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Pershing Square Holdings, an investment holding company, released its first half 2025 investor letter. A copy of the same can be downloaded here. In the first half of 2025, the company’s NAV per share increased by 15.5% and 17.7% year-to-date through August 19, 2025. The company’s share price rose by 9.9% and 16.5% during these periods, while the S&P 500 increased by 6.2% and 9.9%, respectively. The first half of 2025 was characterized by complex macroeconomic and geopolitical dynamics, contributing to broad uncertainty. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its second-quarter 2025 investor letter, Pershing Square Holdings highlighted stocks such as Uber Technologies, Inc. (NYSE:UBER). Uber Technologies, Inc. (NYSE:UBER) develops and operates proprietary technology applications that operate through Mobility, Delivery, and Freight segments. The one-month return of Uber Technologies, Inc. (NYSE:UBER) was 0.29%, and its shares gained 30.44% of their value over the last 52 weeks. On September 03, 2025, Uber Technologies, Inc. (NYSE:UBER) stock closed at $92.94 per share, with a market capitalization of $193.819 billion.
Pershing Square Holdings stated the following regarding Uber Technologies, Inc. (NYSE:UBER) in its second quarter 2025 investor letter:
“Uber Technologies, Inc. (NYSE:UBER) is the world’s leading mobility and delivery platform, operating a capital-light, highly-scalable, and rapidly-growing business. We initiated our investment earlier this year because we believed Uber’s stock price significantly undervalued the company’s earnings power and growth prospects. We believe the stock was mispriced due to misplaced concerns regarding perceived long-term threats from autonomous vehicles (“AVs”).
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