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VisitBill Ackman's Pershing Square Buys 3 Million Nike Shares, Stock Rises 4.86% in AHs, Reduces Alphabet Holdings
Aug 14, 2024, 08:11 PM
Bill Ackman's Pershing Square Capital Management has made significant changes to its portfolio, notably purchasing 3 million shares of Nike, valued at approximately $229 million. This move has resulted in Nike's stock rising by 4.86% in after-hours trading. The purchase was part of the quarterly 13F filing, which also revealed that Pershing Square reduced its holdings in Alphabet by 19.5%. Ackman's investment in Nike represents a 2% position in his portfolio, a relatively small stake compared to previous investments. The acquisition price for Nike shares was between $88 and $92, although it is noted that Ackman might be underwater on this investment, as the purchase was completed by the end of June.
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