From June to September, Ackman made two big moves in the hedge fund managed by his Pershing Square Capital. With its stock down 9.1% over the past three months, it is easy to disregard NIKE (NYSE:NKE).

After disclosing a new stake in Nike (NYSE:NKE) in Q2, Bill Ackman's Pershing Square Capital Management more than quintupled that position among its third quarter moves. Pershing Square disclosed the information in its latest 13F filing for the three months ended September 30,