Why Amazon, Alphabet and Uber Keep Showing Up in the Same Billionaire Portfolios

Ackman holds Amazon at 17% and Uber at 16% of Pershing Square, while Tepper added to both after blowout Q1 results.

Buffett more than doubled Berkshire's Alphabet stake, drawn by a forward P/E of 26 despite 104% one-year gains and 63% Google Cloud growth.

All three are high-ROE platform businesses with AI optionality trading below their growth rates, explaining why four elite managers converged on the same names.

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When the Q1 2026 13F filings were released in mid-May (Q2 filing are released later in August), three names kept surfacing across the sharpest institutional portfolios: Amazon ( NASDAQ:AMZN ) , Alphabet ( NASDAQ:GOOGL ) and Uber ( NYSE:UBER ) .

Bill Ackman's Pershing Square disclosed Amazon as roughly 17.4% of the portfolio and Uber at 15.7%. David Tepper's Appaloosa added to both Amazon (~15.2%) and Uber (~7.7%), while slightly trimming Alphabet to roughly 8%. Li Lu's Himalaya Capital ran Alphabet at ~44.8% combined between GOOGL and GOOG, and Warren Buffett's Berkshire Hathaway more than doubled its Alphabet stake to roughly 6% of the portfolio. Berkshire, worth noting, does not own Amazon.

Amazon traded around $273.86 on Aug. 6, up nearly 21% year to date and tracking the thesis holding both Ackman and Tepper. Q1 2026 revenue rose 16.6% to $181.52 billion, and EPS of $2.78 beat expectations of $1.65. AWS grew 28%, the fastest in 15 quarters, at a 37.7% operating margin.

Advertising delivered $17.24 billion, up 24%. Andy Jassy's $200 billion 2026 capex plan is the tell: this is a compounding cash machine being redeployed into AI infrastructure while trading at a forward P/E of 31.