In February 2026, investor Bill Ackman unveiled a new stock position, telling investors that shares of Meta Platforms (NASDAQ:META) were undervalued. That thesis has stalled in 2026, as the stock ranks among the weakest performers in big tech. Here's how much Ackman's newest position is down so far in 2026.

Ackman's Meta Position Down in 2026

Ackman unveiled that he bought Meta stock in February 2026. That position was later made official when Pershing Square disclosed its 13F quarterly filing.

Meta was the only new position taken by Pershing Square Capital in the fourth quarter. The fund exited its position in Chipotle Mexican Grill in the fourth quarter.

The fund bought 2,673,569 shares of Meta on an unknown date in the fourth quarter. At the end of the quarter, the position was valued at $1.76 billion and represented around 11% of the fund's assets.

Other changes to the fund included increasing its Amazon.com Inc (NASDAQ:AMZN) position by 65% and cutting its stake in Alphabet Class A (NASDAQ:GOOGL) and Alphabet Class C (NASDAQ:GOOG) shares by 86% and 2%, respectively.

With a ...