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In this video, we will see the latest moves from Bill Aman. We will take a look at his portfolio. We have the information on Data Roma as of Q1 2025. And you see that you have plenty of moves. He bought some things, he sold some things. So, it will be pretty interesting and we will cover all his positions.
In case this is your first video from this channel, welcome. My name is Christoph Nur. I've been investing in the stock market for almost a decade now and I have achieved a performance of 25% per year copying great investors like Bilakman. So as always when this is the season and all the portfolio are all the portfolios are updated.
I take a look at all the positions. So we can start with Bill Aman and the first position of his portfolio is technologies. Blackman has been very vocal about his position in Urb. When he announced that he bought the stock on Twitter, the stock immediately jumped 10% or maybe more. And since then, well, it's very recent.
But since then, the stock is up and at alltime highs. So, in the short term, we can say it's a win, but Blackman doesn't invest for the short term. I recently read all his letters since uh ever actually and the holding period from Bakman is a couple of years. So it's actually too recent to call this a victory.
Some people might like it in the future but in the in the short term but this is not what we do on this YouTube channel. So we will see in the coming years how the investment thesis develops. But the points are very simple. This is a leader in his category. Uber is a great company and Uber is a company that is growing profitably.
Now, by the way, if you want to outperform the market with a proven investing strategy, I've created a free guide that shows you how to do it step by step. Just comment guide below and I'll send you the link to access it on demand. I can show you some stats. I can show you that uh the revenue, look at this, in blue in at the left of the screen, is growing nicely.
you have a I mean that's not a niche market. The total adjustable market for Uber is great and now the company is growing profitably is very recent. If you look at the free cash flow for this company look at here in blue for the past few years the company was burning cash every year was not profitable and then since couple of quarters the company is now profitable.
If you look at the same chart on a quarterly basis, look at this in blue here. Since 2023, the company is now generating positive free cash flow, which is really good. Same thing for the net income. You don't have any losses right now. You have things in green, so net positive net income, which is great.
Seems like the company has increased their prices. Seems like they have economies of scale. It seems like the company is operating at a high level right now and delivering strong value and based on this free cash flow. The company is valued right now at a price to free cash flow of 25 and expected to grow in the future and you have a PE ratio of 16 for the moment.
So yeah, maybe the the Bakman sees strong growth in the future. Maybe I mean this is what they have done in the past, right? So I see no reason why the revenue will be dropping in the near f future. So if the company can continue to deliver profitably and continue to grow in the future, this can be a leader.
This can be a leader. I don't have much conviction in Urb because I don't see the uh the a customer experience that is great compared to other delivery services or taxi services. But I completely understand the move on Bilakman. Uber is a great company and I think Bilakman is in contact in touch with the CEO Dra and they've talked a lot and he acknowledges the power of having a great management.
So we will see wait and see. This is the biggest move on his portfolio uh right now and very very interesting. So we will see this for for the long term. The second position is Brookfield. I'm a shareholder of Brookfield. Full full disclosure. And I like that he bought more. Brookfield is an alternative investment vehicle in Canada with a great management, a great CEO and a great vision for the future.
So if you think AI is real and you will have plenty of infrastructure uh developed built for AI, Brookfield will benefit from this new era of digital world. And actually Brookfield reported earnings a few days ago and the earnings are really good, really good, really great. Everything is going in the right direction up and to the right.
Wonderful management. They are doing buybacks. They are growing 20% per year. Things are going in the right direction. So glad to see he bought more. This is Q1 2025. So this reports ends in at the end of March without taking into account the correction in the stock market. So without taking account the small bare market we had in April and beginning of May.
So maybe in Q2 to 2025 in 3 months you will have more moves from Bilakman. And now I want to talk about something that is quite important. You see a complete sellout of Nike and I saw some people on YouTube or Twitter saying that he has lost conviction and maybe this is the bottom. If black man is selling a stock this is the bottom.
This is exactly what happened for Netflix, right? Uh I mean I have the time in this video. So in 2022 Netflixman in 2022 Beakman invested in Netflix and the stock was down down going down down down and he sold at the absolute bottom of the stock. Maybe you can see uh what can I show you? Sold too quickly.
Okay. Normally you can see at the right of the screen. Sorry if that's small, but this is the stock price for Netflix and Beckman sold all the position at the bottom and now the stock is at alltime highs. So people are making fun of man because of this disregarding of his past experience. So unlucky timing and um he had good reason to sell at the time because it was scary.
So completely understandable. And now that the stock price for Nike is dropping like a rock, let me show you. Let me show you the stock price for Nike. Okay, very well. Let me put in English. Now that the stock price of Nike is dropping and dropping and dropping, some people have said, "Yeah, this is the absolute bottom and Bakman is selling.
So it will be like a Netflix scenario and it will go to the moon." Now, unfortunately, this is not what the truth is because he sold his Nike position, but he is still investing in Nike. And I can show proof of what I mean. If you go through the 2025 annual investor presentation from his fund, Persing Square, you will look at slide 57 and they talk about Nike.
So, let me read what is happening here. Nike update. In early 2025, we converted our Nike common equity position, so the stocks, the shares to deep in the money call options. New structure allows us to preserve the upside potential of owning the stock outright while unlocking capital to make new investments.
Yeah, you unlock some cash if you do this. So they used all the cash that was freed to buy Uber. Basically positive intrinsic value and low break even price minimizes likelihood of loss. Over-the-counter derivatives such as equity options do not appear in 13F filings. So people that did their homework uh were aware of this and did not panic.
I don't know how many posts I've seen on Twitter saying that uh Beakman has sold Nike, but I suspect that these are people that have not read this. So, it's normal, but it's completely normal. Don't panic over this one. If you are a Nike shareholder, they just told you in advance. This report, this investor presentation was released, I don't know, in February, in March.
So they told you in advance that you will have this uh um this move and the stock will not appear on the 13F filing. Okay. Blah blah blah. Multi-year term offers duration blah blah blah. Okay. Uh we continue to believe that Nike has the potential to be one of the great large cap consumer turnarounds.
Yeah, we will see. We will see. Frankly, uh we will see. They have a new management. They have a new business plan. So, we will see if they succeed. Good luck to them. So, Bakman still holds Nike. Okay. And by the way, another tip if you want to go through go through 13F's filings. So, looking at the updates of the biggest investors on Data Roma or other websites on Datarama, you only see the US holdings.
So, this fund from Bilakman, they also own other companies that are not in the US. MG. Here we go. Yeah, sorry for the delay. UMG, Universal Music Group. Yeah, I was blanking on the name. Sorry. So, yeah, this is an international stock UMG. They have a position in Universal Music Group. As always, just type this on the internet like Ping Square investor presentation and you will have all these slides.
So, they have this investment that is not appearing here on the 13F. For some reason, data roma is only focusing on uh US listings because of the 13F. So maybe I mean you have other websites that are gathering all the holdings of all the portfolio but the interface is not the same. So yeah we will not go through UMG and other international stocks.
This is a minor part of his portfolio. Okay. Next one on his portfolio 13% of his portfolio US portfolio is QSR QSR restaurant Brands international. This has not changed. Billman has made a fortune investing in restaurant brands. If you read his letters, he has deep expertise, deep knowledge into the restoration, uh, restaurant branding, uh, quick service, restaurant industry.
So, everything related to to food really and drinks. You have HH Howard Huges. That's a little bit tricky because he plans to buy more hors huge and make it make it an investment fund. Maybe you will have better videos on YouTube that will talk about this topic. You have a reduction in Chipotle Mexican Grill 12%.
Nothing to worry about. You have a stable position in Canadian Pacific and City. By the way, this is a good company. Uh I'm actually quite bullish on the railways at the moment. If you look at Canadian Pacific Kansas City, this is this is a stock that has been going nowhere for four years since 2021.
Okay. And this is a company that is leading in their operation. The PE ratio is roughly 25. And if you look at the financials, these are pretty decent. You have a revenue that is growing um a little bit but still growing. You have net income that is growing up and to the right. They generate free cash flow every year and well they have some debt but this is the way the company is structured right.
This is a company that is really really decent available at the fair price. Little bit overvalued to some extent but I would say around fairly priced so pretty good investment. I'm happy he's a shareholder of CP. You have Google. So he you have two class of Google shares, right? You have the A class shares, Cclass shares.
Uh that's the class C. That's a class A. And he sold a little bit of to buy a little bit of another one. I have no clue why. And it doesn't matter. It's I mean it doesn't matter at all actually. He's still holding 8 + 5 roughly 13 14% of his portfolio. So actually if you a aggregate everything Google should be the third largest holding for for Bakman for the US holdings.
So pretty decent. You all know Google you have some threats related to AI and this is why the stock is going down. You have a low valuation because you have more risks now of lower monetization of chip coming and eating their lunch taking market share. But for the moment the business is not that threatened.
In the future maybe yes but for the moment they are holding pretty strong when it comes to fundamentals. Um yeah, we will see. Maybe in six months it will change. But uh seems like man is still bullish on Google and not bullish on meta platforms etc. Like his favorite position out of all the tech companies, the favorite one from Bilakman is Google.
You have Hilton that was cut in half. That's quite big actually. He's been investing in Hilton for a couple of years now. And I don't like hotel chains actually. I don't like investing in hotels. And uh but so far it has been a good investment for him. Look at the stock price for the past 10 years. Literally up and to the right even after COVID this was going up strongly.
The company has decent margins and they generate strong free cash flow. They are doing buybacks. That's okay. The company is decent available at a PE ratio of 40 30 between 30 and 40. Maybe this is the reason they sold because of a high valuation. Maybe the valuation in the past was not that high and this is the reason.
Very very interesting. If you want more information or as always you have slides here. Hilton Hilton Worldwide. Here we go. It's a high quality business with a lot of runway etc. They are very bullish but they cut the position in half. So I suspect they sold the Hilton one because of valuation secondly to free up some cash to buy.
So I think they financed the Uber purchase with a little bit of selling from Hilton and then they converted the Nike common shares to uh to a derivative product to finance this. Yeah, that's that sounds reasonable to me. And after this you have two tiny positions, Seport Entertainment Group and Hertz.
This will not move the needle for the big portfolio that Beckman has. So I will not cover these ones. These are the latest moves. So basically big position very high high conviction. Brookfield is still a big buy big conviction for them. They reduced Hilton. They are still in Nike. They reduced a little bit Chipotle.
And that's basically it. A passive portfolio. The big move is Urb. So that's pretty interesting and looking forward to see how it develops in the future. If you like this video and you want to go deeper, I've created a free guide called How to Outperform the Market with a proven investing strategy. Inside I show you the exact method that helped me generate 25% per year, including how to build a framework you trust, how to find great stock ideas, and how to build a winning portfolio.
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