Diversification, shmiversification. Billionaire Bill Ackman doesn’t subscribe to the theory that he needs to own lots of stocks to be successful.
His Pershing Square Capital Management hedge fund holds positions in a total of only 12 stocks. Nearly one-third of Ackman’s $11.9 billion portfolio is invested in three magnificent growth stocks.
Ackman now has a new top stock in his portfolio. In February, he revealed via a social media post on X (formerly Twitter) that Pershing Square was buying shares of Uber Technologies (NYSE: UBER).