SEATTLE, April 1, 2026, 06:07 PDT
LVM Capital Management Ltd. MI and Curated Wealth Partners LLC both bumped up their Amazon.com stakes, according to filings released in the past 48 hours. These updates follow a stream of fourth-quarter disclosures—SG Americas Securities LLC’s filing among them—indicating that managers kept picking up Amazon shares into the tail end of last year. MarketBeat
Why does it matter? Form 13F is the SEC-mandated quarterly filing that reveals a fund manager’s U.S.-listed holdings at the end of each quarter—a rare look at institutional positions. But keep in mind, these filings come out up to 45 days after quarter-end. So, what’s showing up this week? Only holdings as of Dec. 31, 2025—not what managers own right now. Investor
Amazon’s under pressure. Back in February, the company flagged its 2026 capex at around $200 billion—money earmarked for things like new data centers and chips—jumping from $131 billion in 2025 as it races to expand its AI backbone. AWS pulled in $35.6 billion last quarter, up 24% from a year ago, but both Microsoft Azure and Google Cloud posted higher percentage gains, sharpening scrutiny over Amazon’s pace in translating hefty investments into profit. Reuters
LVM Capital Management’s latest Jan. 12 filing listed 64,503 Amazon shares on the books, valued at $14.889 million as of year-end. According to a Wednesday report, the firm picked up 59,010 shares across the quarter. That brings Amazon to roughly 1.4% of LVM’s portfolio, now marking the stock as its 22nd-largest position. SEC
Curated Wealth Partners reported holding 29,047 Amazon shares worth $6.705 million in its Jan. 12 filing. According to a report out Tuesday, the firm picked up 2,538 shares over the quarter. Amazon now makes up about 0.7% of the portfolio, ranking as the firm’s 15th largest holding. MarketBeat
SG Americas took the largest leap among the trio. The firm’s filing dated Jan. 9 revealed it held 5.624 million Amazon shares, a position valued at roughly $1.298 billion at the end of the year. According to a report on that disclosure, the stake surged by over 1,300%, turning Amazon into SG Americas’ ninth-biggest holding. MarketBeat
Amazon insists its investment makes sense. Speaking last month, CEO Andy Jassy pointed to “very clear and significant demand signals” for AI. He also told staff he’s now targeting $600 billion in yearly AWS revenue by 2036. Reuters
Even so, the core question hangs over the market. Because 13F filings offer only outdated glimpses, funds might have already shifted positions, and there’s still a sense among investors that AI spending might be running hotter than the payoff. Melissa Otto, who heads research at S&P Global Visible Alpha, warned that a real slowdown in AI capital outlays could spark a “really meaningful correction” in stocks. MoffettNathanson’s February note flagged Amazon’s tightening margin for error. SEC
Amazon closed Wednesday at $208.27 a share, putting its market cap around $2.34 trillion, according to the latest U.S. market data.
