2. Uber Technologies, Inc. (NYSE:UBER)
Uber Technologies, Inc. (NYSE:UBER) ranks among the 9 best stocks to buy according to billionaire Bill Ackman, representing 15.90% of the total holdings.
As of the end of the fourth quarter of 2025, Uber Technologies, Inc. (NYSE:UBER) ranked as the second-largest investment of Pershing Square. The hedge fund held over 30.21 million shares of Uber Technologies, Inc. (NYSE:UBER), slightly trimming its stake from the previous quarter to approximately $2.47 billion.
Pershing Square pinpointed Uber Technologies, Inc. (NYSE:UBER) in its 2025 annual report as a high-quality, capital-light platform supported by strong network effects. The firm further asserted that third-party AV integrations will likely drive superior fleet utilization and significant operating leverage. Additionally, Pershing Square also highlighted the company’s 20% constant-currency bookings growth, 13.6 billion annual trips, and a robust 50% rise in operating profit in 2025. The report noted that the hedge fund created a position in Uber in early 2025 as it viewed the valuation as attractive.
Their call played well till September 2025, when the stock rallied to nearly $100 from $75 levels in early 2025. But the stock has given up those gains and is now marginally down over the last one year.
Their report also highlighted the supporting factors for Uber’s investment case. It argued,
We believe that AV technology will not be a winner-take-all model and that third-party networks, and Uber in particular, have a valuable role to play. The stock market clearly underappreciates the durability of Uber’s moat, the magnitude of its earnings growth, and the strategic role it will play in shaping the future of mobility. Uber currently trades at less than 20 times our estimate of earnings per share, which is a bargain relative to our expectation that Uber will generate 30% or greater annual earnings per share growth over the medium-term.
It further added, “We believe that the combination of Uber’s rapid earnings-per-share growth and the potential for significant valuation multiple expansion, as investors better appreciate the sustainability of Uber’s future growth prospects and competitive positioning, should drive substantial future share price appreciation.
Meanwhile, at the Morgan Stanley Technology, Media & Telecom Conference on March 2, 2026, CFO Balaji Krishnamurthy articulated Uber Technologies, Inc. (NYSE:UBER)’s strategic pillars: reinvestment in the core business, spending on autonomous vehicle technology, disciplined mergers and acquisitions, shareholders’ returns, and maintaining an investment-grade balance sheet.
Uber Technologies, Inc. (NYSE:UBER) delivered $10 billion in FCF in 2025 and returned more than $6 billion to shareholders. Management also highlighted grocery and retail gross bookings of $12-$13 billion and projected AV deployments up to 15 cities by the end of the year.
Uber Technologies, Inc. (NYSE:UBER)’s CFO, Balaji, purchased shares worth $1.60 million on February 24, 2026. The executive’s purchase followed DA Davidson’s update on the previous day, where the investment firm projected a healthier pricing environment to fuel acceleration in U.S. trip and gross bookings growth.
Uber Technologies, Inc. (NYSE:UBER) is a technology platform offering ride-hailing, food delivery, and freight services through Mobility, Delivery, and Freight segments. The company was founded in 2009 and is headquartered in San Francisco, CA.
