Ackman’s Pershing Details $1.3 Billion Size of Amazon Stake

Pershing Square Capital Management revealed that the Amazon.com Inc. stake it was building totaled nearly $1.3 billion at the end of June.

Bill Ackman’s firm first disclosed that it had built a new stake in the e-commerce company during an analyst call in May, after the stock tumbled more than 30% earlier this year over concerns about the generative AI boom and US tariffs. A regulatory filing Thursday showed that Pershing had accumulated more than 5.8 million Amazon shares.