Pershing Square Capital Management’s Air Products & Chemicals APD Stock Holding History

Pershing Square Capital Management’s Portfolio APD Stock Details APD Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2017 Q2	–	Sell	-2,280,138	Closed	-$308M	–	8
2017 Q1	$308M	Sell	2,280,138 -1,590,622	-41%	-$224M	5.18%	7
2016 Q4	$557M	Sell	3,870,760 -480,416	-11%	-$67.2M	9.41%	4
2016 Q3	$605M	Sell	4,351,176 -3,865,656	-47%	-$536M	11.18%	3
2016 Q2	$1.08B	Hold	8,216,832	–	–	14.37%	3
2016 Q1	$1.09B	Sell	8,216,832 -13,996,719	-63%	-$1.69B	12.37%	4
2015 Q4	$2.67B	Hold	22,213,551	–	–	21.46%	1
2015 Q3	$2.62B	Hold	22,213,551	–	–	18.79%	2
2015 Q2	$2.81B	Hold	22,213,551	–	–	19.46%	2
2015 Q1	$3.11B	Hold	22,213,551	–	–	20.77%	2
2014 Q4	$2.96B	Hold	22,213,551	–	–	18.47%	2
2014 Q3	$2.68B	Hold	22,213,551	–	–	19.93%	3
2014 Q2	$2.64B	Hold	22,213,551	–	–	20.98%	2
2014 Q1	$2.45B	Hold	22,213,551	–	–	29.19%	2
2013 Q4	$2.3B	Buy	22,213,551 +4,099	+0%	+$413K	27.91%	2
2013 Q3	$2.19B	Buy	22,209,452 +11,295,992	+104%	+$1.07B	21.31%	2
2013 Q2	$924M	Buy	+10,913,460	New	+$917M	8.44%	5

Other funds holding APD

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

State Farm Mutual Automobile Insurance Bloomington, Illinois $127B AUM 32.55% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Barrow, Hanley, Mewhinney & Strauss Dallas, Texas $30.5B AUM 29.95% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

T. Rowe Price Associates Baltimore, Maryland $865B AUM 30.76% 1-Year Est. Return

Wells Fargo San Francisco, California $530B AUM 22.01% 1-Year Est. Return

Capital World Investors Los Angeles, California $733B AUM 35.63% 1-Year Est. Return

Franklin Resources San Mateo, California $408B AUM 30.18% 1-Year Est. Return

Pershing Square Capital Management's APD Position: Q2 2017 in Review

Pershing Square Capital Management sold out of Air Products & Chemicals (APD) in Q2 2017, closing a stake of 2,280,138 shares — an estimated $308M sold.

Pershing Square Capital Management first reported a position in APD in Q2 2013 and held it in 16 quarters. The position peaked at $3.11B in Q1 2015. 904 funds tracked by Wall St. Rank hold APD as of Q2 2017.

Pershing Square Capital Management reported no remaining Air Products & Chemicals position as of Q2 2017 after selling out during the quarter.
Pershing Square Capital Management sold 2,280,138 Air Products & Chemicals shares in Q2 2017, an estimated $308M.
Pershing Square Capital Management first reported a position in Air Products & Chemicals in Q2 2013 and held it in 16 quarters.
Pershing Square Capital Management's Air Products & Chemicals position peaked at $3.11B in Q1 2015.
904 funds tracked by Wall St. Rank held Air Products & Chemicals as of Q2 2017.

Based on Pershing Square Capital Management's 13F filing for Q2 2017, filed 14 Aug 2017.