Ackman Boosts Amazon Stake Amid Earnings Growth Prediction

Hedge fund manager Bill Ackman has been increasing his stake in Amazon, with his position now making up nearly 20% of his $19.5 billion Pershing Square portfolio.

Ackman initially revealed his Amazon stake in May 2025, after purchasing shares the previous month, and has since reaffirmed that he believes AI infrastructure demand and e-commerce's ongoing strength will propel Amazon's earnings growth at a rate of more than 20% annually.

Pershing Square added about 3.78 million shares in Q4 alone, increasing its stake in Amazon by 65%, and further increased it by another 19% in Q1 2026, even as Ackman was selling out of Alphabet completely.

The larger hedge fund community appears to concur with Ackman's view, with several prominent investors including Seth Klarman's Baupost Group, Al Gore's Generation Investment Management, and David Tepper's Appaloosa Management increasing their Amazon stakes in recent quarters.