Sands Capital Exits Nike in Q2 Amidst Global Growth Strategy

Sands Capital's Global Growth Strategy exited Nike (NKE) in Q2, citing the company's large size and potential for less upside potential. The portfolio returned 21.7% in the quarter, outperforming the MSCI ACWI's 11.5%. NIKE's one-month return was -4.60%, with a market capitalization of $107.44 billion.

In a significant development, Nike (NKE) has entered a new strategic alliance with FC Barcelona, which aims to bolster its global retail and licensing business. This agreement, effective retroactively from the beginning of the 2024/2025 season, underscores Nike's commitment to innovation and excellence in the sports industry FC Barcelona and Nike, a renewed strategic alliance^[1].

The partnership between Nike and FC Barcelona highlights three main strategic areas: sponsorship rights, product licensing, and support for retail and eCommerce operations. The agreement includes a structured commercial model with increased sponsorship remuneration, sustained growth in sponsorship, and a focus on promoting equality in sports. Additionally, Nike will maintain exclusivity in technical products while the Club develops monobranded products and strategic alliances with non-Nike competitors FC Barcelona and Nike, a renewed strategic alliance^[1].

Nike's role in FC Barcelona's retail operations will be pivotal, with the objective of reaching 200 million euros per season in the short term and exceeding 300 million euros in the medium term. The agreement also grants Nike privileged visibility at the Club's venues and access to players and gamers for content development and exclusive hospitality experiences FC Barcelona and Nike, a renewed strategic alliance^[1].

Meanwhile, Nike has been the subject of significant market activity. Jones Financial Companies Lllp significantly reduced its holdings in NIKE, Inc., selling 240,078 shares during the first quarter of 2025. The firm now holds 48,877 shares valued at approximately $3.2 million. Other large investors have also made notable moves, with Legacy Wealth Management LLC increasing its holdings by 736.3% and Talon Private Wealth LLC increasing its stake by 19.5% during the same period Jones Financial Companies Lllp Has $3.19 Million Position in NIKE, Inc. $NKE^[2].

The company's stock performance has been mixed, with shares trading down $1.22 to $73.12 on Friday, September 12, 2025. NIKE's one-month return was -4.60%, and its market capitalization stood at $107.44 billion. Despite the recent sell-off, analysts remain optimistic, with several firms rating the stock as a "Moderate Buy" with a consensus target price of $78.67 Jones Financial Companies Lllp Has $3.19 Million Position in NIKE, Inc. $NKE^[2].

Sands Capital's Global Growth Strategy exited Nike in Q2, citing the company's large size and potential for less upside potential. The portfolio returned 21.7% in the quarter, outperforming the MSCI ACWI's 11.5%. The decision to exit NIKE reflects a strategic shift towards smaller-cap opportunities with higher growth potential Jones Financial Companies Lllp Has $3.19 Million Position in NIKE, Inc. $NKE^[2].

References

FC Barcelona and Nike, a renewed strategic alliance^[1] https://www.fcbarcelona.com/en/card/4222576/fc-barcelona-and-nike-a-renewed-strategic-alliance
Jones Financial Companies Lllp Has $3.19 Million Position in NIKE, Inc. $NKE^[2] https://www.marketbeat.com/instant-alerts/filing-nike-inc-nke-shares-sold-by-jones-financial-companies-lllp-2025-09-11/