Ackman deploys five billion dollar fund into three major technology stocks

Bill Ackman has put nearly half of his new $5 billion Pershing Square USA fund into three technology companies. The fund was launched through a public share offering. Alphabet, Amazon, and Meta Platforms together make up about 45% of the portfolio.

Ackman bought Alphabet shares first, in early 2023, when the price looked cheap relative to expected earnings. He added Amazon in April 2025 and Meta later that year. All three companies are heavily involved in artificial intelligence.

The three businesses held $331 billion in cash at the end of 2025. They also plan to spend more than $490 billion on new technology in 2026. Ackman clearly believes these large, well-funded companies will benefit strongly from AI growth.