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Bill Ackman reportedly cashes out of his Nike investment after making about $100 million

Ackman recently exited a much more costly position in Herbalife.

  • Pershing Square CEO Bill Ackman has cashed out his stake in
  • Ackman recently exited a years-long bet in
  • The apparel maker is set to report earnings after the market close on Thursday.

Bill Ackman has dumped his stake in Nike after making about $100 million, Dow Jones reported on Thursday.

Pershing Square, the hedge fund Ackman runs, disclosed a passive stake in a January regulatory filing. The stake totaled 5.836 million shares according to Bloomberg data, and was acquired during the fourth quarter.

Nike shares have climbed nearly 4% this year. The apparel maker is set to report earnings after the market close on Thursday.

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Unlike some other investments Ackman has made, the Nike stake was passive, meaning he didn't snag a large-enough position to clamor for executive or strategic changes at the firm.

It was an apparent win for the activist investor, who recently exited his $1 billion short position in Herbalife that likely cost his firm hundreds of millions of dollars, according to the Journal.

Check out the Wall Street Journal's story here.

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