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Bill Ackman's Bold Bet: Why Uber Is His Top Holding
Uber stock is up big, and billionaire investor Bill Ackman is betting the run isn't over.
When a high-profile investor like Bill Ackman makes a bold portfolio move, it's worth paying attention. And in 2025, Ackman did exactly that: Earlier this year, he revealed a massive stake in Uber Technologies (NYSE: UBER), a move that made the rideshare platform his largest holding.
Uber has long been a controversial stock, burning cash in its early years, dogged by regulatory battles, and constantly trying to prove its business model was sustainable. But that narrative is quickly changing. With strong free cash flow, a growing delivery business, and upside from autonomous vehicle partnerships, Uber looks like a very different company today.
Ackman's conviction is clear. As of this spring, Uber accounted for nearly 19% of Pershing Square's equity portfolio. And based on how the business is performing, he may be right to go big.
