Bill Ackman’s Concentrated Portfolio Strategy: Heavy Bets on Alphabet, Brookfield, and Uber

Billionaire investor Bill Ackman has deployed more than half of Pershing Square Capital Management's $16.5 billion portfolio into just three stocks—Alphabet, Brookfield Corp, and Uber Technologies. The concentrated approach reflects his conviction in deep-value opportunities, mirroring Warren Buffett's focused investment philosophy.

Alphabet commands 22.6% of the portfolio, buoyed by Google Cloud's 34% revenue growth and a strategic partnership to integrate its Gemini AI into Apple's Siri. Brookfield, at 17.7% of holdings, saw carried interest revenue surge 152% in Q3, with its insurance segment poised to triple profits by 2030. Uber represents 15.5% of the portfolio, demonstrating robust 17% user growth and 33% EBITDA expansion despite regulatory scrutiny over autonomous vehicles.

All three positions trade at reasonable valuations—Alphabet at 30x forward P/E, Brookfield at 24x, and Uber at 22x EV/EBITDA. Ackman is simultaneously constructing what he describes as "the next Berkshire Hathaway" through Howard Hughes Holdings, underscoring his long-term, high-conviction investment framework.