David Katz's Matrix Asset Advisors sold its entire position in NIKE Inc. during the third quarter of 2026, according to a recent SEC filing. The disclosure, which reflects trades made between June 30 and September 30, reveals the firm sold over 223,000 shares, valued at approximately $9.18 million. This divestment coincided with a challenging period for the athletic apparel giant.
In early October, NIKE announced plans for significant job cuts and a corporate overhaul aimed at saving $2.5 billion, following a sales slump and a disappointing outlook for the fiscal year. The company has faced declining sales in China and is working to improve its Sportswear and Jordan brands. These developments provide a potential backdrop for Matrix's decision to exit its stake, a move revealed in a delayed quarterly filing.