Billionaire Bill Ackman Has 56% of His Hedge Fund's $16.5 Billion Portfolio Invested in 3 Outstanding Stocks

Core Viewpoint - Bill Ackman's investment strategy through Pershing Square Capital shows strong performance in 2025, with potential for continued success in 2026, focusing on building a diversified holding company similar to Berkshire Hathaway [1][2]. Group 1: Alphabet Inc. - Ackman's investment in Alphabet represents 22.6% of his marketable equities, driven by the belief that the market undervalues its AI capabilities and overestimates competition from AI chatbots [3][4]. - Alphabet's Google Cloud revenue grew by 34% year-over-year in Q3, with expanding operating margins and strong adoption of its AI accelerators, TPUs [4][5]. - The company has made significant advancements with its Gemini AI model, leading to a 15% growth in Google Search revenue in Q3 2025, and a partnership with Apple to enhance Siri, expected to generate billions in revenue [5][6]. Group 2: Brookfield Corp. - Brookfield Corp. accounts for 17.7% of Ackman's marketable equities, primarily driven by its subsidiary Brookfield Asset Management, which constitutes about 75% of its value [7][9]. - The company reported $154 million in net carried interest in Q3, a significant increase from $61 million year-over-year, with expectations of $25 billion in net carried interest over the next decade [10][11]. - Brookfield's Wealth Solutions insurance business is projected to double its assets in five years, with a 15% return on equity, leading to strong earnings growth [11]. Group 3: Uber Technologies - Uber Technologies makes up 15.5% of Ackman's marketable equities, facing concerns about competition from autonomous vehicles but positioned as a key partner for self-driving initiatives [12][13]. - The company has seen a 17% increase in monthly active users and a 4% rise in trips per user in Q3, contributing to strong top-line growth and 33% adjusted EBITDA growth [15][16]. - Despite significant investments in future technologies, Uber's stock is valued at around 22 times its trailing adjusted EBITDA, indicating strong growth potential [16].