Bill Ackman’s Pershing Square bought and sold these shares in the second quarter

Purchased Pershing Square from Bill Ackman Nike (NKE) And Brookfield (BN) for the first time in the second quarter, a filing showed late on Wednesday. The hedge fund titan has slashed major holdings Chipotle Mexican Grill (CMG) And Alphabet (GOOGL). Nike shares fell nearly 5% in extended trading after closing flat.

Here are Bill Ackman’s stock purchases and sales in the second quarter

In the second quarter, Pershing Square acquired more than 3 million shares of Nike worth about $229 million, according to a 13F filing with regulators, as tracked by whalewisdom.com. Shares of Nike had tumbled in late June after the sneaker giant reported a surprise quarterly sales decline amid intense competition.

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Also in the second quarter, Pershing Square purchased 6.9 million shares of Brookfield, an investment management company. Pershing made sharp cuts to major positions in Chipotle and Google parent Alphabet during the period.

Ackman made smaller cuts to its holdings in the second quarter Hilton Hotels (HLT) And Canadian Pacific Railroad (C.P). He left a position Howard Hughes (HHH), a real estate holding company, unchanged.

Pershing Square Portfolio

Pershing Square, which describes itself as a fundamental value investor, opened a position in Chipotle, the burrito chain, in 2016 when it faced food safety issues. The stock remains a top position after the cuts in the second quarter.

Ackman first bought Google shares in the first quarter of 2023, when the shares had fallen to a two-year low, staying true to his image as more of a value investor than many of his peers. Even after the cuts in the second quarter, it remains a large holding company.

Other holdings in Pershing Square’s highly concentrated portfolio include parent company Burger King Restaurant brands (QSR). This includes Universal Music Group, which is not publicly traded on the US market.

The social influence of Bill Ackman, a smaller IPO

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Chipotle shares lost 4 cents in Wednesday’s stock market trading after falling 7.5% on Tuesday. The CEO left for Starbucks (SBUX). CMG stock has fallen since hitting an all-time high in June.

An Aug. 3 Fortune report said Ackman’s flagship Pershing Square fund had wiped out most of its 2024 gains in the last half of July. But it has delivered market-beating returns over the past twenty years.

Ackman withdrew plans for an initial public offering of Pershing Square USA at the end of July. That came after its fundraising target shrank from an initial $25 billion to $2 billion before the IPO was withdrawn.

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