tech
February 11, 2026
Bill Ackman reveals stake in Meta, says it has 'deeply discounted valuation'
The position amounts to 10% of Pershing Square's capital as of the end of 2025.
TL;DR
- Pershing Square has taken a significant stake in Meta.
- The fund believes Meta's current share price undervalues its long-term AI potential.
- Meta's AI-related capital expenditures are projected to be between $115 billion and $135 billion in 2026.
- Pershing argues that concerns about Meta's AI spending are underestimating its upside.
- Meta currently trades at 22 times its projected earnings for the next 12 months, which Pershing considers cheap.
- Pershing added to its stake in Meta during the fourth quarter.
- Pershing Square's net asset value increased by 20.9% last year, outperforming the S&P 500.
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