The hedge fund also trimmed positions in Alphabet and Chipotle Mexican Grill.
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.
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.
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