THE APEX TIMES
Amazon’s AMZN appeared on a list of stocks owned by members of Congress, as satellite deal with Globalstar advances
A new hedge-fund and congressional ownership roundup put Amazon.com Inc. (AMZN) among the top 10 stocks members of Congress own, while the company simultaneously moves to expand its low-earth-orbit “Amazon Leo” satellite business through a planned acquisition of Globalstar and related arrangements with Apple.
Inc. (AMZN) has surfaced again in financial media tied to congressional stock ownership. In a June 7 article syndicated from Yahoo Finance reporting, Insider Monkey said AMZN ranks among the “Top 10 Stocks That Members of Congress Own,” noting 353 hedge fund holders as of Q1 2026. The list is based on Insider Monkey’s methodology that uses public disclosure and other data sources to identify holdings and then ranks companies by the number of hedge fund holders.
The same roundup also pointed to a major business development at Amazon. It said that on May 29, Amazon announced it would acquire Apple’s 20% stake in Globalstar (GSAT) as part of Amazon’s planned $11.6 billion acquisition of the satellite communications company. That linkage matters because Globalstar is closely associated with Apple’s iPhone satellite features, which rely on Globalstar’s network.
Separately, Amazon’s own filings and deal announcement outline the broader Globalstar transaction. Amazon entered a definitive merger agreement on April 13, 2026 to acquire Globalstar for a mix of cash and Amazon stock, giving Globalstar shareholders a choice of $90.00 in cash or 0.3210 shares of Amazon common stock per Globalstar share, with a cap on cash elections. The total value can also be adjusted downward by as much as $110 million if Globalstar does not hit operational milestones, according to Amazon’s SEC filing and its public transaction materials.
Amazon also said the planned transaction is expected to close in 2027, subject to regulatory approvals and Globalstar achievement of specified replacement-satellite milestones, including HIBLEO-4. Amazon’s press materials describe the strategic purpose of the deal as combining Amazon Leo, its low-earth-orbit satellite network, with Globalstar’s infrastructure and spectrum assets to accelerate direct-to-device connectivity. Direct-to-device (D2D) connectivity refers to systems that connect compatible devices without relying on traditional ground-based cellular towers, a capability that can matter during disasters and in remote areas.
Apple’s role is addressed in the transaction structure as well. Amazon’s SEC filing states that, alongside the merger agreement, Amazon entered agreements with Apple to provide certain services after the acquisition and to redeem certain equity interests Apple holds in a Globalstar special purpose entity. MacRumors, citing an FCC filing and related reporting, further described Apple as holding 20% equity and 20% voting interests in Globalstar’s relevant unit, and characterized the arrangement as Amazon taking over that stake as part of the overall deal.
Industry watchers will likely view this as an attempt by Amazon to move faster from launching and building out a satellite network into acquiring immediate spectrum, operations, and service continuity. For Amazon, that means potentially shortening the time required to scale satellite connectivity while keeping support for existing Apple satellite-enabled services, rather than building from scratch.
Still, important details are not fully disclosed in the congressional-ownership roundup itself. The Yahoo Finance-linked article and the Insider Monkey write-up do not provide deal mechanics specific to the Apple stake beyond referencing the existence of the arrangement and the reported 20% figure, and they do not spell out whether additional regulatory approvals or technical milestones could change timing for that component. The SEC filing also does not lay out a standalone “price” for Apple’s stake in the excerpt publicly available here, focusing instead on the overall merger consideration and conditions to closing.
What to watch next is whether regulatory review progresses on schedule and whether Globalstar hits the replacement-satellite milestones that Amazon lists as a gating item for closing. Investors and industry participants will also look for the related securities filings that accompany mergers like this, including Globalstar’s information statement on Schedule 14C and Amazon’s Form S-4 registration statement, which Amazon’s materials say will be filed with the SEC and mailed to Globalstar stockholders when available.
Why It Matters
- The congressional-ownership angle can keep AMZN in a high-visibility category for retail investors, but the underlying driver here is Amazon’s satellite expansion plan.
- The Globalstar transaction could accelerate Amazon Leo’s scale by adding spectrum and operational assets rather than relying only on network buildout.
- Apple-related continuity matters for consumer devices with satellite features, because the deal includes service and equity-interest arrangements tied to Apple’s relationship with Globalstar.
- Closing depends on regulatory review and specific satellite milestones, which could become catalysts for timelines and expectations across the satellite connectivity market.
Sources
- (Yahoo Finance, as provided)
- Insider Monkey (AMZN top 10 Congress-owned list, includes 353 hedge fund holders and May 29 Apple 20% stake reference)
- Insider Monkey (methodology and list context for “Top 10 Stocks That Members of Congress Own”)
- Amazon SEC filing (merger terms, Apple service/equity redemption language, closing expected 2027)
- Amazon press release (deal announcement, consideration structure, HIBLEO-4 milestone reference, Schedule 14C and Form S-4 mention)
- Amazon About Amazon newsroom (additional deal narrative and transaction terms, Amazon Leo definition)
- MacRumors (reported Apple 20% equity/voting interests in Globalstar and merger-substructure summary)
- Globalstar investor materials (merger terms PDF, Schedule 14C and Form S-4 references)
- Image
Key Facts
- Insider Monkey, referencing Yahoo Finance, said Amazon (AMZN) is among the “Top 10 Stocks That Members of Congress Own,” with 353 hedge fund holders as of Q1 2026.
- The same report said Amazon announced on May 29 that it would acquire Apple’s 20% stake in Globalstar (GSAT) as part of an acquisition valued at about $11.6 billion.
- Amazon’s SEC filing says the Globalstar deal was signed on April 13, 2026 and gives Globalstar shareholders a choice of $90.00 cash or 0.3210 shares of Amazon stock per Globalstar share, subject to caps and adjustments.
- Amazon and Globalstar said the transaction is expected to close in 2027, subject to regulatory approvals and Globalstar achieving replacement-satellite milestones, including HIBLEO-4.
- Amazon’s materials describe the strategic goal as expanding Amazon Leo low-earth-orbit capacity for direct-to-device connectivity by combining it with Globalstar’s spectrum and infrastructure.
- Amazon’s SEC filing says it entered separate agreements with Apple to provide services after the acquisition and to redeem certain Apple-held equity interests tied to Globalstar.
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