Quick Read – Ackman and Tepper independently allocated over 15% of their portfolios to AMZN in Q1 2026, with Tepper nearly doubling his share count quarter-over-quarter. – AWS grew 28%, its fastest pace in 15 quarters, while Amazon’s custom silicon business crossed a $20 billion…
nual run rate with triple-digit growth. – Q1 CapEx hit $44 billion and trailing free cash flow fell 95%, making Amazon a stock worth studying at current levels, not chasing. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Amazon didn’t make the cut. Grab the names FREE today
Two of the most independent-minded money managers on Wall Street, Bill Ackman and David Tepper, arrived at the same conclusion in the first quarter of 2026: Amazon (NASDAQ:AMZN) belongs at the top of the portfolio. According to Q1 2026 13F filings dated March 31 and filed May 15, Ackman’s Pershing Square held Amazon at roughly 17.4% of its portfolio, while Tepper’s Appaloosa held it at roughly 15.2%, with Tepper nearly doubling his share count quarter-over-quarter. Two managers, very different playbooks, one name over-weighted.
What They Bought and Why It Matters Ackman runs a concentrated book of eight to 12 quality compounders. Tepper is a distressed-and-macro trader who rotates aggressively. When both allocate more than 15% of capital to the same mega-cap, the signal cuts through style bias.