By Svea Herbst-Bayliss
NEW YORK (Reuters) -Billionaire investor William Ackman built new stakes in sportswear company Nike and investment management company Brookfield, during the second quarter, according to a regulatory filing made on Wednesday.
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.
Nike’s stock, which has tumbled 26% since January, jumped nearly 5% 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.
For Ackman, who cemented his fortune by pushing companies for changes, this marks a return to a company he invested in 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.
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 by 23% during the second quarter.
(Reporting by Svea Herbst-Bayliss; Editing by Sayantani Ghosh)
