Amazon.com (NASDAQ:AMZN) stock is soaring Friday after the company’s double beat in the second quarter and explosive AWS growth. That’s good news for Amazon shareholders, including Bill Ackman.

• Amazon.com shares are climbing with conviction. Why is AMZN stock surging?

Ackman Bets on Amazon.com Stock

In the second quarter of 2025, Ackman took a stake in Amazon.com stock via the Pershing Square Inc (NYSE:PSUS) investment portfolio.

The initial stake was 5,823,316 Amazon shares.

Pershing Square said it bought the stock in April 2025 after shares fell to a cheap enough level to buy.

In April 2025, the stock traded between $161.38 and $198.34. While it’s likely that Ackman and company paid less than the month’s high of $198.34, the highest price paid that month for the shares would have been $1,154,996,495.44.

Today, Amazon stock trades at $271.14, nearing all-time highs ($278.56). That initial stake is now worth $1,578,933,900.24, up at least $423.94 million.

And again, this is likely the minimum gain on the position. There’s a chance that the gain from the initial stake is closer to $639.17 million if shares were bought at the April 2025 low of $161.38.

Read Also: Bill Ackman Wants To Follow Buffett, Build The Next Berkshire Hathaway: 'It's Something I've Always Wanted To Do'

Doubling Down Pays Off

While the initial Amazon stake is up nine figures for Pershing Square, Ackman doubled down and added to the position two more times since that April 2025, adding to the gains.

Pershing Square added 3,784,508 Amazon shares in the fourth quarter of 2025, increasing the position by 65%.

Amazon stock traded in a range of $213.04 to $258.60 in the fourth quarter of 2025.

Those added Amazon shares in the fourth quarter of 2025 have gained $47,457,730.32 to $219,879,914.80 in value for Pershing Square.

Pershing Square added 1,844,157 Amazon shares in the first quarter of 2026, increasing the position by 19%.

Amazon stock traded in a range of $196 to $248.94 in the first quarter of 2026.

Those added Amazon shares in the first quarter of 2026 have gained $40,940,285.40 to $138,569,956.98 in value for Pershing Square.

Ackman’s initial position was greatly timed and has the best gain among the three Amazon purchases.

The position size has more than doubled since then to 11,451,981 Amazon shares. That stake is worth $3,105,090,128.34 today.

By doubling down, Ackman added more gains for Pershing Square.

A new 13F is due by Aug. 14 and will show if Pershing Square’s position in Amazon stock stayed the same in the second quarter or changed.

Read Also: Cathie Wood, Bill Ackman Share 3 Stock Investments In Common: Can You Guess What They Are?

Image created using artificial intelligence via Midjourney and Dall-E.