Pershing Square Reveals 10% Position In Meta

Pershing Square Capital Management, led by Bill Ackman, revealed a 10% position in Meta on Wednesday in its annual investor presentation. The fund said Meta's current share price underappreciates the company's long-term upside from AI, while Meta shares have fallen 16% over the past 12 months amid concerns about AI spending. Pershing said the stake represented 10% of its capital as of end-2025.