Bill Ackman's Amazon Bet Pays Off: Initial Stake Up At Least $423 Million

Amazon shares rallied after the company delivered a strong second quarter with a double beat and faster AWS growth, pushing the stock near all-time highs. The article focuses on Bill Ackman’s Pershing Square, which bought Amazon in April 2025 and has seen its stake rise sharply in value. The initial 5.82 million-share position is now worth about $1.58 billion, implying at least $423.9 million in gains, and possibly more depending on purchase price. Pershing Square later added to the position in Q4 2025 and Q1 2026, lifting its total Amazon holdings to 11.45 million shares worth about $3.11 billion. The piece underscores how well-timed accumulation in a strong AI/cloud-driven earnings backdrop has amplified returns for a major hedge fund investor.