Bill Ackmans Pershing Square slashes stake in Chipotle, continues to bet on Nike

Billionaire investor Bill Ackman increased his stake in sportswear company Nike by 15% and cut his investment in fast-casual food chain Chipotle Mexican Grill by 14%, during the fourth quarter, according to a regulatory filing made on Friday.Ackman’s firm Pershing Square Capital Management owned 18.8 million shares in Nike and 24.7 million shares in Chipotle, a name his firm has owned since 2016.Once one of Wall Street’s most voluble corporate agitators who pushed for changes at companies ranging from railroad Canadian Pacific Kansas City to industrial gases maker Air Products and Chemicals, Ackman adopted a quieter investment style a few years back but his picks are still closely followed.The firm has been steadily cutting its investment in Chipotle, one of its big winners in recent years.On June 30, Pershing Square owned 28.8 million Chipotle shares.The filing, known as a 13F filing, shows what fund managers owned at the end of the previous quarter.The firm also cut its stake in Hilton Worldwide Holdings by 26% to 5.4 million shares.Its biggest holding was investment firm Brookfield with roughly 35 million shares....