Mairs & Power Balanced Fund Adds Amazon (AMZN) Amid Expansion in E-Commerce and Cloud Dominance

The Mairs & Power Balanced Fund has initiated a position in Amazon Inc. (AMZN), marking a strategic addition to its equity holdings. The fund’s decision comes amid Amazon’s reported 12% year-over-year increase in North American e-commerce market share, according to internal tracking data, and strong performance in its AWS cloud segment, which generated $92 billion in revenue during the fiscal year ending in September 2025. This allocation aligns with the fund’s long-term growth mandate and reflects a belief in Amazon’s ability to maintain leadership across digital retail and enterprise technology infrastructure. The fund’s equity strategy emphasizes balance between established market leaders and high-growth innovators. Amazon’s inclusion signals a shift toward companies with resilient pricing power and scalable, capital-efficient business models. With a 27% compound annual growth rate in AWS revenue over the past three fiscal years and a 9.4% global e-commerce market share as of Q3 2025, Amazon has demonstrated consistent expansion across core verticals. The addition is expected to influence trading activity, particularly in tech and consumer discretionary sectors. Analysts note that institutional inflows into large-cap growth stocks like AMZN may bolster sentiment in the broader S&P 500, especially within the information technology and consumer discretionary sectors. Market participants are watching for further positioning shifts, particularly in funds with similar balanced growth approaches.