13F: Bill Ackman doubles his investments in Nike and Brookfield.

Famous investor Bill Ackman significantly increased his investment in Nike during the third quarter, raising it to a value of $1.4 billion, according to a regulatory filing. At the end of June, this investment was worth around $220 million. Nike is undergoing a major restructuring as it shifts its strategy to selling directly to consumers. The sneaker giant is preparing for the return of veteran executive Elliott Hill, who will take over leadership of the company.

Just last month, Nike canceled its full-year forecast and failed to meet the expected quarterly revenue as it works on improving its product range and rethinking its approach to innovation. Nike’s stock has dropped by more than 30% this year.

Pershing Square also increased its investment in Brookfield during the last quarter, bringing its stake to a value of $1.74 billion, making it the second-largest after Alphabet. Earlier this year, Microsoft signed an agreement with Brookfield Asset Management, the majority shareholder in Brookfield, to invest over $10 billion in renewable energy development to meet the growing demand for artificial intelligence and data centers. Brookfield’s portfolio also includes data center operators.

In addition to these major changes, the hedge fund manager slightly adjusted his investments in Hilton Worldwide Hotels, Restaurant Brands, and Canadian Pacific Kansas City, while keeping his stakes in Alphabet, Chipotle, and Howard Hughes unchanged.