“The Super Investors Are Buying BIG.”
Amazon's AI-driven growth justifies its heavy spending and debt, but the negative free cash flow and rising leverage make both bullish and bearish stances reasonable.
Baupost added 20% to their Amazon stake, which is right at the top of their portfolio, now occupying 16%. So, it is ripping clear in that number one spot.
But, interestingly this quarter, I also want to point out that Bill Ackman, who we spoke about last quarter for buying Amazon, well, he's actually pulled back. He's reduced his Amazon stake by 25%.