Q3 2019 Pershing Square Holdings Ltd Earnings Call Transcript
Hello, and welcome to the Third Quarter 2019 Investor Call for Pershing Square Capital Management. (Operator Instructions) Today's call is being recorded.
It is now my pleasure to turn the call over to your host, Mr. William Ackman, CEO and Portfolio Manager. Sir, please go ahead.
Thank you, operator. To remind the people on the call, we do provide a disclaimer which highlights a number of risks areas. I encourage you to take a look at the website to read that disclaimer rather than take time on the call. As usual, we will do our best to answer questions we've received as part of our commentary, where we may add on or I may add on to the end questions that we've received that we don't address during the course of our remarks.
We're going to focus our comments really on the kind of depth on the portfolio. And with that, why don't we start with our largest investment, Chipotle? Anthony, why don't you update us on the most recent quarter? Obviously, the
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