Al Gore’s Generation Investment Portfolio: Top 5 Stock Picks

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

Number of Hedge Fund Holders: 242

Amazon.com, Inc. (NASDAQ:AMZN), an American e-commerce and tech company, was recently listed as one of the top internet stocks by JPMorgan for 2022, due to the company’s e-commerce and subscription business.

Generation Investment Management started investing in Amazon.com, Inc. (NASDAQ:AMZN) during the first quarter of 2011. In Q3 2021, the company represented 5.64% of Al Gore’s portfolio. Recently, Cowen called Amazon.com, Inc. (NASDAQ:AMZN) the Best Idea for 2022 and top mega-cap pick, lifting the stock’s price target to $4,500, with an Outperform rating on the shares.

As of Q3 2021, 242 hedge funds tracked by Insider Monkey were bullish on Amazon.com, Inc. (NASDAQ:AMZN), down from 271 in the preceding quarter. These stakes hold a consolidated value of $42.5 billion. Fisher Asset Management was one of the major shareholders of the company in Q3, owning a stake worth $6.34 billion.

Davis Funds mentioned Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2021 investor letter. Here is what the firm has to say:

“E-commerce, online search and advertising, social media and software are another component of the portfolio that have proven, attractive businesses. The online portion of the Fund is currently dominated by such market leaders as Amazon.com. We are attracted to these names based on the size and rapid expansion of their market opportunities globally, their ability to generate and grow new revenue sources through constant innovation, ample operating leverage as they continue to scale and capable, focused, highly competitive leadership teams. If purchased at sensible prices, these types of businesses in our experience can contribute meaningfully to long-term results.”