Billionaire hedge fund manager Bill Ackman has positioned Pershing Square Capital Management as a concentrated play on the artificial intelligence buildout through three major tech holdings.
Ackman’s top AI-linked positions are Amazon (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT), and Meta Platforms (NASDAQ: META), each representing a significant slice of the Pershing Square portfolio.
Ackman is known for a value-oriented investment style, favoring companies that are temporarily out of favor with the market and holding them until they reach full valuation.
That approach drove his decision to take a major stake in Microsoft during the first quarter of 2026, with the position now accounting for 15% of Pershing Square’s total portfolio.
Microsoft had been falling out of favor with the market before posting strong quarterly results that appeared to vindicate Ackman’s contrarian thesis and sent the stock sharply higher.
Microsoft’s fiscal year 2026 fourth quarter results were headlined by 43% revenue growth in its Azure cloud computing division, reflecting surging enterprise demand for AI infrastructure.
The company also reported overall revenue growth of 18% year over year for the quarter, with earnings per share climbing 23%, reinforcing its standing as one of the most durable businesses in global technology.
Ackman outlined his conviction in Amazon in Pershing Square’s annual letter, describing its e-commerce and Amazon Web Services units as two leading franchises with “decades-long secular growth trends behind them.”
He expressed confidence that Amazon’s e-commerce business would continue delivering double-digit revenue growth while significantly expanding margins, aided by automation, a sprawling logistics network, and AI-driven improvements to the customer experience.
Meta Platforms represents approximately 11% of Pershing Square’s portfolio, a position Ackman initiated during the fourth quarter of 2025, betting on the company’s ability to monetize its massive AI investment through its advertising business.
Meta’s growth rate remains among the fastest of any large-cap technology company, outpacing both Amazon and Microsoft, which Ackman views as evidence that its AI spending is already yielding results.
The company is also reportedly exploring a new cloud computing service that could help monetize its existing AI computing resources and open an entirely new revenue stream over time.
Ackman and Pershing Square appear to be playing a long game across all three positions, reflecting a belief that the AI infrastructure buildout still has years of runway ahead of it.
For investors seeking AI exposure backed by the conviction of one of the world’s most closely watched billionaire fund managers, Amazon, Microsoft, and Meta represent a compelling and diversified starting point.
