Bell Global Equities Fund, managed by Bell Asset Management, released its latest investor update, available for download. March saw heightened volatility due to the Middle East conflict, with the MSCI World ex Australia Index falling 2.5% and the Bell Global Equities Fund (Wholesale class) declining 3.1%. The portfolio’s underweight in Energy was the primary headwind to relative performance, compounded by poor stock selection in Communication Services, Health, and Energy. A tentative ceasefire in early April has helped stabilize sentiment and reverse some March declines. Future market trends depend on the ceasefire’s durability and how ongoing energy supply disruptions affect inflation and growth through 2026. In addition, the ongoing AI disruption narrative is significantly influencing market behavior, causing indiscriminate selling across various sectors. The recent weakness appears to be sentiment-driven rather than fundamental deterioration, thus creating opportunities. In addition, please check the Strategy’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Bell Global Equities Fund highlighted NIKE, Inc. (NYSE:NKE). Headquartered in Beaverton, Oregon, NIKE, Inc. (NYSE:NKE) is a multinational company that designs, develops, and sells athletic and casual footwear, apparel, and equipment. On June 5, 2026, NIKE, Inc. (NYSE:NKE) closed at $42.98 per share. One-month return of NIKE, Inc. (NYSE:NKE) was 2.69%, and its shares lost 29.69% over the past 52 weeks. NIKE, Inc. (NYSE:NKE) has a market capitalization of $64.57 billion.
Bell Global Equities Fund stated the following regarding NIKE, Inc. (NYSE:NKE) in its Q1 2026 investor letter:
“In terms of exits, NIKE, Inc. (NYSE:NKE) was among the more notable disposals during March, with the position closed ahead of its latest earnings release. This was a position initiated late last year as confidence grew that the turnaround under new management was gaining traction. In the prior quarter, inventories had been brought under control, tariffs were well incorporated into margin forecasts, and the important US business delivered a second consecutive quarter of accelerating growth in the key wholesale channel. However, following the escalation of conflict in the Middle East and the associated inflationary pressures, we saw increasing risks to the recovery and therefore decided to exit ahead of what we feared could be a softer earnings print.”
NIKE, Inc. (NYSE:NKE) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 71 hedge fund portfolios held NIKE, Inc. (NYSE:NKE) at the end of the first quarter, compared to 82 in the previous quarter. While we acknowledge the potential of NIKE, Inc. (NYSE:NKE) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.