Ackman's Pershing Square takes new stakes in Nike, Brookfield
Adds background on Nike in paragraph 5, updates share prices
By Svea Herbst-Bayliss
NEW YORK, Aug 14 (Reuters) -Billionaire investor William Ackman built new stakes in sportswear company Nike NKE.N and investment management company Brookfield BN.TO during the second quarter, according to a regulatory filing made on Wednesday.
This marks the first new investments for Pershing Square - which oversees roughly $17 billion in assets - since the firm put money into Google parent Alphabet GOOGL.O during the first quarter of 2023.
The filing shows that Ackman's hedge fund Pershing Square Capital Management owned roughly 3 million shares of Nike and 6.8 million shares of Brookfield on June 30. This amounts to a roughly 0.19% ownership of Nike and a roughly 0.34% stake in Brookfield. Nike and Brookfield did not immediately respond to requests for comment.
Nike's stock, which has tumbled 26% since January, rose 4% in after-market trading. Speculation had mounted hours before that an activist investor had taken a stake in the company and would begin pushing it to make improvements, some fund managers told Reuters.
The company's sales growth has slowed as it battles competition from Adidas ADSGn.DE, On ONON.N and Deckers'DECK.N Hoka brand, prompting it to launchcheaper sneakers around the world while pumping up spending on marketing for therecent Olympics.
For Ackman, who cemented his fortune by pushing companies for changes, this marks a return to a company he invested in late 2017 and made a $100 million profit on.
At that time, the investment was a rare passive one for Ackman, a passionate tennis player often photographed wearing the company's shoes, shirts and wristbands. This time, Ackman has not said what his plans are for the investment.
A spokesman for Ackman declined to comment on what Pershing Square's intentions were at Nike and Brookfield.
The filing, a so-called 13F filing that shows what fund managers owned at the end of the previous quarter, also shows that Pershing Square cut its stake in long-time investment Chipotle Mexican Grill CMG.N by 23% during the second quarter. On June 30, Pershing owned 28.8 million Chipotle shares.
Ackman, who had been pressing Chipotle for improvements around the time it suffered set backs from food safety issues, helped recruit Brian Niccol as CEO in 2018, paving the path to 10-fold increase in the burrito maker's stock price. This week Niccol was poached to be Starbucks' SBUX.O new CEO.
Wednesday's filing also showed that Ackman cut his Alphabet Class C holding by roughly 20% to own 7.5 million shares and reduced his Alphabet Class A share ownership to 3.9 million, cutting it by 8.5%.
Even after Ackman declared in 2022 that he would abandon his aggressive activist agenda for a quieter investing style, he has made headlines. Last month he abruptly canceled plans for launching a super-sized investment fund aimed, in part, at retail investors in the U.S.
Through early August, Ackman's Pershing Square Holdings fund lost 4.4% while the broader stock market has gained 15% since January.
Reporting by Svea Herbst-Bayliss; Editing by Sayantani Ghosh and David Gregorio
免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。