Bill Ackman Loads Up On Uber In Major Q1 Portfolio Rebalance (CORRECTED)

Editor’s Note: This article has been updated to reflect that Pershing Square converted its Nike stock into call options, maintaining exposure

Bill Ackman could have a new love for the automotive sector with a new investment made in the first quarter and an added position to a stake from the fourth quarter of 2024 that was revealed in April.

Here's a look at Ackman's investment holdings in Pershing Square as of March 31.

First Quarter Changes: Ackman and Pershing Square unveiled a new stake in Uber Technologies UBER in the first quarter with a position of more than 30 million shares. The stake is now the largest holding the Pershing Square portfolio and comes with the investor making several recent moves to his investment strategy.

Ackman increased his stake in Hertz Global Holdings HTZ in the first quarter with the filing showing an 18% increase.

Ackman's stake in Hertz was unveiled via a tweet and an updated SEC filing in April. A 12.7 million share purchase was originally kept from the fourth-quarter holdings document due to a request for confidentiality.

Here were the other increased stakes in the quarter:

• Brookfield Corporation: +18%
• Alphabet Inc Class A GOOGL: +11%

Pershing Square lowered its investments in the following stocks in the first quarter:

• Hilton Worldwide Holdings HLT: -45%
• Google Class C GOOG: -16%
• Chipotle Mexican Grill CMG: -13%
• Canadian Pacific CP: decreased by less than 1%

One notable move in the quarter was Pershing Square’s conversion of its 18.8 million Nike shares into over-the-counter call options, maintaining a similar economic exposure.

Read Also: Bill Ackman Follows Warren Buffett: Hedge Funder Promises ‘Modern Day Berkshire Hathaway’ With Latest Transaction

Ackman's Top Holdings: The newest 13F filing shows 11 stocks owned by Ackman and Pershing Square. Here are the current holdings and their percentage of the investment fund:

• Uber: 19%
• Brookfield: 18%
• Restaurant Brands International QSR: 13%
• Howard Hughes Holdings HHH: 12%
• Chipotle: 9.1%
• Canadian Pacific: 8.7%
• Alphabet Class C: 8.3%
• Alphabet Class A: 5.8%
• Hilton: 5.7%
• Seaport Entertainment Group SEG: 0.9%
• Hertz: 0.5%

The latest 13F filing comes as Ackman is trying to buy control of Howard Hughes and turn it into a diversified holding company to copy the conglomerate style of legendary investor Warren Buffett.

The Pershing Square 13F could look significantly different next quarter.

Read Next:

• Bill Ackman Sells Portion Of Universal Music Stake: ‘One Of The Best Businesses We Have Ever Owned’

Image created using artificial intelligence via Midjourney.