Bill Ackman’s Pershing Square is ditching Nike after a brutal year, dumping 18.7 million shares worth $1.37 billion as the sneaker giant stumbled with a 31% stock plunge. The hedge fund boss isn’t crying over spilled swooshes though – he’s betting big on Uber Technologies instead, making it nearly 19% of his portfolio. Seems Ackman thinks ride-hailing has more zoom than shoes right now. The real story behind this dramatic pivot might surprise you.
Bill Ackman’s Pershing Square just gave Nike the boot. The hedge fund manager completely liquidated his massive 18.7 million share position in the sportswear giant during Q1 2025, marking a dramatic end to less than a year of ownership. The exit came amid Nike’s operational stumbles and persistent share price volatility that left investors sweating – and not from exercise.
Ackman’s Pershing Square dumped Nike after less than a year, unloading 18.7 million shares amid the sportswear giant’s rocky performance.
The breakup was swift and decisive. Pershing Square had built its Nike stake methodically, starting with 3 million shares in Q2 2024 before quadrupling down after a post-earnings dip. By the time Ackman was done accumulating, his Nike position topped $1.4 billion. The fund simultaneously increased its stake in Brookfield Corp by 6.1 million shares.
But love affairs in the stock market can be fickle, especially when “Liberation Day” tariffs and trade tensions start cramping your style. Nike’s stock has taken a particularly hard hit, with shares plummeting over 31% in the past year. Market activity followed typical supply and demand principles as investors reacted to the news.
Ackman didn’t waste time finding a new dance partner. The billionaire investor promptly redirected his attention – and capital – to Uber Technologies, pouring nearly 19% of Pershing Square’s portfolio into the ride-hailing giant. Talk about jumping from sneakers to sedans.
The move reflects Ackman’s knack for making concentrated bets on high-conviction ideas, even if it means leaving old favorites behind.
The Nike exit, executed at around $73 per share, generated approximately $1.37 billion in proceeds. While the sportswear company struggled with heightened competition and macroeconomic headwinds, Ackman apparently spotted greener pastures in the tech sector’s growth potential.
The market took notice – his departure from Nike sent ripples through financial media circles and raised eyebrows among institutional investors.
Sometimes breaking up isn’t hard to do, especially when you’ve got your sights set on something shinier. For Ackman, ditching Nike’s volatile performance for Uber’s potential upside was apparently an easy call.
As they say in the investment world: when the shoes don’t fit anymore, it’s time to catch a ride somewhere else.
