Nike Shares Rise After Ackman Discloses New Stake
Billionaire Investor William Ackman Builds New Stakes in Nike and Brookfield
Shares of Nike gained in late trading after Pershing Square Capital Management LP disclosed a new stake.
Billionaire investor William Ackman has built new stakes in sportswear company Nike Inc. and investment management company Brookfield Asset Management Inc., according to a regulatory filing.
The filing, made with the U.S. Securities and Exchange Commission on Monday, shows that Ackman's hedge fund, Pershing Square Capital Management, owned roughly 3 million shares of Nike and 68 million shares of Brookfield as of June 30.
- The value of Ackman's Nike stake was roughly $1 billion, based on the company's closing share price on Monday.
- The value of Ackman's Brookfield stake was roughly $5.5 billion, based on the company's closing share price on Monday.
Ackman's investment in Nike is a new position for his hedge fund. Ackman's investment in Brookfield is an increase from the 61 million shares that Pershing Square owned as of March 31.
Nike shares rose about 5% in after-hours trading on Monday after the disclosure of Ackman's stake. Brookfield shares were little changed in after-hours trading.
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