ClearBridge Exits Uber, Citing Reduced Upside Potential and Autonomous Taxis Concerns
ClearBridge Investments' Global Value Improvers Strategy has exited its position in Uber Technologies, Inc. (NYSE:UBER), citing reduced upside potential and concerns over autonomous self-driving taxis. The move comes after a strong quarter for the strategy, which outperformed its benchmark index.
Uber, a company that develops and operates proprietary technology applications through Mobility, Delivery, and Freight segments, saw its shares held by prominent investors. In the third quarter of 2025, Pershing Square, managed by Bill Ackman, held a significant position with 30.3 million shares, representing about 20.6% of the fund's portfolio. Meanwhile, Herbst Group LLC increased its position, holding 39,360 shares by the end of the second quarter, making Uber its 18th largest holding.
Despite these investments, ClearBridge decided to exit its position in Uber during the second quarter. The hedge fund's strategy had previously outperformed the MSCI World Value Index, driven by strong contributions from industrials and IT holdings, including Uber. However, the fund's decision suggests a shift in its assessment of Uber's potential.
As of October 2, 2025, Uber's stock closed at $96.61 per share, with a market capitalization of $201.472 billion. This follows a quarter of positive returns for global equity markets, driven by U.S. trade deals and expected fiscal stimulus in Europe.
ClearBridge's exit from Uber Technologies signals a change in the fund's outlook for the company, despite continued investment from other prominent hedge funds. As Uber continues to operate in a dynamic market, investors will closely watch the company's progress and the potential impact of autonomous self-driving taxis on its business model.
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