William Ackman announced that his activist hedge-fund Pershing Square Capital Management LP holds about $900 million position in Starbucks Corp, Reuters reports. Fund thinks that the largest coffee chain in the world will be able to overcome sales stagnation in its home market.

Today Starbucks is trying to persuade investors that it will be able to withstand competition on behalf of fast food chains and expensive coffee shops. Last month Starbucks initiated reorganization, which includes changes in leadership and job losses.

While activist funds are known for their pressure on companies’ managers, it seems that Pershing Square Capital Management is satisfied with Starbucks’ steps.

Shares of Starbucks gained 5,5% after news were published and closed 2,1% higher. As a whole, share price has not changed during the year. In Ackman’s opinion, stocks may more than double in next three years, if the company meets its targets.

Pershing Square, which manages $8,4 billion assets, also disclosed its positions in Nike Inc, United Technologies Corp and Lowe’s Companies Inc this year, although fund already exited Nike since then.