Over the last two quarters, Ackman has built two new significant positions for Pershing Square -- Nike (NYSE: NKE) and Brookfield (NYSE: BN) -- piling an estimated $2.2 billion into those stocks during the third quarter alone. Here's why.

Pershing Square bought roughly 25.9 million shares of Brookfield in Q3, increasing its stake by almost 378%. Brookfield is a dividend stock, but I doubt there's an income investor on the planet who would get excited about the company's dividend.

A screenshot purportedly showing billionaire hedge fund manager Bill Ackman saying on the social media platform Bluesky that it should be acquired and shut down is fabricated and stems from an imposter account,

Unsurprisingly, billionaire investor Bill Ackman added to his position in footwear giant Nike (NYSE:NKE) during the last quarter. As to whether Ackman is finished building his position remains the multi-billion-dollar question.