TLDR
- Bill Ackman concentrates 45% of his $13.7 billion fund in three tech stocks
- Uber dominates with 21% allocation, targeting a potential $918 billion ride-sharing market by 2033
- Alphabet holds 15.1% through both share classes, leveraging AI in Google Cloud
- Amazon accounts for 9.3%, with AWS leading cloud infrastructure at 32% market share
- Strategy mirrors Warren Buffett’s concentrated investing approach with focus on AI growth
Activist investor Bill Ackman has made an aggressive bet on artificial intelligence through his hedge fund Pershing Square Capital Management. The billionaire has allocated 45% of his $13.7 billion fund to just three technology companies, bucking traditional diversification wisdom.
Ackman’s concentrated approach focuses on businesses he believes can unlock major shareholder value. His 11-stock portfolio places massive emphasis on companies positioned to benefit from AI advancement and autonomous technology growth.
Uber Technologies commands the largest position at 21% of total assets. The ride-sharing leader has maintained 68% to 76% U.S. market dominance since 2017, transforming from an unprofitable startup into a profitable operation.
The global ride-sharing market offers enormous expansion potential. Industry research projects growth from $87.7 billion in 2025 to over $918 billion by 2033, representing 21% compound annual growth. Uber operates beyond ride-sharing through Uber Eats delivery and freight logistics, benefiting from extended economic expansion cycles.
Google’s AI Cloud Expansion Drives Growth
Alphabet represents 15.1% of Ackman’s portfolio through Class A and Class C shares combined. Google maintains overwhelming search dominance with 89% to 93% global market share, providing exceptional advertising pricing power.
Google Cloud serves as the company’s fastest-growing segment with 32% quarterly growth and $54 billion annual revenue run-rate. The platform ranks third globally in cloud infrastructure services while integrating generative AI solutions for enterprise clients.
Alphabet trades at 22 times forward earnings, making it the most affordable stock among the “Magnificent Seven” technology giants. The valuation reflects reasonable pricing for sustained double-digit growth and strong cash flow generation.
Amazon’s AWS Dominates Cloud Computing
Amazon occupies 9.3% of Ackman’s holdings as his third-largest position. While e-commerce generates most revenue, Amazon Web Services produces the majority of operating income through cloud infrastructure leadership.
AWS controls 32% of global cloud infrastructure spending, more than triple Google Cloud’s market share. The platform achieved over $123 billion annual sales through aggressive AI and machine learning service expansion.
Amazon applies artificial intelligence across retail operations to optimize inventory placement, product recommendations, and delivery routing. The company uses AI to improve warehouse robot navigation and enable natural language worker communication.
Subscription services maintain steady growth through exclusive NFL and NBA content deals. Advertising services sustain approximately 20% year-over-year growth from billions of monthly platform visitors.
Autonomous Vehicle Partnership Strategy
Uber positions itself as the primary partner for autonomous vehicle deployment across global markets. The platform connects riders with robotaxis in Phoenix, Austin, Atlanta, and Abu Dhabi through partnerships with Waymo and WeRide.
CEO Dara Khosrowshahi estimates autonomous driving could create a trillion-dollar U.S. opportunity. Uber maintains relationships with 20 autonomous vehicle companies and plans five additional market launches through 2025, with more scheduled for 2026.
Ackman began purchasing Amazon shares during Q2 2025, with Pershing Square expressing confidence in the company’s ability to navigate cloud computing headwinds and minimal tariff impacts on retail operations.
