Bill Ackman’s hedge fund, Pershing Square, outperformed the S&P 500 by 24 points in the last decade. The fund holds significant positions in Alphabet and Uber, with 19% and 20% of the portfolio respectively. Warren Buffet’s Berkshire Hathaway serves as inspiration for Ackman’s plan to create a “modern Berkshire Hathaway” with Howard Hughes Holdings.

Alphabet, the parent company of Google, is leveraging artificial intelligence through custom chips and cloud computing services. The company dominates the digital advertising market and has seen accelerated revenue in Google Cloud due to demand for AI services. Wall Street expects 16% annual earnings growth over the next three years, making it a reasonable investment.

Uber operates the largest ride-sharing platform globally and is expanding into grocery and retail delivery. The company expects autonomous vehicles to drive the U.S. ride-sharing market to $1 trillion. With partnerships with companies like Alphabet’s Waymo and WeRide, Uber aims to capitalize on the AV opportunity. Wall Street expects 31% annual earnings growth over the next three years, making it a promising growth stock.

Read more at NASDAQ MarketSite: Billionaire Bill Ackman May Be the Next Warren Buffett — 2 AI Stocks Make Up 39% of His Portfolio (Hint: One Just Partnered With Nvidia)