Forty-eight of the top-200 alpha managers initiated a position in $AMZN in Q1 2026, against just 2 exits — the most lopsided new-entry quarter in the cohort's recent $AMZN history. Eight existing holders added, 7 trimmed, and 55 held flat; net holder count reached 120.
The largest movers were on the add side. BIT Capital GmbH lifted its weight from 3.25% to 14.10% (+10.84pp), while Explore Capital Management took its position from 1.58% to 13.16% (+11.59pp) — both now the cohort's top two holders by weight. Generation Investment Management, initiating fresh, landed at 10.08%. On the trim side, Mountain Hill Investment Partners cut from 17.56% to 3.81% (-13.75pp) and Stelac Advisory Services from 16.24% to 2.79% (-13.45pp); Duquesne Family Office (Stanley Druckenmiller) trimmed from 4.30% to 1.52% (-2.79pp).
Cohort-average weight across all 120 holders sits at 1.98%, with a range of 0.01% to 14.10%. The distribution is heavily right-skewed: the top five holders by weight account for the bulk of cohort exposure, while the majority of the 48 initiations landed below 2.00%. Philippe Laffont's Coatue Management held essentially flat at 5.68% (-0.05pp).
Two exits — Rokos Capital Management (down from 1.91% to a near-zero residual, classified exited) and Quarry LP (17.17% to 0.02%, also classified exited) — are structurally notable: Quarry's near-complete liquidation of what was a top-weight position, concurrent with 48 new entrants, is the kind of rotation that rarely reads as coincidence even when you're not allowed to say so.