Trader Tracker: Brian Belski sells Nike, Prologis & Restaurant Brands and buys Lululemon

Portfolio Adjustments - The desk sold Nike, Prologis, and Restaurant Brands, all large-cap stocks [1] - Restaurant Brands was sold due to its significant presence in Canadian portfolios, making it less suitable for the US value portfolio [1] - Prologis was sold to increase exposure to utility names like Southern and Nexta, considered better plays than REITs [3] - Nike was replaced with Lululemon, viewed as a more opportunistic investment [2] Investment Rationale - The firm believes the bounce back in Nike shares may be limited [4] - The firm believes the worst is over for Lululemon, citing its valuation of 15 times earnings as a broken growth stock opportunity [5] - The firm aims to identify and invest in broken growth names within a value strategy [5]