Pershing Square CEO Ackman builds $200M Meta stake on AI confidence

[Para 1: The Lead] Pershing Square’s managing partner Bill Ackman disclosed at its annual investor conference on February 11, 2026, a concentrated position of about $200 million in Meta (META-US), roughly 10% of the fund’s capital. The move reflects confidence in Meta’s leading position in the AI race. [Para 2: Supporting details & Context] The fund began accumulating shares in late November 2025, amid sector concerns over Meta’s heavy AI capital spending that had driven its stock down about 13% in six months. At an average cost of about $625 per share, Ackman’s team executed a “buy at a discount” as the market entered. As of February 11, 2026, Meta’s stock closed at $669, delivering about a 14% unrealized gain on the position. The fund’s research highlights Meta’s business model as a clear beneficiary of AI integration, with improved recommendation accuracy and more efficient ad targeting. Ackman continues the fund’s concentrated approach, holding just 13 stocks at year-end beyond new META-US exposure, including Alphabet and Amazon. The disclosure saw a steadier market reaction than past entries, but the timing and size of the trade underscore Ackman’s assessment of long-term value in Meta’s transition into AI-driven growth.