5 Blue Chip Stocks To Buy Now According To Billionaire Andreas Halvorsen

1. Amazon.com, Inc. (NASDAQ:AMZN)

Viking Global Investor’s Stake Value: $860,822,000

Percentage of Viking Global Investor’s Portfolio: 3.93%

Number of hedge fund holders: 252

Amazon.com, Inc. (NASDAQ:AMZN) is a leading online retailer and one of the highest-grossing e-commerce aggregators, with $386 billion in net sales and approximately $578 billion in estimated physical/digital online gross merchandise volume in 2021. During Q2 2022, Viking Global boosted its stake in the company by 1817%. The fund’s total stake in the company amounted to roughly $860 million, which represented 3.93% of its 13F portfolio.

Oakmark Funds, an investment management firm, mentioned Amazon.com, Inc. (NASDAQ:AMZN) in its second quarter of 2022 investor letter. Here’s what they said:

“Amazon (NASDAQ:AMZN) is the leading e-commerce and cloud-computing provider in the world. Two-thirds of U.S. households are Amazon Prime subscribers, and over half of all online product searches now start on Amazon. We believe the company’s strong customer loyalty and massive infrastructure are significant barriers to entry in a growing e-commerce market. Separately, Amazon Web Services (“AWS”) controls nearly half of the market in cloud computing. We believe AWS has become utility-like in nature and scale, and we expect healthy growth moving forward as I.T workloads continue moving to the cloud. More recently, concerns about rising investment spending have weighed on the stock as they have in times past-providing us another opportunity to purchase shares at a very attractive price. At our purchase price and valuing AWS like its peers, an investor isn’t paying much of anything for the immensely valuable e-commerce franchise.”

At the end of Q2 2022, 252 hedge funds tracked by Insider Monkey owned stakes in Amazon.com, Inc. (NASDAQ:AMZN). Fisher Asset Management was the stock’s leading stakeholder in Q2, owning Amazon.com, Inc. (NASDAQ:AMZN) shares worth over $5.1 billion. The fund’s position in the stock increased by 1959% from Q1 2022.

You can also take a look at Harvard University’s Latest Portfolio: 10 Best Biotech Stock Picks and 10 Dividend Stocks to Buy According to Billionaire Stanley Druckenmiller’s Duquesne Capital.

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