Billionaire hedge fund manager Bill Ackman unveiled a new stake in sports apparel company Nike on Wednesday. Ackman’s Pershing Square Capital Management disclosed in a securities filing that it owned more than 3 million shares of Nike at the end of June, a stake worth roughly $229 million. This is not the first time Ackman has bought Nike stock. CNBC reported in 2018 that Pershing Square made a $100 million profit trading in and out of the stock over a six-month period. Nor was Nike the only new addition to Pershing’s portfolio in the latest quarter. The hedge fund also unveiled a stake in Brookfield Corp ., a Canadian financial company with significant real estate holdings. That position was worth roughly $285 million at the end of June. In addition to those purchases, Pershing Square trimmed many holdings. The fund sold about 16% of its shares in Google-parent Alphabet and more than 22% in Chipotle Mexican Grill , according to filings and VerityData. Pershing owns both class A and class C shares of Alphabet. The filing does not reflect any trading Pershing may have done on Tuesday, when Chipotle’s stock fell 7.5% after the announcement that CEO Brian Niccol was leaving for Starbucks . The quarterly hedge fund filings with the Securities and Exchange Commission only show the quarter-end equity positions. Ackman’s fund could have derivatives positions not represented in the chart above. Pershing Square has also reported several small tweaks to its positions since the end of June in separate filings . The hedge fund is separate from the proposed Pershing Square USA closed-end fund that Ackman considered taking public. The IPO filings for that fund were withdrawn in late July.
