NEW YORK (Reuters) – Billionaire investor William Ackman increased his stake in sportswear company Nike by 15% and cut his investment in fast-casual food chain Chipotle Mexican Grill by 14%, during the fourth quarter, according to a regulatory filing made on Friday.
Ackman’s firm Pershing Square Capital Management owned 18.8 million shares in Nike and 24.7 million shares in Chipotle, a name his firm has owned since 2016.
Once one of Wall Street’s most voluble corporate agitators who pushed for changes at companies ranging from railroad Canadian Pacific Kansas City to industrial gases maker Air Products and Chemicals, Ackman adopted a quieter investment style a few years back but his picks are still closely followed.
The firm has been steadily cutting its investment in Chipotle, one of its big winners in recent years. On June 30, Pershing Square owned 28.8 million Chipotle shares.
The filing, known as a 13F filing, shows what fund managers owned at the end of the previous quarter.
The firm also cut its stake in Hilton Worldwide Holdings by 26% to 5.4 million shares.
Its biggest holding was investment firm Brookfield with roughly 35 million shares.
(Reporting by Svea Herbst-Bayliss; Editing by Will Dunham)
Bill Ackman’s firm, Pershing Square Capital Management, has made some significant moves in their portfolio during the fourth quarter of 2021. One of the notable changes is the firm’s decision to boost its stake in Nike, while cutting its position in Chipotle.
Nike has been a strong performer in the athletic apparel industry, with its stock price showing resilience in the face of market volatility. Pershing Square’s increased investment in the company signals confidence in Nike’s growth potential and long-term prospects.
On the other hand, Pershing Square has reduced its exposure to Chipotle, a popular fast-casual restaurant chain. This decision may be driven by concerns about the company’s valuation or growth prospects, leading the firm to reallocate capital to more promising opportunities.
Overall, Ackman’s firm’s portfolio adjustments reflect a strategic approach to managing risk and optimizing returns for their investors. It will be interesting to see how these moves play out in the coming months and whether they prove to be profitable for Pershing Square.
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