Pershing Square (PSGM) Bets Heavily on Meta (META) and Exits Hilton (HLT)

Pershing Square Capital Management (PSGM) increased its stake in Meta Platforms (META) following a November 2025 investment, allocating roughly 10% of its capital—about $2 billion—according to a client presentation dated February 9, 2026. The firm sold its position in Hilton Worldwide Holdings (HLT) in early 2026. Since the Meta bet, META’s share price has risen 3% through February 9, 2026, despite a 7.4% decline over the past 12 months. The firm’s CIO, Ryan Israel, cited AI-driven content recommendations and personalized advertising as key tailwinds, while acknowledging spending on AI initiatives has weighed on the broader stock. Ackman, who typically makes a dozen bets at a time, previously invested in Amazon and Alphabet, signaling continued confidence in big tech.