Bill Ackman's investment fund, Pershing Square, has substantially increased its position in Amazon during the fourth quarter of 2025. Regulatory filings indicate the fund added more than $865 million to its stake, raising the total value to over $2.2 billion.
This adjustment places Amazon as the third-largest holding within the portfolio, trailing only Brookfield and Uber. The investment coincided with a 5% gain in Amazon's stock price during the three-month period ending late 2025. However, the e-commerce giant has faced volatility since then, dropping more than 12% in the first quarter of 2026 before snapping a nine-day losing streak recently. Analysts polled by LSEG maintain predominantly buy ratings on the stock, with average price targets suggesting a potential rebound exceeding 38% over the next year.
Beyond Amazon, Ackman adjusted his positions across other major technology companies earlier this month. He expanded his stake in Meta to approximately 10% of the portfolio, valuing it at more than $1.7 billion based on its deeply discounted valuation. Conversely, Pershing Square reduced its holding in Alphabet by over 38% and completely exited its position in Chipotle, which was previously worth around $780 million.