Ackman, Tepper and Other Billionaires Increase Amazon Stakes

Q1 2026 13F filings show several hedge fund managers increased stakes in Amazon, with Pershing Square and Appaloosa making the largest additions. Pershing Square added 1.84 million shares and Appaloosa nearly doubled its position.

Pershing Square’s filing indicates the 1.84 million-share purchase raised Bill Ackman’s Amazon holding by about 19%, placing the stock among the fund’s largest disclosed positions alongside Brookfield, Uber and a newly initiated Microsoft stake. The filing reflects holdings as of the end of the first quarter.

David Tepper’s Appaloosa Management increased its Amazon stake by roughly 98%, making it the firm’s largest disclosed equity holding at an estimated $900 million. Appaloosa also increased its Uber stake by 242% and added shares of Taiwan Semiconductor while trimming positions in Nvidia, Alphabet and Alibaba during the quarter.

Funds linked to Daniel Loeb, Seth Klarman and Chase Coleman also listed Amazon among their top U.S. holdings. Amazon was the most frequently overweight name across the filings.

Investors cited steady e-commerce cash flow, demand for Amazon Web Services related to AI infrastructure and rising digital advertising revenue as reasons for the added exposure.

The filings showed broader increases in AI-adjacent and durable growth names, with many funds adding shares of Alphabet, Nvidia, Meta Platforms and Taiwan Semiconductor. Berkshire Hathaway disclosed a large purchase of Alphabet and a reduction in its Bank of America stake. Separate investor groups held concentrated positions in industrials, railways and payment companies such as Visa.

13F reports carry a 45-day reporting lag and do not include derivatives, short positions or non-U.S. holdings, so they provide a delayed and incomplete view of activity. The filings and investor disclosures highlighted cloud capital spending, advertising trends and flows between AI-growth and value stocks as key factors for portfolios after the quarter.