Billionaire hedge fund manager Bill Ackman is shaking up Pershing Square Capital Management’s investment portfolio with some major moves. One of the most significant changes is the purchase of 25.9 million shares of alternative asset management firm Brookfield Corporation, according to a report from The Motley Fool.
This move represents a substantial increase in Pershing’s stake in Brookfield, with the new investment totaling about 378%. As a result, Brookfield now ranks as one of the largest holdings in the firm’s portfolio, trailing only behind its positions in Alphabet Class A and Class C.
In addition to the significant investment in Brookfield, Ackman also boosted Pershing Square’s position in Nike by adding 13.2 million shares of the apparel giant. The combined value of these new investments in both Brookfield and Nike amounts to approximately $2.3 billion.
While Brookfield has exhibited strong growth throughout the year, Nike has faced challenges with declining revenue and earnings. The sportswear company’s stock has experienced a 30% drop over the past year and currently sits about 60% below its all-time high of $171.71 reached in 2021.
Aside from these recent moves, Pershing Square’s portfolio includes holdings in companies such as Chipotle Mexican Grill, Restaurant Brands International, Hilton Worldwide Holdings, Canadian Pacific Railway, Howard Hughes Corporation, and Universal Music Group. As of the end of April, the firm managed a total of $18.3 billion in assets.
For the latest updates on Ackman’s investment strategies and portfolio adjustments, be sure to subscribe to receive email alerts directly to your inbox. Additionally, stay informed on price action trends by following us on Twitter, Facebook, and Telegram. Don’t miss out on the latest news and insights from The Daily Hodl Mix.
(Image Source: Midjourney)