Nike Shares Pop As Bill Ackman’s Pershing Square Unveils $229 Million Package Via Investing.com

Actions of NIKE Inc (NYSE: ). It gained 5.1 percent in afterhours trading Wednesday after Pershing Square Capital Management LP, the hedge fund run by billionaire investor Bill Ackman, disclosed a new position in the sportswear giant.

The stake, which includes about 3 million shares, was valued at about $229 million at the end of the second quarter.

The disclosure was made in a 13F filing, a quarterly report filed by institutional investment managers with the US Securities and Exchange Commission that provides information about their holdings.

Pershing Square’s acquisition of shares adds to its investment portfolio, which also saw the addition of new holdings in investment management company Brookfield during the same period.

The announcement of these new positions drew attention to the investment strategies of Ackman, who is known for his high-profile bets on the market.