Hedge fund titan Bill Ackman is well-known for his outspoken investments in companies like Valeant and Mondelez, as well his very public and controversial bet against multilevel nutrition company Herbalife.
However, it's a recent investment in three Columbia Business School students that is grabbing the attention of some on Wall Street.
This week, the billionaire held the final elimination round to his "Pershing Square Challenge," a three-month competition that was launched by the Pershing Square founder and CEO in 2008.
Each year, roughly 40 teams consisting of first- and second-year Columbia Business School students compete to present their best investment idea and thesis to Ackman and a panel of judges. This year's panel included billionaire hedge fund manager John Paulson and CNBC "Fast Money's" own Karen Finerman. The grand prize for the winning team was $100,000.
The 2016 winning team was a trio of female students — Melody Li, Joanna Vu, and Thais Fernandes — who pitched a plan to boost the stock of Canadian convenience store giant Couche-Tard.