Bill Ackman is following in Warren Buffett’s footsteps, transforming Howard Hughes Holdings into a diversified holding company. With a strategy similar to Berkshire Hathaway, he plans to add an insurance business to boost shareholder value. His highly concentrated portfolio includes big investments in Uber, Alphabet, and Brookfield.

Uber Technologies, comprising 19.1% of Ackman’s portfolio, has proven to be a successful investment so far. The company’s partnerships with autonomous vehicle makers like Alphabet’s Waymo are helping scale operations and expand to new cities. Uber’s financial performance is strong, with growing EBITDA margin and $8.5 billion in free cash flow over the past year.

Alphabet, accounting for 18.4% of Ackman’s holdings, has seen accelerated search revenue and strong growth in its Google Cloud business. A recent antitrust ruling provided clarity and a boost in the company’s value. Despite this, the stock trades at less than 25 times forward earnings estimates, making it an attractive investment among AI growth stocks.

Brookfield Corporation, making up 17.8% of Ackman’s portfolio, is an asset management company with investments in real estate, renewable energy, and infrastructure. The company’s growing insurance business and expected carried interest income growth make it an appealing investment. Based on a sum-of-the-parts analysis, its shares are estimated to be worth $102 today, with potential to reach $210 by 2030.

Investors considering Uber Technologies should note that it’s not among the 10 best stocks identified by the Motley Fool Stock Advisor team. Looking at previous recommendations like Netflix and Nvidia, which yielded substantial returns, joining Stock Advisor could provide access to potentially high-performing stocks. Stock Advisor has a total average return of 1,081%, outperforming the S&P 500.

Read more at Nasdaq: Billionaire Bill Ackman Has 55% of His Hedge Fund’s $15.8 Billion Portfolio Held in Just 3 Spectacular Stocks