Exited position

Bill Ackman’s Air Products And Chemicals I (APD) position

Reported position history, portfolio importance and verified filing changes from public SEC disclosures.

Pershing Square Capital ManagementVerified through Q2 2026
Relationship snapshot

At a glance

The full verified relationship, including prior ownership episodes and exits where supported.

First reportedQ2 2013Earliest verified positive filing snapshot
Latest statusExited positionBased on the latest supported relationship state
Peak shares20.55MHighest verified quarter-end share count
Quarters reported16Verified quarters with shares above zero
What happened?

Pershing Square Capital Management first reported Air Products And Chemicals I in Q2 2013. The reported position was increased and reduced across later filings. The latest verified relationship event shows that Pershing Square Capital Management sold the entire position in Q2 2017, and the stock is no longer reported in the latest verified portfolio.

Verified SEC history

Position over time

See the same verified relationship through reported shares, portfolio weight or reported value.

Metric

Gaps indicate periods that cannot be safely connected or where a verified corporate action changes the raw share scale. Stock price, when available, is market context and not a transaction price.

Key filing events

What changed

Latest filing plus the most meaningful reported changes. Unchanged quarters are collapsed by default.

Q2 2017
Sold the entire position−2.28M shares · No shares reported at quarter-end
Q1 2017
Sold 41.1% of the position−1.59M shares · 2.28M shares remained
Filing context

Quarter-end price $135.29 · Estimated holding basis $99.20

Q4 2016
Sold 3.8% of the position−154.38K shares · 3.87M shares remained
Filing context

Quarter-end price $143.82 · Estimated holding basis $99.20

Q3 2016
Sold 47.0% of the position−3.58M shares · 4.03M shares remained
Filing context

Quarter-end price $150.34 · Estimated holding basis $99.20

Q1 2016
Sold 63.0% of the position−12.95M shares · 7.60M shares remained
Filing context

Quarter-end price $144.05 · Estimated holding basis $99.20

Q4 2013
Bought 0.02% more+3.79K shares · 20.55M shares reported after the change
Filing context

Quarter-end price $111.78 · Estimated holding basis $99.20

9 unchanged quarters are collapsed by default.

Portfolio importance

How important was Air Products And Chemicals I in Pershing Square Capital Management’s reported portfolio?

Relative importance is measured only within the verified primary non-option reported portfolio for each quarter.

Last reported portfolio weight5.2%Q1 2017
Last reported rank#7of 7 reported positions
Peak portfolio weight29.2%Q1 2014
Best historical rank#1Q4 2015
At peak importanceQ1 2014
APD
29.2%
Largest holding
30.8%
Cross-investor discovery

Who else owns Air Products And Chemicals I?

Also reported by 1 other tracked investor in their latest verified filings.

Joel GreenblattGotham Asset Management
APD0.0% of reported portfolio
Explore Air Products And Chemicals I across all tracked investors →
SEC evidence & methodology

SEC filing evidence

Market context and filing-derived values are kept separate from actual transaction prices, which 13F filings do not disclose.

Latest verified stock price$284.182026-09-18

Market context only; not an investor transaction price.

Latest verified investor filingQ2 2026 · filed 2026-08-14
Open SEC filing ↗

This tracker follows Pershing Square Capital Management’s Form 13F disclosures. It is not Bill Ackman’s personal brokerage account, and 13F filings do not reveal exact trade dates or execution prices.