Bill Ackman's Amazon Trade Reverses Course – Now Up $119 Million And Counting In Third Quarter

Group 1 - Bill Ackman, CEO of Pershing Square Capital Management, has made new investments in the Magnificent 7 stocks, specifically acquiring a stake in Amazon and increasing his position in Alphabet [1][2] - Amazon has become the fourth-largest holding in the Pershing Square Holdings portfolio, with 5,823,316 shares owned at the end of Q2 [2] - The value of Amazon shares has appreciated from approximately $1.28 billion at the end of Q2 to about $1.40 billion, resulting in a gain of $119.4 million for Ackman and Pershing Square [3] Group 2 - Amazon reported strong Q3 results, exceeding analyst expectations in both revenue and earnings per share, contributing to the stock's rise [4] - The AWS cloud segment has experienced its fastest growth since 2022, further boosting investor confidence in Amazon [5] - A new 13F filing by Ackman is expected in mid-November, which will disclose any changes in his positions in Amazon and Alphabet during Q3 [5]