Investment advisory firm Ithaka Group released the “Ithaka US Growth Strategy” first-quarter 2025 investor letter. A copy of the letter can be downloaded here. Following two years of gains exceeding 25%, the markets welcomed the new year with considerable volatility and a sharp decline. In the first quarter, Ithaka’s portfolio underperformed the R1000G by 30 basis points, recording -10.3% to -10.0% (gross of fees) amid a negative market environment. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its first-quarter 2025 investor letter, Ithaka US Growth Strategy 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 7.32%, and its shares gained 18.20% of their value over the last 52 weeks. On April 28, 2025, Uber Technologies, Inc. (NYSE:UBER) stock closed at $78.33 per share with a market capitalization of $163.808 billion.
Ithaka US Growth Strategy stated the following regarding Uber Technologies, Inc. (NYSE:UBER) in its Q1 2025 investor letter:
“Uber Technologies, Inc. (NYSE:UBER) employs a marketplace-based technology platform used to match drivers and their vehicles with individuals, products, and packages moving from point A to point B. The company offers its ~6M independent contractors (drivers) access to its 170M monthly active users (riders), providing both parties real-time access to logistics services. Uber’s business consists of three segments: Mobility, Delivery, and Freight. These businesses combined for ~$160B in annual bookings across 11.3B trips in 2024. During the company’s fourth quarter earnings announcement CEO Dara Khosrowshahi laid out his vision why Uber will play an important role in the future where cars are largely autonomous. This written piece helped remove an overhang on the stock and got investors comfortable with Uber’s future prospects. Additionally, the stock was helped by the announcement that renowned investor Bill Ackman had taken a position in the company as a top 15 shareholder.”
A close up view of a hand holding a smartphone, using a ride sharing app.
Uber Technologies, Inc. (NYSE:UBER) is in 10th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 166 hedge fund portfolios held Uber Technologies, Inc. (NYSE:UBER) at the end of the fourth quarter compared to 136 in the third quarter. While we acknowledge the potential of Uber Technologies, Inc. (NYSE:UBER) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we covered Uber Technologies, Inc. (NYSE:UBER) and shared the list of AI stocks investors are monitoring after tariff shock. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.