The Motley Fool·2026-02-27 08:15Core Viewpoint - Hedge fund manager Bill Ackman aims to transform Howard Hughes Holdings into a modern version of Berkshire Hathaway, starting with the acquisition of Vantage Group, a specialty insurance and reinsurance company [1][2]. Investment Focus - Ackman's hedge fund, Pershing Square Capital Management, has a strong track record, outperforming the S&P 500 by 40 percentage points over the past decade [2]. - The fund has 55% of its assets invested in four artificial intelligence stocks, with a focus on Uber and Amazon due to their significant upside potential [2]. Uber Technologies - Uber constitutes 16% of Ackman's portfolio, with a current share price of $73 and a median target price of $105, indicating a 46% upside [6]. - The company operates the largest ridesharing and food delivery platform globally, positioning itself as a key player in the commercialization of autonomous driving technology, with plans to deploy 100,000 robotaxis by 2027 [4][7]. - Uber collaborates with Alphabet's Waymo and other partners to expand its robotaxi services in various cities, including Phoenix, Austin, and Abu Dhabi, with plans to extend to 12 more cities by 2030 [5]. - Ackman anticipates Uber's adjusted earnings to grow at over 30% annually, slightly above Wall Street's consensus of 25% growth [7]. Amazon - Amazon represents 14% of Ackman's portfolio, with a current share price of $209 and a median target price of $285, suggesting a 36% upside [6]. - The company leads the online marketplace in North America and Western Europe, with its retail business expected to become more profitable through advancements in AI and robotics [8]. - Amazon Web Services (AWS) holds a 41% market share in cloud infrastructure, providing a strong foundation for monetizing AI demand [10]. - The company has developed numerous generative AI applications to enhance operational efficiency, resulting in a 1.5 percentage point increase in operating margin and a 24% revenue growth for AWS in the fourth quarter [9][11].