Billionaire Bill Ackman Owns $1.8 Billion of This AI Stock — and 38 Wall Street Analysts Recommend Buying It Right Now

It sometimes pays to check out stocks that experts really like. By experts, I’m referring to investors who have achieved tremendous success and analysts who spend most of their time researching stocks.

Bill Ackman is a good example of a wildly successful investor. He has amassed a fortune of close to $4 billion, thanks to shrewd moves with his hedge fund, Pershing Square Capital Management.

The multibillionaire investor doesn’t like many stocks. And several of them aren’t favored by Wall Street. There’s at least one notable exception, though. Ackman owns $1.8 billion of this stock — and 38 Wall Street analysts recommend buying it right now.

Ackman’s top stock

Ackman isn’t a fan of building a highly diversified portfolio. Pershing Square Capital Management owns only eight stocks, but two of the stocks in Ackman’s portfolio are for one company. He owns Alphabet Class A (NASDAQ: GOOGL) shares and Alphabet Class C (NASDAQ: GOOG) shares.

With both classes of shares combined, Google parent Alphabet ranks as Ackman’s top holding. Pershing Square’s stake in the technology giant is currently worth just a tad over the aforementioned $1.8 billion level.

This isn’t a long-held position for Ackman. He initiated a position in Alphabet in early 2023. When the hedge fund CEO first bought the stock, it was down because of a mishandling of the launch of generative artificial intelligence (AI) app Bard. Many investors thought that Alphabet was being left behind by OpenAI’s ChatGPT.

Ackman, however, saw a great opportunity in the pullback. As he told CNBC in September 2023, he believes that Alphabet “will be a dominant player in AI for the very, very long term.”

A lot of Alphabet bulls on Wall Street

Wall Street is largely in agreement with Ackman about Alphabet. Financial information company LSEG surveyed 43 analysts who cover the stock. Thirteen rated Alphabet as a strong buy, with another 25 recommending it as a buy.

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What about the remaining five analysts? All of them…