Several of Wall Street's most notable billionaires made the same move according to their Q1 2026 13F filings. Bill Ackman, David Tepper, and other fund managers increased their holdings in Amazon (AMZN).
The reports show that the e-commerce and cloud platform is now topping many hedge fund portfolios. Amazon has become the most overweight holding in the largest filings.
Ackman and Tepper are leading the surge in Amazon
Pershing Square bought 1.84 million Amazon shares during the first quarter. This purchase boosted Ackman's holdings by about 19%, according to the fund's report.
Amazon is now one of its largest holdings alongside Brookfield, Uber, and the new stake in Microsoft.
David Tepper's Appaloosa Management nearly doubled its Amazon position during the quarter. The 98% increase made the stock the firm's largest reported equity holding, valued at around 900 million USD.
The fund also increased its stake in Uber by 242% and bought more Taiwan Semiconductor, but reduced positions in Nvidia, Alphabet, and Alibaba.
Hedge funds run by Daniel Loeb, Seth Klarman, and Chase Coleman have Amazon among their largest U.S. holdings.
This shows that many are opting for the same strategy. Amazon attracts with stable cash flows from e-commerce, high demand for AWS cloud services tied to AI, and increasing revenue from digital advertising.
AI and strong companies dominate among other holdings.
Besides Amazon, reports show broad interest in platforms linked to AI and stable growth. Tepper, Coleman, and Loeb also own Alphabet, Nvidia, Meta Platforms, and Taiwan Semiconductor.
Warren Buffett's Berkshire Hathaway made a big buy in Alphabet but reduced its position in Bank of America. Bill Gates and Chris Hohn primarily invest in industrial firms, railroads, and strong payment companies like Visa.
13F reports have a 45-day lag. They do not reflect options, short sales, or non-U.S. holdings, so the numbers should be interpreted alongside current price action.
Despite this, continued interest in Amazon during Q2 depends on guidance regarding cloud investments and advertising trends. The rotation between growth in AI and value stocks also plays a significant role.