• Pershing Square Capital Management discloses a new $2 billion stake in Meta Platforms (META), making up 10% of its portfolio.
  • The firm sees Meta as a top beneficiary of AI, boosting ads, content, and future products like wearables and digital assistants.
  • Ackman began accumulating shares in November around $625 per share, with the stock rising since amid broader portfolio shifts toward tech.

Bill Ackman’s Pershing Square Capital Management has placed a major bet on Meta Platforms, revealing a new stake valued at about $2 billion in a regulatory filing on February 11, 2026. The investment comprises roughly 10% of Pershing Square’s portfolio, positioning Meta as a core holding alongside new positions in Amazon (AMZN) and Hertz (HTZ), while the firm exited holdings in Chipotle (CMG) and Nike (NKE). According to people familiar with the matter, Ackman views Meta as a prime beneficiary of the expanding artificial intelligence market, which is projected to reach $918 billion in related segments by 2033.

Pershing Square began buying Meta shares in November at around $625 per share, a move that coincided with a 17% stock sell-off in the prior month. Since then, the stock has climbed, trading at a forward price-to-earnings ratio below 20, under the S&P 500 average, with analyst targets implying 37.5% upside to $838. In a brief statement, a Pershing Square spokesperson emphasized the firm’s confidence in Meta’s ability to leverage AI for enhanced advertising, content moderation, and future innovations, though Meta declined to comment on the specific investment.

This stake reflects a broader institutional pivot toward high-growth tech amid economic uncertainties, with Pershing Square’s portfolio now allocating 48% to AI-focused stocks including Meta, Alphabet (GOOGL), and Uber (UBER). Efforts to reach Ackman for further insights were unsuccessful, but sources indicate the firm is betting on predictable free cash flow in large-cap tech, despite Meta’s history of heavy capital expenditures on metaverse and AI initiatives. The investment comes as Meta faces ongoing global scrutiny over data privacy and AI ethics, including under the EU AI Act and U.S. antitrust probes, yet Ackman’s move signals resilience in the face of regulatory pressures.

Short-term, traders are eyeing a potential rally past $500 resistance, with historical patterns showing 5-10% stock surges following Ackman’s disclosures. Long-term, experts project earnings growth through 2029, driven by AI tailwinds that could expand addressable markets tenfold by 2033 in segments like cloud AI. Parallel developments include Pershing Square’s addition of Amazon, citing e-commerce and AI synergies, and Hertz, focusing on electric vehicle mobility, while exiting consumer discretionary names amid supply chain challenges. As of latest data, Meta shares have shown modest gains in pre-market trading, with correlated crypto assets like Ethereum experiencing volume spikes during such tech-focused rallies.

Correction: An earlier version misstated the percentage of Pershing Square’s portfolio allocated to AI stocks; it is 48%, not 50%.