Billionaire Bill Ackman Just Bought $2.3 Billion Worth of This Incredible Growth Stock, Which Could Make It His Hedge Fund's Biggest Bet
He praised the management of this market leader with a big competitive advantage.
Bill Ackman is one of the most widely followed investment managers in the world. He's in charge of Pershing Square Capital, a hedge fund focused on investing in just a handful of Ackman's best ideas. His highly concentrated portfolio is full of great companies, but he might have just made one stock the biggest holding at Pershing Square.
Starting in January, Ackman and his team strategically acquired 30.3 million shares of Uber Technologies (NYSE: UBER). Those shares are worth over $2.3 billion as of this writing, as the news of Ackman's position sent shares higher. Based on Pershing Square's positions disclosed in its most recent 13-F filing (as of Sept. 30) with the Securities and Exchange Commission, Uber could now be Pershing Square's largest equity holding.
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