Bill Ackman's new Pershing Square USA fund concentrates 45% of its assets in Microsoft, Meta, and Uber, betting on long-term AI-driven earnings growth.
Ackman highlights strong AI traction with Copilot and Azure growth, expecting 19% EPS growth over 3-5 years.
Ackman identifies Meta as a clear AI beneficiary with accelerating ad revenue and expects 22% EPS growth.
Ackman argues Uber's valuation is disconnected from fundamentals due to network effects and autonomous vehicle partnerships, projecting 25% EPS growth.
Bill Ackman has deployed nearly all capital from his new Pershing Square USA fund, with Microsoft, Meta Platforms, and Uber accounting for 45% of the portfolio. Ackman cites strong AI integration and fundamental growth as key drivers, projecting compound annual EPS growth rates between 19% and 25% for the three companies over the next three to five years.
Ackman views Uber as a critical demand aggregator that will partner with autonomous vehicle producers rather than being displaced by them, leveraging its existing network effects.