements or strategic shifts in the target company.

Key Players & Entities

• Pershing Square Capital Management, L.P. (company) — Filing entity
• William A. Ackman (person) — Key figure associated with Pershing Square
• Restaurant Brands International Inc. (company) — Subject company
• Pershing Square Holdco GP, LLC (company) — Group member
• Pershing Square Holdco, L.P. (company) — Group member

FAQ

From the Filing

0001193125-24-181174.txt : 20240718 0001193125-24-181174.hdr.sgml : 20240718 20240718215555 ACCESSION NUMBER: 0001193125-24-181174 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20240718 DATE AS OF CHANGE: 20240718 GROUP MEMBERS: PERSHING SQUARE HOLDCO GP, LLC GROUP MEMBERS: PERSHING SQUARE HOLDCO, L.P. GROUP MEMBERS: PS HOLDCO GP MANAGING MEMBER, 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: 241125952 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 d869146dsc13da.htm SC 13D/A SC 13D/A CONFIDENTIAL 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. 3)* 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) July 16, 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 which 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. ☐ Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent. • 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