(As of December 12, 2025 | Post Q3 2025 earnings and recent insider transactions)
Current market capitalization: ≈ $2.46 trillion (based on ~$230.28/share and 10.69 billion shares outstanding)
Introduction
Amazon.com, Inc. (NASDAQ: AMZN), founded in 1994 by Jeff Bezos as an online bookstore, has evolved into a global e-commerce, cloud computing (AWS), advertising, and streaming powerhouse. Public since 1997, it employs a single-class share structure (one vote per share), promoting aligned governance. Ownership is diffuse, with institutions at ~63%, insiders ~9%, and retail ~28%. No majority holder exists, emphasizing broad stakeholder influence. The table below details the top 10 economic shareholders from Q3 2025 13F filings (Sep 30, 2025) and SEC data, with values at current market cap. Recent activity includes $10B+ in insider sales (e.g., Bezos) and $10B quarterly buybacks reducing shares by ~0.5% YoQ.
| Rank | Owner / Stakeholder | Ownership % | Approx. Value ($2.46T valuation) | Detailed Notes |
|---|---|---|---|---|
| 1 | Vanguard Group Inc. | 7.7% | $189.4 billion | Largest holder via index funds (e.g., VTI, VOO); owns ~823M shares. Passive investor with ~$9.3T AUM; stake up ~0.4% YoY amid S&P 500 weighting (~6%). No direct control; focuses on e-commerce/AWS growth. |
| 2 | BlackRock Inc. | 6.3% | $155.0 billion | Holds ~674M shares through iShares ETFs (e.g., IVV); passive/active mix. Increased ~0.3% in Q3 2025; board observer on governance/ESG. Key in AI/cloud funds; AMZN ~3% of portfolio. |
| 3 | State Street Corporation | 4.0% | $98.4 billion | Owns ~428M shares via SPDRs (e.g., SPY); fully passive. Stable QoQ; votes proxies on exec comp and antitrust. Represents ~4% of tech holdings; supports $10B buyback program. |
| 4 | FMR LLC (Fidelity) | 3.9% | $95.9 billion | ~417M shares across funds (e.g., Contrafund); active with minor Q3 trim (~2M shares). Bullish on AWS (18% YoY growth); advisory on innovation like Bedrock AI. |
| 5 | Jeffrey P. Bezos (Founder & Executive Chair) | 8.25% | $203.0 billion | ~882M shares; largest individual insider. Recent gifts/sales (~$600M in Nov 2025); retains significant voting power; net worth ~$203B tied to long-term vision. |
| 6 | Geode Capital Management, LLC | 2.0% | $49.2 billion | Fidelity affiliate with ~214M shares in index trackers; passive. Grew ~0.2% in Q3; tracks Nasdaq 100; minimal voting power. |
| 7 | JPMorgan Chase & Co. | 1.8% | $44.3 billion | ~192M shares in asset management; index/active blend. Up ~1% in 2025; provides banking/debt services for AMZN's $90B+ cash reserves. |
| 8 | Morgan Stanley | 1.7% | $41.8 billion | ~182M shares via wealth/ETFs; active in M&A advisory. Increased ~0.5% QoQ; engages on shareholder proposals re: privacy/regulation. |
| 9 | T. Rowe Price Associates Inc. | 1.5% | $36.9 billion | ~160M shares in growth funds (e.g., Blue Chip); trimmed ~2% on valuation but holds for ads/AWS. Board input on R&D; ~2% of portfolio. |
| 10 | Andrew R. Jassy (CEO) | 0.02% | $0.5 billion | ~2.21M shares as of Nov 2025; largest active exec insider. Recent sales (~$500M in Nov); oversees strategy since 2021; aligns with cloud/e-commerce push. |
Total Top 10 = ~36.97% | Remaining: Other Institutions (~39%), Other Insiders (~0.73%, e.g., Brian Olsavsky CFO at ~0.006%), Retail (~28%) | Grand Total = 100%
Conclusion
As of December 2025, Amazon's ownership is institutionally led (~63% total) by passive leaders like Vanguard and BlackRock, ensuring stability for its $638B FY2025 revenue (up 11% YoY, 50% from online stores/AWS) and $59B net income (up 95% YoY), while insiders like Bezos (~9% combined) provide continuity amid expansions (e.g., $132B AWS run rate). Retail's ~28% stake reflects global consumer loyalty, but antitrust and capex risks (~$75B in 2025) persist. With $2.46T market cap (up 18% YoY) and $40B buybacks authorized, expect ~0.5% annual share reductions, minor institutional rebalancing in Q4 13Fs (due Feb 2026), and growth from AI/ads. This structure balances scale with innovation via $0.00 dividends (focus on reinvestment). For filings, visit SEC EDGAR or Amazon's investor relations.