Billionaire Bill Ackman Has Almost 20% of his Pershing Square Portfolio Invested in This Artificial Intelligence (AI) Growth Stock
Bill Ackman doesn't make small bets across dozens of stocks but instead focuses on a small number of players that have what it takes to soar over time. As of the end of 2023, his $10 billion portfolio at Pershing Square Capital Management included just seven positions. That's how the billionaire founder and chief executive officer of this hedge fund has delivered long-term winnings for investors, outpacing the S 500 over the past five years.
Ackman is applying this same strategy to the high-growth area of artificial intelligence (AI), making one big bet on a potential winner. In fact, this stock is one of his newest positions, with Ackman adding the shares just last year. And it's a considerable bet, making up nearly 20% of the billionaire's entire portfolio.
Which AI stock is Ackman going all in on? A player many of us know well thanks to its Google Search platform, one that holds more than 90% of the global market. I'm talking about (NASDAQ: GOOG) (NASDAQ: GOOGL), a company with an "unmatched business model," according to Ackman. Let's take a closer look at why Ackman likes this growth stock and if it's an AI stock to buy now...
Source Fool.com
Alphabet Inc. C Stock
With 27 Buy predictions and not a single Sell prediction Alphabet Inc. C is an absolute favorite of our community.
As a result the target price of 165 € shows a slightly positive potential of 9.94% compared to the current price of 150.08 € for Alphabet Inc. C.
