Billionaire Bill Ackman Has 31% of His Pershing Square Portfolio Invested in 2 Brilliant Stocks

Billionaire Bill Ackman runs Pershing Square Capital Management, a hedge fund that returned 234% over the last five years, crushing the 95% total return in the S&P 500. Pershing Square also beat the benchmark index over the last year and the last decade. That outperformance makes Ackman and his fund a worthwhile case study for investors.A closer look at the fund in the September quarter shows that Ackman had 31.4% of Pershing Square's portfolio invested in two stocks: 17.4% in Alphabet (GOOGL 0.25%) (GOOG 0 ...