Rheos Capital Trims Amazon Holdings by 70%

Hedge fund reduces stake in e-commerce giant amid broader market volatility

Apr. 20, 2026 at 8:43am

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An extreme close-up of intricate, metallic financial machinery and mechanisms, conveying the complex institutional forces shaping the e-commerce industry.A major hedge fund's reduction in its Amazon holdings reflects broader uncertainty around the e-commerce giant's stock performance.Seattle Today

Rheos Capital Works Inc. has trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 70.3% in the 4th quarter, according to a recent SEC filing. The fund now owns 122,800 shares of the e-commerce giant's stock, down from 412,800 shares previously.

Why it matters

This move by Rheos Capital, a major institutional investor, reflects broader uncertainty around Amazon's stock performance and the tech sector as a whole amid rising interest rates and economic headwinds. The reduction in Rheos' Amazon stake could signal a shift in investor sentiment toward the company.

The details

According to the filing, Rheos Capital sold 290,000 shares of Amazon during the fourth quarter, leaving it with a position valued at $28.3 million as of the end of 2022. Amazon.com now makes up approximately 1.8% of Rheos Capital's overall portfolio, down from 6% previously.

  • Rheos Capital reported the stake reduction in a 13F filing for the fourth quarter of 2022.
  • The hedge fund sold 290,000 shares of Amazon during the October-December period.

The players

Rheos Capital Works Inc.

A hedge fund that has trimmed its holdings in Amazon.com by over 70% in recent months.

Amazon.com, Inc.

The e-commerce and technology giant, which has seen its stock price fluctuate amid broader market volatility.

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The takeaway

Rheos Capital's move to significantly reduce its Amazon holdings underscores the challenges facing the tech giant and the broader industry as they navigate macroeconomic headwinds. This shift in a major investor's position could signal a broader cooling of sentiment around Amazon's stock.