Institutions Add 253 Million Amazon Shares While Berkshire Hathaway Fully Exits Stake

Institutional investors that file quarterly 13F reports added 253 million Amazon shares in the most recent quarter compared with the prior period, Fortune reported. Berkshire Hathaway cut its Amazon stake from 10 million shares to 2.3 million by the end of 2025 and held none in its latest filing.

Appaloosa Management, Baupost Group, Generation Investment Management, and Sanders Capital increased their Amazon positions.

Amazon became the single largest holding for both Appaloosa and Baupost. Pershing Square began buying shares about one year earlier and now holds approximately $2.4 billion worth, its second-largest position. Sanders Capital doubled its stake in the first quarter of 2026 to 29.8 million shares valued at about $6.2 billion, its third-largest holding behind Taiwan Semiconductor and Alphabet.

Amazon reported AWS revenue of $37.6 billion in the first quarter of 2026, up 28 percent. Total revenue rose 17 percent to $181.5 billion, with operating income of $23.9 billion. The company’s backlog of contracted but not-yet-recognized revenue reached $364 billion as of March 31.

Amazon previously invested $8 billion in Anthropic and agreed to invest up to $25 billion more; Anthropic committed to spend more than $100 billion on AWS technologies over the next decade. Amazon stock rose 3.4 percent year to date and 10.1 percent over the preceding 12 months. In the same period Nvidia rose 35 percent, Intel 496 percent, and Micron Technology 719 percent.

Amazon expects to spend about $200 billion on capital expenditures in 2026, primarily for AWS. Its forward price-to-earnings ratio stands at approximately 27 times, above the 18-to-20 range for Microsoft and Nvidia and the 17 times for Meta Platforms. Bank of America rates Amazon a buy with a price target of about $310.