Several billionaire fund managers, including Bill Ackman (Pershing Square), David Tepper (Appaloosa Management), Seth Klarman (Baupost Group), and Sanders Capital, have significantly increased their positions in Amazon over recent quarters. The company valued at $2.5 trillion has become the largest holding for Klarman and Tepper, while Amazon represents Pershing Square’s second-largest position (approximately $2.4 billion) and Sanders Capital’s third-largest holding ($6.2 billion). These investors are betting on a gap between the company’s exceptional operational performance, particularly its AWS cloud division which posted its strongest growth in fifteen quarters in Q1 2026 (+28%, reaching $37.6 billion in revenue), and the stock’s disappointing performance, which has only risen 3.4% year-to-date.
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