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Bill Ackman is the founder and CEO of Pershing Square Capital Management, an activist hedge fund. Among the most popular investors on Wall Street, Ackman recently disclosed a significant position in Uber Technologies (UBER). According to recent 13F filings, Pershing Capital acquired 30.3 million shares of Uber valued at $2.3 billion, driving shares of the ride-hailing company higher in recent trading sessions.
Ackman is bullish on Uber stock and has praised the company’s transformation into a highly profitable, cash-generating business. The hedge fund manager expects Uber’s gross bookings to grow by 18% year-over-year in the first quarter of 2025.
Meanwhile, Uber’s management forecast adjusted EBITDA growth in the high 30%-40% range over the next three years, outpacing bookings growth. This supports Ackman’s bullish outlook on the company’s valuation potential.
While Uber remains a top investment choice in 2025, Ackman’s hedge fund has added three other stocks to its portfolio.
Stock #1: Brookfield
Valued at a market cap of $89.5 billion, Brookfield (BN) is an alternative asset manager that invests in verticals such as real estate, renewable power, infrastructure, and private equity. Brookfield invests its capital and funds from institutional and retail clients, targeting premium assets across various geographies.
In private equity, Brookfield focuses on acquisitions, buyouts, turnarounds, and restructuring of underperforming companies, with underlying real assets. The firm typically invests between $2 million to $500 million, taking either minority or majority stakes.
With a focus on infrastructure development, Brookfield is targeting a $100 trillion global infrastructure fund over the next 15 years, which includes $8 trillion for AI-related infrastructure. It aims to deliver annualized returns of 15% to shareholders while it projects earnings to grow by 20% annually over the next five years. Analysts expect Brookfield’s adjusted funds from operations (FFO) per share to expand to $3.62 per share in 2025, up from $3.18 per share in 2024. So, priced at 16.2x forward AFFO, Brookfield stock is reasonably valued.
Out of the eight analysts tracking BN stock, five recommend “Strong Buy,” two recommend “Moderate Buy,” and one recommends “Hold.” The average target price for the stock is $68, indicating upside potential of almost 18% from current levels.
Stock #2: Nike
Among the most recognizable brands globally, Nike (NKE) has trailed the broader markets by a wide margin in recent years. Nike’s sales are forecast to decline to $46 billion in fiscal 2025, from $51.36 billion in fiscal 2024.
Nike’s weakened sales outlook in China, a strong dollar, and underperformance in its e-commerce segment, have all contributed to slower growth over the past year. Moreover, the company faces margin pressures and inventory challenges driven by shifts in consumer spending as Nike is cutting back on oversupplied brands.
Down almost 60% from all-time highs, Nike currently trades at a lower multiple in 2025. Analysts expect Nike to expand adjusted earnings per share from $2.07 in fiscal 2025 to $3 per share in 2027. So, priced at 24x forward earnings, NKE stock is not too expensive if it can shore up profit margins over the next two years.
Out of the 33 analysts covering NKE stock, 15 recommend “Strong Buy,” one recommends “Moderate Buy,” 15 recommend “Hold,” and two recommend “Strong Sell.” The average target price for NKE stock is $83.27, above the current trading price.
Stock #3: Chipotle Mexican Grill
The final Bill Ackman stock on the list is Chipotle Mexican Grill (CMG), which is down 18% from its all-time highs. With a market cap of $76 billion, CMG stock has created massive wealth for long-term shareholders, returning over 6,000% since its initial public offering in January 2006.
Chipotle’s growth story is far from over, given its revenue rose by 13.1% year over year to $2.8 billion, continuing its streak of double-digit growth since 2020. It added 119 new locations in Q4, ending the year with 3,726 stores, and same-store sales grew by 5.4%. Chipotle targets 7,000 North American stores with an average annual sales of $4 million, indicating a $28 billion opportunity.
Priced at 36.6x forward earnings, CMG stock is quite expensive. Out of the 31 analysts covering CMG stock, 20 recommend “Strong Buy,” two recommend “Moderate Buy,” and nine recommend “Hold.” The average target price for CMG stock is $66.58, above the current trading price.
