Billionaire Bill Ackman is a prominent hedge fund manager well known for holding a relatively small number of high-conviction stocks. His firm, Pershing Square Capital Management, currently has $12 billion invested in 11 companies.
Ackman made a few interesting capital allocation decisions in the first quarter. He sold shares of megacap Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) and bought Uber Technologies (NYSE: UBER), a stock that has returned 266% since January 2023. The trades are detailed below:
Here’s what investors should know about Alphabet and Uber.