Why Bill Ackman's Top 3 Hedge Fund Holdings Are Must-Buy AI-Driven Growth Stocks

The latest 13F filing for Bill Ackman's Pershing Square Capital Management reveals a bold pivot toward growth-oriented sectors, anchored by three high-conviction holdings: Uber Technologies (UBER), Brookfield Corp (BN), and Restaurant Brands International (QSR). These positions, totaling nearly 40% of the $11.9 billion portfolio, reflect a calculated bet on companies poised to capitalize on secular trends in AI, cloud computing, and data-driven innovation—despite near-term macroeconomic headwinds. Here's why these stocks are must-buy opportunities for long-term investors.

1. Uber Technologies (UBER): Mobility's AI-Powered Future

Undervaluation: Uber's Q1 2025 valuation of $2.2 billion in Pershing Square's portfolio suggests Ackman sees it as undervalued relative to its growth trajectory. The stock trades at just 5x forward EV/EBITDA, a stark contrast to its peers in the mobility sector.
AI/Cloud Advantage: Uber's core business—ride-hailing—now accounts for less than half its revenue. The firm is pivoting to delivery logistics, autonomous driving, and enterprise solutions, all of which rely on AI-driven optimization. Its Advanced Technologies Group (ATG) is developing self-driving systems that could redefine transportation economics. Meanwhile, Uber Freight and Uber Works leverage machine learning to match drivers with cargo and labor opportunities in real time.
Growth Potential: The global mobility-as-a-service (MaaS) market is projected to hit $1.2 trillion by 2030. Uber's multi-modal platform, integrating bikes, scooters, and autonomous vehicles, positions it to dominate this space.
Near-Term Headwinds: Regulatory hurdles in Europe and rising competition from EV startups like Rivian could pressure margins in the short term. However, show a 30% rebound since early 2024, suggesting investor confidence in its transformation.

2. Brookfield Corp (BN): Infrastructure's AI-Driven Efficiency Play

Undervaluation: Brookfield's $2.15 billion stake in Pershing Square's portfolio signals its undervaluation. The stock trades at a 20% discount to its net asset value (NAV), despite owning high-quality infrastructure assets like data centers, renewable energy, and logistics hubs.
AI/Cloud Advantage: Brookfield's smart infrastructure investments—from AI-powered grid management to predictive maintenance for airports—leverage machine learning to reduce operational costs and improve reliability. For example, its portfolio includes Equinix, a global data center leader, and renewable energy projects that use AI to optimize solar/wind output.
Growth Potential: The global infrastructure spend is projected to hit $94 trillion by 2040, with digitally enabled assets commanding premium valuations. Brookfield's focus on ESG-aligned projects and its $60 billion backlog of greenfield investments make it a leader in this space.
Near-Term Headwinds: Elevated interest rates and inflationary pressures could delay project approvals. However, highlights its defensive cash flow profile, which should stabilize returns during volatility.

3. Restaurant Brands International (QSR): Fast Food's Data-Driven Evolution

Undervaluation: QSR's $1.5 billion portfolio stake reflects its undervaluation at 25x forward earnings—below its historical average and peers like McDonald's. This discounts the potential of its global franchises (Burger King, Tim Hortons) to grow in emerging markets.
AI/Cloud Advantage: QSR is digitizing its supply chain and customer experience through AI. For instance, Tim Hortons' app uses predictive analytics to optimize delivery routes, while Burger King's “Voice Order” feature leverages natural language processing (NLP). The firm's centralized data platform also identifies menu trends in real time, enabling faster rollouts of popular items like plant-based burgers.
Growth Potential: The global fast-food market is set to grow at 5% CAGR through 2030, fueled by urbanization and digital adoption. QSR's franchise model, with 80% of locations under third-party operators, ensures scalability without capital dilution.
Near-Term Headwinds: Rising food and labor costs could squeeze margins. However, shows consistent expansion despite inflation, underscoring its pricing power.

Investment Thesis: A Structural Growth Play

Ackman's portfolio rebalancing—exiting legacy sectors like railroads and doubling down on these three—is a masterclass in value investing with a tech lens. All three stocks benefit from:
- AI-driven operational efficiency: From optimizing logistics (Uber) to reducing energy waste (Brookfield) to personalizing menus (QSR).
- Scalable business models: Enabled by cloud infrastructure and data analytics.
- Structural tailwinds: Urbanization, decarbonization, and digitization are irreversible trends favoring these companies.

While near-term risks like interest rate hikes or macroeconomic slowdowns may pressure valuations, long-term investors should buy the dip. These stocks represent undervalued engines of innovation in sectors where AI is already reshaping profitability.

Action Items:
1. Buy UBER on dips below $45 (current price: $52) to capture its autonomous driving and enterprise growth.
2. Add BN on a pullback to $55 (current: $60) for exposure to AI-optimized infrastructure.
3. Accumulate QSR below $70 (current: $75) to benefit from its digital-first fast-food strategy.

In a world where growth is scarce, these three holdings are the real deal.

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