Billionaire William (Bill) Ackman is a successful fund manager and a celebrity on Wall Street. He's famous for operating his hedge fund Pershing Square Holdings, which holds a whopping $10 billion in net assets.

Such a large portfolio hasn't prevented Ackman from placing large bets on his high-conviction ideas. For example, home improvement retailer Lowe's Companies (NYSE: LOW) is 23% of his publicly reported portfolio, worth approximately $2 billion.

So what does Ackman see in Lowe's? Here are three areas where the company shines and why the stock's still worth considering for your portfolio today.

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Source Fool.com