The post Here’s Bill Ackman’s updated stock portfolio appeared on BitcoinEthereumNews.com.

August brought much-anticipated 13F filings from famous investors, allowing stock traders to see what their favorites did in the previous quarter, with much attention turning to Bill Ackman’s Q2 holdings release. On August 14, Bill Ackman’s Pershing Square Capital Management released their stock holdings report for the period leading up to June 30, revealing only nine stocks worth $10,411,824,000 as of then. Only two stock purchases for Ackman in Q2 Ackman decided to reinvest only a tiny portion of his sales profits, buying up stocks from currently undervalued companies and some with excellent future prospects. By buying 6,854,510 shares of Brookfield Corp (NYSE: BN) and making its presence 2.73% in the portfolio, Ackman decided to let others work for him. This Canadian investment company manages over $725 billion in renewable energy, real estate, and infrastructure investments. The second purchase is the acquisition of 3,040,132 shares of Nike (NYSE: NKE) for a 2.20% position in his portfolio; the famous investor decided to place some of his cash into the currently struggling sports brand. NKE shares added 5.07% in the latest trading session after the news of Ackman’s addition. Ackman could be motivated by Nike’s underwhelming Q2 earnings report and the belief that the sportswear brand is strong enough to recover from this temporary setback. “He’s going to have the ear of the executives at Nike and be able to lend some influence on maybe how to get the ship righted, as it were, for Nike at this point in time to try and find their way back home,” noted client portfolio manager at Zacks Investment Management, Brian Mulberry. In late 2017, the billionaire made an investment in Nike at a time when the company was facing a decline in market share in North America, primarily due to increased competition from a…

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Filed under: News - @ August 16, 2024 9:24 am