2 Warren Buffett-Inspired Fund Managers Disagree on Amazon Stock, and Why I’m Staying on the Sidelines Here

Leading hedge funds have filed their 13Fs for the first quarter of 2026, and we see some interesting changes at a few, particularly Berkshire Hathaway (BRK.B) (BRK.A) and Pershing Square Holdings. Berkshire sold several smaller holdings in the quarter and was a net seller of stocks for the 14th consecutive quarter. Importantly, it was the first filing under the leadership of Greg Abel, who took over from the legendary Warren Buffett earlier this year. Meanwhile, what caught the eye was Berkshire doubling down on Alphabet (GOOG) (GOOGL) while adding new positions in Delta Air Lines (DAL) and Macy’s (M). Moreover, the conglomerate exited Amazon (AMZN), a position it had initiated seven years ago. The decision was likely taken by Abel, even though the company usually does not explicitly tell who bought or sold a stock.

However, Bill Ackman of Pershing Square – a self-described “Warren Buffett devotee” –doubled down on Amazon, making it the fund’s second biggest holding. He also added Microsoft (MSFT) shares while trimming the stake in Alphabet. In a social media post, Ackman suggested that he finds Alphabet stock overvalued and Microsoft undervalued, even though he remains bullish on the former in the long term.